Reservoir Media (NASDAQ:RSVR) Trading 9.2% Higher – Here’s Why

Reservoir Media, Inc. (NASDAQ:RSVR) shares shot up 9.2% on Monday . The company traded as high as $10.41 and last traded at $11.27. 843 shares were traded during mid-day trading, a decline of 99% from the average session volume of 86,398 shares. The stock had previously closed at $10.32.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on the company. Weiss Ratings upgraded Reservoir Media from a “hold (c)” rating to a “hold (c+)” rating in a report on Tuesday, June 2nd. B. Riley Financial lowered shares of Reservoir Media from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, March 4th. Three equities research analysts have rated the stock with a Hold rating, According to data from MarketBeat.com, the company currently has a consensus rating of “Hold”.

Reservoir Media Trading Down 1.4%

The company has a debt-to-equity ratio of 1.20, a current ratio of 1.41 and a quick ratio of 1.41. The business has a 50-day moving average of $10.02 and a 200-day moving average of $8.67. The firm has a market cap of $668.42 million, a price-to-earnings ratio of 84.84 and a beta of 0.73.

Reservoir Media (NASDAQ:RSVR) last released its earnings results on Thursday, May 28th. The company reported $0.07 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.05 by $0.02. The business had revenue of $47.50 million for the quarter, compared to the consensus estimate of $44.45 million. Reservoir Media had a return on equity of 2.22% and a net margin of 4.73%. Research analysts anticipate that Reservoir Media, Inc. will post 0.13 EPS for the current year.

Institutional Trading of Reservoir Media

Several institutional investors and hedge funds have recently added to or reduced their stakes in RSVR. BNP Paribas Financial Markets raised its position in Reservoir Media by 101.1% during the second quarter. BNP Paribas Financial Markets now owns 7,003 shares of the company’s stock worth $54,000 after acquiring an additional 3,521 shares in the last quarter. Tower Research Capital LLC TRC raised its position in Reservoir Media by 373.1% during the second quarter. Tower Research Capital LLC TRC now owns 7,504 shares of the company’s stock worth $58,000 after acquiring an additional 5,918 shares in the last quarter. Invesco Ltd. raised its position in Reservoir Media by 22.1% during the fourth quarter. Invesco Ltd. now owns 13,446 shares of the company’s stock worth $102,000 after acquiring an additional 2,433 shares in the last quarter. Wells Fargo & Company MN raised its position in Reservoir Media by 48.3% during the fourth quarter. Wells Fargo & Company MN now owns 22,780 shares of the company’s stock worth $172,000 after acquiring an additional 7,421 shares in the last quarter. Finally, Gabelli Funds LLC raised its position in Reservoir Media by 19.6% during the third quarter. Gabelli Funds LLC now owns 27,500 shares of the company’s stock worth $224,000 after acquiring an additional 4,500 shares in the last quarter. 44.38% of the stock is owned by institutional investors.

Reservoir Media Company Profile

Reservoir Media Inc is a global independent music rights management company that acquires, administers and monetizes music publishing and master recording assets. Its business model centers on building a diverse portfolio of copyrights and recordings across genres, then generating revenue through licensing, royalty collection and direct-to-fan initiatives. Reservoir’s catalog includes works by established and emerging songwriters and artists, spanning pop, rock, country, R&B and other contemporary styles.

The company operates two primary segments: music publishing and recorded music.