Reservoir Media (NASDAQ:RSVR) Trading 0.1% Higher – Here’s What Happened

Reservoir Media, Inc. (NASDAQ:RSVR)’s stock price traded up 0.1% on Thursday . The company traded as high as $10.25 and last traded at $10.19. 13,512 shares were traded during mid-day trading, a decline of 76% from the average daily volume of 55,884 shares. The stock had previously closed at $10.18.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings raised Reservoir Media from a “hold (c)” rating to a “hold (c+)” rating in a report on Wednesday. Three equities research analysts have rated the stock with a Hold rating, Based on data from MarketBeat, the company currently has a consensus rating of “Hold”.

Reservoir Media Price Performance

The company has a quick ratio of 1.41, a current ratio of 1.41 and a debt-to-equity ratio of 1.20. The stock’s 50-day moving average price is $10.18 and its 200-day moving average price is $9.13. The company has a market capitalization of $670.60 million, a price-to-earnings ratio of 84.92 and a beta of 0.74.

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

Institutional Investors Weigh In On Reservoir Media

A number of institutional investors and hedge funds have recently made changes to their positions in RSVR. BNP Paribas Financial Markets lifted its stake in shares of Reservoir Media by 101.1% during the second quarter. BNP Paribas Financial Markets now owns 7,003 shares of the company’s stock valued at $54,000 after acquiring an additional 3,521 shares during the period. Tower Research Capital LLC TRC boosted its holdings in Reservoir Media by 373.1% in the second quarter. Tower Research Capital LLC TRC now owns 7,504 shares of the company’s stock valued at $58,000 after acquiring an additional 5,918 shares during the last quarter. Invesco Ltd. boosted its holdings in Reservoir Media by 22.1% in the fourth quarter. Invesco Ltd. now owns 13,446 shares of the company’s stock valued at $102,000 after acquiring an additional 2,433 shares during the last quarter. Wells Fargo & Company MN increased its position in Reservoir Media by 48.3% in the fourth quarter. Wells Fargo & Company MN now owns 22,780 shares of the company’s stock worth $172,000 after purchasing an additional 7,421 shares during the period. Finally, Gabelli Funds LLC increased its position in Reservoir Media by 19.6% in the third quarter. Gabelli Funds LLC now owns 27,500 shares of the company’s stock worth $224,000 after purchasing an additional 4,500 shares during the period. Institutional investors own 44.38% of the company’s stock.

About Reservoir Media

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.