Reservoir Media (NASDAQ:RSVR) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of Reservoir Media (NASDAQ:RSVR) from a sell rating to a hold rating in a research report report published on Saturday.

Separately, B. Riley reiterated a “buy” rating and set a $11.50 target price (down from $12.50) on shares of Reservoir Media in a research report on Friday.

Reservoir Media Stock Performance

NASDAQ RSVR opened at $7.30 on Friday. The stock has a market cap of $476.71 million, a P/E ratio of 66.37, a PEG ratio of 7.16 and a beta of 0.90. The company’s 50-day simple moving average is $7.31 and its 200 day simple moving average is $7.92. Reservoir Media has a twelve month low of $6.56 and a twelve month high of $9.83. The company has a quick ratio of 1.20, a current ratio of 1.20 and a debt-to-equity ratio of 1.03.

Reservoir Media (NASDAQ:RSVR) last posted its earnings results on Wednesday, May 28th. The company reported $0.04 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.04. The business had revenue of $41.42 million for the quarter, compared to analysts’ expectations of $40.31 million. Reservoir Media had a net margin of 5.04% and a return on equity of 2.20%. As a group, research analysts forecast that Reservoir Media will post 0.11 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Reservoir Media

Large investors have recently bought and sold shares of the business. First Pacific Advisors LP acquired a new stake in Reservoir Media in the first quarter worth $50,000. BNP Paribas Financial Markets bought a new position in Reservoir Media in the fourth quarter valued at $51,000. Corton Capital Inc. bought a new position in Reservoir Media in the first quarter valued at $105,000. Wells Fargo & Company MN grew its position in Reservoir Media by 22.4% in the fourth quarter. Wells Fargo & Company MN now owns 13,851 shares of the company’s stock valued at $125,000 after purchasing an additional 2,531 shares in the last quarter. Finally, Meridian Wealth Advisors LLC grew its position in Reservoir Media by 49.7% in the fourth quarter. Meridian Wealth Advisors LLC now owns 14,974 shares of the company’s stock valued at $136,000 after purchasing an additional 4,974 shares in the last quarter. 44.38% of the stock is currently owned by institutional investors and hedge funds.

About Reservoir Media

Reservoir Media, Inc operates as a music publishing company. It operates through two segments, Music Publishing and Recorded Music. The Music Publishing segment acquires interests in music catalogs, as well as signs songwriters. The Recorded Music segment engages in the acquisition of sound recording catalogs; discovery and development of recording artists; and marketing, distribution, sale, and licensing of the music catalogs.