Federated Hermes Inc. Sells 100,000 Shares of Reservoir Media, Inc. $RSVR

Federated Hermes Inc. decreased its stake in shares of Reservoir Media, Inc. (NASDAQ:RSVR) by 5.0% during the third quarter, according to its most recent filing with the SEC. The institutional investor owned 1,894,611 shares of the company’s stock after selling 100,000 shares during the period. Federated Hermes Inc. owned 2.89% of Reservoir Media worth $15,422,000 as of its most recent SEC filing.

Several other large investors have also added to or reduced their stakes in RSVR. Police & Firemen s Retirement System of New Jersey bought a new stake in shares of Reservoir Media during the second quarter valued at about $34,000. BNP Paribas Financial Markets grew its stake in 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 in the last quarter. Tower Research Capital LLC TRC increased its holdings in Reservoir Media by 373.1% during the 2nd 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 during the period. Bank of America Corp DE lifted its stake in Reservoir Media by 31.4% in the 2nd quarter. Bank of America Corp DE now owns 42,356 shares of the company’s stock worth $325,000 after purchasing an additional 10,120 shares in the last quarter. Finally, Exchange Traded Concepts LLC bought a new position in Reservoir Media in the 3rd quarter valued at $385,000. Institutional investors own 44.38% of the company’s stock.

Reservoir Media Price Performance

RSVR opened at $7.55 on Friday. The company has a current ratio of 1.35, a quick ratio of 1.35 and a debt-to-equity ratio of 1.13. The stock has a market capitalization of $495.20 million, a P/E ratio of 53.93 and a beta of 0.88. The stock has a 50-day moving average price of $7.47 and a 200-day moving average price of $7.61. Reservoir Media, Inc. has a 12-month low of $6.56 and a 12-month high of $8.94.

Reservoir Media (NASDAQ:RSVR) last released its earnings results on Tuesday, November 4th. The company reported $0.03 earnings per share for the quarter, missing analysts’ consensus estimates of $0.05 by ($0.02). The firm had revenue of $45.44 million during the quarter, compared to the consensus estimate of $43.14 million. Reservoir Media had a return on equity of 2.62% and a net margin of 5.78%. Equities analysts predict that Reservoir Media, Inc. will post 0.11 earnings per share for the current fiscal year.

Analyst Ratings Changes

RSVR has been the topic of several research analyst reports. Zacks Research raised shares of Reservoir Media from a “strong sell” rating to a “hold” rating in a report on Monday, October 6th. Weiss Ratings restated a “hold (c)” rating on shares of Reservoir Media in a research note on Monday, December 29th. Finally, Wall Street Zen cut Reservoir Media from a “hold” rating to a “sell” rating in a report on Saturday, November 8th. One analyst has rated the stock with a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $11.50.

Reservoir Media 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.