Reservoir Media (NASDAQ:RSVR) Sets New 12-Month High – What’s Next?

Reservoir Media, Inc. (NASDAQ:RSVR)’s share price reached a new 52-week high on Tuesday . The company traded as high as $10.49 and last traded at $10.20, with a volume of 58265 shares traded. The stock had previously closed at $10.20.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on the company. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Reservoir Media in a research report on Friday, March 27th. Wall Street Zen raised Reservoir Media from a “sell” rating to a “hold” rating in a research report on Saturday, February 7th. Finally, B. Riley Financial cut Reservoir Media from a “strong-buy” rating to a “hold” rating in a report on Wednesday, March 4th. Three research analysts have rated the stock with a Hold rating, According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $11.50.

Reservoir Media Stock Performance

The firm has a fifty day moving average of $9.89 and a 200-day moving average of $8.48. The stock has a market capitalization of $684.86 million, a price-to-earnings ratio of 116.01 and a beta of 0.74. The company has a quick ratio of 1.19, a current ratio of 1.19 and a debt-to-equity ratio of 1.21.

Hedge Funds Weigh In On Reservoir Media

Several hedge funds and other institutional investors have recently bought and sold shares of the company. BNP Paribas Financial Markets increased 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 buying an additional 3,521 shares in the last quarter. Tower Research Capital LLC TRC increased 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 buying an additional 5,918 shares in the last quarter. Invesco Ltd. increased 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 buying an additional 2,433 shares in the last quarter. Wells Fargo & Company MN increased 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 buying an additional 7,421 shares in the last quarter. Finally, Gabelli Funds LLC increased 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 buying an additional 4,500 shares in the last quarter. 44.38% of the stock is owned by institutional investors and hedge funds.

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.