Reservoir Media (NASDAQ:RSVR) Shares Up 0.1% – What’s Next?

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

Analysts Set New Price Targets

Separately, Weiss Ratings upgraded shares of Reservoir Media from a “hold (c)” rating to a “hold (c+)” rating in a report on Wednesday. Three analysts have rated the stock with a Hold rating, According to MarketBeat, Reservoir Media presently has a consensus rating of “Hold”.

Reservoir Media Stock Up 0.1%

The business has a 50 day moving average of $10.18 and a two-hundred day moving average of $9.14. The stock has a market capitalization of $671.26 million, a PE ratio of 85.01 and a beta of 0.74. The company has a debt-to-equity ratio of 1.20, a quick ratio of 1.41 and a current ratio of 1.41.

Reservoir Media (NASDAQ:RSVR) last announced its earnings results on Thursday, May 28th. The company reported $0.07 EPS for the quarter, topping 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 the consensus estimate of $44.45 million. Analysts predict that Reservoir Media, Inc. will post 0.13 EPS for the current year.

Institutional Investors Weigh In On Reservoir Media

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Hsbc Holdings PLC grew its stake in shares of Reservoir Media by 3.6% during the fourth quarter. Hsbc Holdings PLC now owns 58,507 shares of the company’s stock worth $440,000 after acquiring an additional 2,042 shares during the last quarter. Boston Partners grew its position in Reservoir Media by 2.5% during the 4th quarter. Boston Partners now owns 91,492 shares of the company’s stock worth $693,000 after purchasing an additional 2,248 shares during the last quarter. Invesco Ltd. grew its position in Reservoir Media by 22.1% during the 4th quarter. Invesco Ltd. now owns 13,446 shares of the company’s stock worth $102,000 after purchasing an additional 2,433 shares during the last quarter. Barclays PLC increased its stake in Reservoir Media by 2.4% during the 4th quarter. Barclays PLC now owns 132,513 shares of the company’s stock valued at $1,003,000 after purchasing an additional 3,087 shares in the last quarter. Finally, Goldman Sachs Group Inc. increased its stake in Reservoir Media by 3.6% during the 1st quarter. Goldman Sachs Group Inc. now owns 90,003 shares of the company’s stock valued at $687,000 after purchasing an additional 3,110 shares in the last quarter. 44.38% of the stock is currently owned by hedge funds and other 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.