Reservoir Media, Inc. $RSVR Shares Bought by Irenic Capital Management LP

Irenic Capital Management LP grew its holdings in Reservoir Media, Inc. (NASDAQ:RSVR) by 3.3% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 6,181,176 shares of the company’s stock after acquiring an additional 195,000 shares during the quarter. Reservoir Media accounts for 4.0% of Irenic Capital Management LP’s portfolio, making the stock its 6th largest holding. Irenic Capital Management LP owned approximately 9.42% of Reservoir Media worth $60,514,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of RSVR. 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 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 2nd quarter. Tower Research Capital LLC TRC now owns 7,504 shares of the company’s stock valued at $58,000 after purchasing an additional 5,918 shares during the period. Invesco Ltd. boosted its holdings in Reservoir Media by 22.1% in the 4th quarter. Invesco Ltd. now owns 13,446 shares of the company’s stock valued at $102,000 after purchasing an additional 2,433 shares during the period. Wells Fargo & Company MN grew its position in Reservoir Media by 48.3% in the 4th 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 last quarter. Finally, Gabelli Funds LLC grew its position in Reservoir Media by 19.6% in the 3rd 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 last quarter. Institutional investors and hedge funds own 44.38% of the company’s stock.

Analyst Ratings Changes

Separately, Weiss Ratings raised shares of Reservoir Media from a “hold (c)” rating to a “hold (c+)” rating in a research report on Wednesday, July 8th. Three research analysts have rated the stock with a Hold rating, Based on data from MarketBeat, Reservoir Media currently has an average rating of “Hold”.

Reservoir Media Price Performance

Shares of RSVR stock opened at $11.10 on Wednesday. Reservoir Media, Inc. has a 12 month low of $7.07 and a 12 month high of $13.39. The company has a market capitalization of $730.49 million, a P/E ratio of 92.51 and a beta of 0.74. The stock has a 50 day moving average of $10.25 and a two-hundred day moving average of $9.39. The company has a current ratio of 1.41, a quick ratio of 1.41 and a debt-to-equity ratio of 1.20.

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

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.