Reservoir Media (NASDAQ:RSVR) Reaches New 12-Month High – Here’s What Happened

Reservoir Media, Inc. (NASDAQ:RSVR)’s share price reached a new 52-week high during trading on Wednesday . The stock traded as high as $9.19 and last traded at $9.00, with a volume of 115042 shares traded. The stock had previously closed at $9.11.

Analyst Ratings Changes

RSVR has been the subject of several recent research reports. Weiss Ratings restated a “hold (c)” rating on shares of Reservoir Media in a report on Monday, December 29th. Wall Street Zen upgraded shares of Reservoir Media from a “sell” rating to a “hold” rating in a research report on Saturday, February 7th. One analyst has rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $11.50.

Reservoir Media Stock Down 1.2%

The stock has a market cap of $590.40 million, a price-to-earnings ratio of 100.01 and a beta of 0.84. The company has a current ratio of 1.19, a quick ratio of 1.19 and a debt-to-equity ratio of 1.21. The firm’s 50 day moving average is $7.63 and its two-hundred day moving average is $7.62.

Reservoir Media (NASDAQ:RSVR) last issued its quarterly earnings results on Wednesday, February 4th. The company reported $0.03 EPS for the quarter, topping analysts’ consensus estimates of $0.02 by $0.01. The business had revenue of $45.57 million during the quarter, compared to the consensus estimate of $42.63 million. Reservoir Media had a net margin of 3.87% and a return on equity of 1.77%. On average, sell-side analysts predict that Reservoir Media, Inc. will post 0.11 EPS for the current year.

Institutional Investors Weigh In On Reservoir Media

Several hedge funds have recently made changes to their positions in the business. Police & Firemen s Retirement System of New Jersey purchased a new stake in shares of Reservoir Media in the second quarter valued at $34,000. BNP Paribas Financial Markets boosted its stake in Reservoir Media by 101.1% in the 2nd 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 during the last quarter. Tower Research Capital LLC TRC grew 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 buying an additional 5,918 shares during the period. Invesco Ltd. grew 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 buying an additional 2,433 shares during the period. Finally, Wells Fargo & Company MN increased its stake in shares of Reservoir Media by 48.3% during the 4th quarter. Wells Fargo & Company MN now owns 22,780 shares of the company’s stock valued at $172,000 after acquiring an additional 7,421 shares during the last quarter. Institutional investors and hedge funds own 44.38% of the company’s stock.

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.