Reservoir Media, Inc. $RSVR is Irenic Capital Management LP’s 8th Largest Position

Irenic Capital Management LP lifted its holdings in Reservoir Media, Inc. (NASDAQ:RSVR) by 1.3% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 6,260,176 shares of the company’s stock after acquiring an additional 79,000 shares during the period. Reservoir Media makes up 3.0% of Irenic Capital Management LP’s portfolio, making the stock its 8th biggest position. Irenic Capital Management LP owned about 0.10% of Reservoir Media worth $61,913,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in RSVR. BNP Paribas Financial Markets lifted its holdings in shares of Reservoir Media by 101.1% during the 2nd 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% 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 in the last quarter. Invesco Ltd. raised its position in Reservoir Media by 22.1% in the fourth 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 raised its position in Reservoir Media by 48.3% in the fourth quarter. Wells Fargo & Company MN now owns 22,780 shares of the company’s stock valued at $172,000 after purchasing an additional 7,421 shares during the period. Finally, Bank of America Corp DE acquired a new position in shares of Reservoir Media during the second quarter worth about $179,000. Hedge funds and other institutional investors own 44.38% of the company’s stock.

Reservoir Media Trading Down 0.3%

RSVR opened at $9.74 on Friday. The firm’s 50 day moving average is $10.11 and its 200-day moving average is $9.87. Reservoir Media, Inc. has a 52-week low of $7.07 and a 52-week high of $13.39. The company has a quick ratio of 1.31, a current ratio of 1.31 and a debt-to-equity ratio of 1.22. The firm has a market capitalization of $641.03 million, a P/E ratio of 74.93 and a beta of 0.74.

Analyst Ratings Changes

Separately, Weiss Ratings downgraded Reservoir Media from a “hold (c)” rating to a “hold (c-)” rating in a research report on Thursday, August 20th. Three research analysts have rated the stock with a Hold rating, Based on data from MarketBeat.com, the company has an average rating of “Hold”.

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.