Reservoir Media (NASDAQ:RSVR) Reaches New 52-Week High – Should You Buy?

Shares of Reservoir Media, Inc. (NASDAQ:RSVR) reached a new 52-week high during mid-day trading on Thursday . The stock traded as high as $10.43 and last traded at $10.3830, with a volume of 53508 shares changing hands. The stock had previously closed at $10.16.

Wall Street Analyst Weigh In

Several research firms have commented on RSVR. Wall Street Zen raised shares of Reservoir Media from a “sell” rating to a “hold” rating in a research report on Saturday, February 7th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Reservoir Media in a research report on Friday, March 27th. Finally, B. Riley Financial lowered 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 currently has an average rating of “Hold” and a consensus target price of $11.50.

Reservoir Media Price Performance

The company has a debt-to-equity ratio of 1.21, a current ratio of 1.19 and a quick ratio of 1.19. The stock’s 50 day moving average price is $9.85 and its two-hundred day moving average price is $8.36. The firm has a market capitalization of $663.22 million, a price-to-earnings ratio of 112.35 and a beta of 0.74.

Institutional Investors Weigh In On Reservoir Media

Hedge funds have recently bought and sold shares of the company. Hsbc Holdings PLC grew its position in shares of Reservoir Media by 3.6% in the fourth quarter. Hsbc Holdings PLC now owns 58,507 shares of the company’s stock valued at $440,000 after purchasing an additional 2,042 shares during the last quarter. Boston Partners lifted its position in shares of 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. boosted its stake in Reservoir Media by 22.1% during 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. Barclays PLC grew its holdings in Reservoir Media by 2.4% in the 4th quarter. Barclays PLC now owns 132,513 shares of the company’s stock valued at $1,003,000 after buying an additional 3,087 shares during the last quarter. Finally, Goldman Sachs Group Inc. grew its holdings in Reservoir Media by 3.6% in the 1st quarter. Goldman Sachs Group Inc. now owns 90,003 shares of the company’s stock valued at $687,000 after buying an additional 3,110 shares during the last quarter. 44.38% of the stock is currently owned by 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.