Reservoir Media (NASDAQ:RSVR) Trading 9.2% Higher – Here’s Why

Reservoir Media, Inc. (NASDAQ:RSVR)’s share price traded up 9.2% during trading on Monday . The company traded as high as $10.41 and last traded at $11.27. 843 shares were traded during trading, a decline of 99% from the average session volume of 86,398 shares. The stock had previously closed at $10.32.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on the company. Weiss Ratings raised Reservoir Media from a “hold (c)” rating to a “hold (c+)” rating in a research note on Tuesday, June 2nd. B. Riley Financial cut Reservoir Media from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, March 4th. Three investment analysts have rated the stock with a Hold rating, According to data from MarketBeat, the company currently has a consensus rating of “Hold”.

Reservoir Media Trading Down 1.4%

The company has a debt-to-equity ratio of 1.20, a current ratio of 1.41 and a quick ratio of 1.41. The business has a 50 day moving average of $10.02 and a 200 day moving average of $8.67. The firm has a market capitalization of $668.42 million, a price-to-earnings ratio of 84.84 and a beta of 0.73.

Reservoir Media (NASDAQ:RSVR) last posted its earnings results on Thursday, May 28th. The company reported $0.07 earnings per share for the quarter, topping the consensus estimate of $0.05 by $0.02. The firm had revenue of $47.50 million for 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, research analysts predict that Reservoir Media, Inc. will post 0.13 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in RSVR. Goldman Sachs Group Inc. lifted its stake in Reservoir Media by 3.6% in the first 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 in the last quarter. Jane Street Group LLC lifted its stake in Reservoir Media by 56.7% in the first quarter. Jane Street Group LLC now owns 49,649 shares of the company’s stock valued at $379,000 after buying an additional 17,963 shares in the last quarter. Geode Capital Management LLC lifted its stake in Reservoir Media by 2.8% in the second quarter. Geode Capital Management LLC now owns 641,418 shares of the company’s stock valued at $4,921,000 after buying an additional 17,384 shares in the last quarter. Hsbc Holdings PLC lifted its stake in Reservoir Media by 59.0% in the second quarter. Hsbc Holdings PLC now owns 54,205 shares of the company’s stock valued at $409,000 after buying an additional 20,116 shares in the last quarter. Finally, Bank of America Corp DE lifted its stake in Reservoir Media by 31.4% in the second quarter. Bank of America Corp DE now owns 42,356 shares of the company’s stock valued at $325,000 after buying an additional 10,120 shares in 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.