Reservoir Media (NASDAQ:RSVR) Shares Gap Down – Should You Sell?

Reservoir Media, Inc. (NASDAQ:RSVR) shares gapped down prior to trading on Monday . The stock had previously closed at $9.75, but opened at $9.44. Reservoir Media shares last traded at $9.5530, with a volume of 1,547 shares changing hands.

Wall Street Analyst Weigh In

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 equities research analysts have rated the stock with a Hold rating, According to data from MarketBeat, Reservoir Media currently has a consensus rating of “Hold”.

Reservoir Media Stock Performance

The firm has a 50 day moving average of $10.13 and a two-hundred day moving average of $9.84. The stock has a market cap of $633.75 million, a PE ratio of 74.08 and a beta of 0.74. The company has a debt-to-equity ratio of 1.22, a current ratio of 1.31 and a quick ratio of 1.31.

Institutional Trading of Reservoir Media

Institutional investors have recently modified their holdings of the stock. Irenic Capital Management LP boosted its holdings in shares of Reservoir Media by 1.3% in the 2nd quarter. Irenic Capital Management LP now owns 6,260,176 shares of the company’s stock valued at $61,913,000 after buying an additional 79,000 shares in the last quarter. BlackRock Inc. purchased a new stake in Reservoir Media in the second quarter valued at $12,533,000. Dimensional Fund Advisors LP lifted its position in Reservoir Media by 6.3% in the first quarter. Dimensional Fund Advisors LP now owns 1,140,363 shares of the company’s stock valued at $11,163,000 after acquiring an additional 67,546 shares during the last quarter. Nantahala Capital Management LLC acquired a new position in Reservoir Media in the second quarter valued at $9,306,094. Finally, Geode Capital Management LLC boosted its stake in Reservoir Media by 0.6% in the fourth quarter. Geode Capital Management LLC now owns 644,839 shares of the company’s stock valued at $4,883,000 after acquiring an additional 3,759 shares in the last quarter. Hedge funds and other institutional investors 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.