Reservoir Media (NASDAQ:RSVR) Upgraded by Wall Street Zen to “Hold” Rating

Reservoir Media (NASDAQ:RSVR) was upgraded by equities research analysts at Wall Street Zen from a “sell” rating to a “hold” rating in a research note issued on Monday.

Separately, B. Riley reissued a “buy” rating and issued a $11.50 price target (down previously from $12.50) on shares of Reservoir Media in a research note on Friday, June 6th.

Reservoir Media Stock Up 0.3%

Shares of RSVR stock opened at $7.61 on Monday. The stock’s 50-day simple moving average is $7.36 and its 200-day simple moving average is $7.78. The company has a debt-to-equity ratio of 1.06, a quick ratio of 1.20 and a current ratio of 1.20. The firm has a market capitalization of $496.96 million, a PE ratio of 69.19, a P/E/G ratio of 4.90 and a beta of 0.90. Reservoir Media has a fifty-two week low of $6.56 and a fifty-two week high of $9.83.

Reservoir Media (NASDAQ:RSVR) last posted its earnings results on Wednesday, May 28th. The company reported $0.04 EPS for the quarter, hitting the consensus estimate of $0.04. The firm had revenue of $41.42 million for the quarter, compared to analyst estimates of $40.31 million. Reservoir Media had a return on equity of 2.15% and a net margin of 4.88%. Equities analysts expect that Reservoir Media will post 0.11 earnings per share for the current year.

Institutional Trading of Reservoir Media

Institutional investors and hedge funds have recently made changes to their positions in the company. First Pacific Advisors LP acquired a new position in Reservoir Media in the 1st quarter valued at about $50,000. BNP Paribas Financial Markets acquired a new stake in Reservoir Media during the 4th quarter valued at $51,000. Corton Capital Inc. purchased a new position in shares of Reservoir Media during the 1st quarter worth $105,000. Wells Fargo & Company MN lifted its stake in shares of Reservoir Media by 22.4% during the 4th quarter. Wells Fargo & Company MN now owns 13,851 shares of the company’s stock worth $125,000 after purchasing an additional 2,531 shares during the period. Finally, Meridian Wealth Advisors LLC raised its position in Reservoir Media by 49.7% in the fourth quarter. Meridian Wealth Advisors LLC now owns 14,974 shares of the company’s stock valued at $136,000 after purchasing an additional 4,974 shares during the period. 44.38% of the stock is owned by hedge funds and other institutional investors.

Reservoir Media Company Profile

Reservoir Media, Inc operates as a music publishing company. It operates through two segments, Music Publishing and Recorded Music. The Music Publishing segment acquires interests in music catalogs, as well as signs songwriters. The Recorded Music segment engages in the acquisition of sound recording catalogs; discovery and development of recording artists; and marketing, distribution, sale, and licensing of the music catalogs.