Reservoir Media (NASDAQ:RSVR) Shares Down 4.1% – What’s Next?

by · The Markets Daily

Reservoir Media, Inc. (NASDAQ:RSVR – Get Free Report)’s stock price fell 4.1% during mid-day trading on Friday . The stock traded as low as $9.47 and last traded at $9.47. 6,247 shares were traded during mid-day trading, a decline of 92% from the average daily volume of 76,649 shares. The stock had previously closed at $9.88.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings lowered Reservoir Media from a “hold (c+)” rating to a “hold (c)” rating in a research report on Thursday, August 6th. Three equities research analysts have rated the stock with a Hold rating, According to data from MarketBeat.com, the stock has an average rating of “Hold”.

Get Our Latest Report on RSVR

Reservoir Media Price Performance

The stock has a fifty day moving average price of $10.20 and a 200-day moving average price of $9.71. The firm has a market capitalization of $650.20 million, a PE ratio of 76.01 and a beta of 0.75. The company has a debt-to-equity ratio of 1.22, a quick ratio of 1.31 and a current ratio of 1.31.

Reservoir Media (NASDAQ:RSVR – Get Free Report) last issued its quarterly earnings data on Thursday, May 28th. The company reported $0.07 earnings per share for the quarter, topping analysts’ consensus estimates of $0.05 by $0.02. Reservoir Media had a return on equity of 2.33% and a net margin of 4.87%.The firm had revenue of $47.50 million during the quarter, compared to analysts’ expectations of $44.45 million. Sell-side analysts forecast that Reservoir Media, Inc. will post 0.13 EPS for the current fiscal year.

Institutional Trading of Reservoir Media

Large investors have recently bought and sold shares of the stock. BNP Paribas Financial Markets raised its holdings in shares of Reservoir Media by 101.1% in the second quarter. BNP Paribas Financial Markets now owns 7,003 shares of the company’s stock worth $54,000 after buying an additional 3,521 shares during the last quarter. Tower Research Capital LLC TRC increased its position in shares of 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 acquiring an additional 5,918 shares during the period. Invesco Ltd. increased its position in shares of Reservoir Media by 22.1% in the 4th quarter. Invesco Ltd. now owns 13,446 shares of the company’s stock valued at $102,000 after acquiring an additional 2,433 shares during the period. Bank of America Corp DE purchased a new position in Reservoir Media in the 2nd quarter worth $179,000. Finally, Deutsche Bank AG purchased a new position in Reservoir Media in the 2nd quarter worth $189,000. Hedge funds and other institutional investors own 44.38% of the company’s stock.

Reservoir Media Company Profile

(Get Free Report)

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.

Featured Stories