Reservoir Media (NASDAQ:RSVR) Downgraded to “Sell” Rating by Wall Street Zen

Wall Street Zen lowered shares of Reservoir Media (NASDAQ:RSVR) from a hold rating to a sell rating in a report published on Sunday morning.

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

Reservoir Media Stock Down 1.5%

Shares of RSVR opened at $7.22 on Friday. The stock has a market cap of $471.49 million, a price-to-earnings ratio of 65.64, a P/E/G ratio of 7.16 and a beta of 0.90. The company has a quick ratio of 1.20, a current ratio of 1.20 and a debt-to-equity ratio of 1.03. Reservoir Media has a 12 month low of $6.56 and a 12 month high of $9.83. The company has a 50-day moving average price of $7.32 and a two-hundred day moving average price of $7.86.

Reservoir Media (NASDAQ:RSVR) last announced its quarterly earnings results on Wednesday, May 28th. The company reported $0.04 EPS for the quarter, hitting analysts’ consensus estimates of $0.04. The firm had revenue of $41.42 million during the quarter, compared to analysts’ expectations of $40.31 million. Reservoir Media had a net margin of 5.04% and a return on equity of 2.20%. Equities analysts predict that Reservoir Media will post 0.11 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of the company. Irenic Capital Management LP raised its stake in shares of Reservoir Media by 1.2% in the first quarter. Irenic Capital Management LP now owns 5,388,003 shares of the company’s stock valued at $41,110,000 after acquiring an additional 65,421 shares during the last quarter. Russell Investments Group Ltd. increased its holdings in shares of Reservoir Media by 67.7% in the first quarter. Russell Investments Group Ltd. now owns 380,812 shares of the company’s stock valued at $2,906,000 after purchasing an additional 153,705 shares in the last quarter. Dimensional Fund Advisors LP increased its holdings in shares of Reservoir Media by 18.6% in the fourth quarter. Dimensional Fund Advisors LP now owns 352,568 shares of the company’s stock valued at $3,191,000 after purchasing an additional 55,396 shares in the last quarter. Northern Trust Corp increased its holdings in shares of Reservoir Media by 2.5% in the fourth quarter. Northern Trust Corp now owns 203,686 shares of the company’s stock valued at $1,843,000 after purchasing an additional 4,983 shares in the last quarter. Finally, Hurley Capital LLC increased its holdings in shares of Reservoir Media by 3.4% in the first quarter. Hurley Capital LLC now owns 144,104 shares of the company’s stock valued at $1,100,000 after purchasing an additional 4,741 shares in the last quarter. Institutional investors own 44.38% of the company’s stock.

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.