Reservoir Media (NASDAQ:RSVR) Raised to “Hold” at Wall Street Zen

Reservoir Media (NASDAQ:RSVR) was upgraded by stock analysts at Wall Street Zen from a “sell” rating to a “hold” rating in a report issued on Saturday.

Separately, Weiss Ratings reissued a “hold (c)” rating on shares of Reservoir Media in a research report on Monday, December 29th. One investment analyst has rated the stock with a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $11.50.

Reservoir Media Price Performance

NASDAQ RSVR opened at $7.54 on Friday. The company has a 50-day moving average price of $7.47 and a 200-day moving average price of $7.61. Reservoir Media has a 52 week low of $6.56 and a 52 week high of $8.46. The company has a quick ratio of 1.35, a current ratio of 1.19 and a debt-to-equity ratio of 1.21. The firm has a market capitalization of $494.62 million, a P/E ratio of 83.79 and a beta of 0.88.

Reservoir Media (NASDAQ:RSVR) last posted its quarterly earnings data on Wednesday, February 4th. The company reported $0.03 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.02 by $0.01. Reservoir Media had a net margin of 3.87% and a return on equity of 1.77%. The company had revenue of $45.57 million for the quarter, compared to the consensus estimate of $42.63 million. Equities research analysts anticipate that Reservoir Media will post 0.11 earnings per share for the current year.

Hedge Funds Weigh In On Reservoir Media

Several large investors have recently added to or reduced their stakes in the company. JPMorgan Chase & Co. boosted its position in shares of Reservoir Media by 21.7% in the third quarter. JPMorgan Chase & Co. now owns 47,377 shares of the company’s stock worth $386,000 after purchasing an additional 8,443 shares during the period. Irenic Capital Management LP lifted its stake in shares of Reservoir Media by 3.2% during the 3rd quarter. Irenic Capital Management LP now owns 5,669,671 shares of the company’s stock valued at $46,151,000 after buying an additional 177,361 shares in the last quarter. Bank of America Corp DE boosted its holdings in Reservoir Media by 20.8% in the 3rd quarter. Bank of America Corp DE now owns 51,178 shares of the company’s stock worth $417,000 after buying an additional 8,822 shares during the period. BNP Paribas Financial Markets boosted its holdings in Reservoir Media by 146.2% in the 3rd quarter. BNP Paribas Financial Markets now owns 17,244 shares of the company’s stock worth $140,000 after buying an additional 10,241 shares during the period. Finally, Russell Investments Group Ltd. increased its stake in Reservoir Media by 11.0% in the 3rd quarter. Russell Investments Group Ltd. now owns 480,859 shares of the company’s stock worth $3,914,000 after buying an additional 47,812 shares in the last quarter. Hedge funds and other institutional investors own 44.38% of the company’s stock.

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.