Reservoir Media (NASDAQ:RSVR) Sees Strong Trading Volume – What’s Next?

Shares of Reservoir Media, Inc. (NASDAQ:RSVR) saw strong trading volume on Friday . 132,712 shares traded hands during trading, an increase of 91% from the previous session’s volume of 69,302 shares.The stock last traded at $9.02 and had previously closed at $8.94.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on RSVR shares. Weiss Ratings restated a “hold (c)” rating on shares of Reservoir Media in a report on Monday, December 29th. Wall Street Zen raised Reservoir Media from a “sell” rating to a “hold” rating in a research note on Saturday, February 7th. One analyst has rated the stock with a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat, Reservoir Media has a consensus rating of “Hold” and a consensus target price of $11.50.

Reservoir Media Price Performance

The company has a market cap of $588.43 million, a PE ratio of 99.68 and a beta of 0.88. The firm’s 50-day moving average is $7.56 and its 200-day moving average is $7.60. The company has a quick ratio of 1.19, a current ratio of 1.19 and a debt-to-equity ratio of 1.21.

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

Hedge Funds Weigh In On Reservoir Media

Several institutional investors and hedge funds have recently added to or reduced their stakes in RSVR. Goldman Sachs Group Inc. grew its position in shares of Reservoir Media by 3.6% in the 1st quarter. Goldman Sachs Group Inc. now owns 90,003 shares of the company’s stock worth $687,000 after buying an additional 3,110 shares during the period. Jane Street Group LLC boosted its stake in Reservoir Media by 56.7% during the first quarter. Jane Street Group LLC now owns 49,649 shares of the company’s stock worth $379,000 after acquiring an additional 17,963 shares in the last quarter. Boston Partners grew its holdings in Reservoir Media by 4.7% in the second quarter. Boston Partners now owns 100,314 shares of the company’s stock worth $769,000 after purchasing an additional 4,464 shares during the period. Geode Capital Management LLC increased its stake in shares of Reservoir Media by 2.8% during the second quarter. Geode Capital Management LLC now owns 641,418 shares of the company’s stock valued at $4,921,000 after purchasing an additional 17,384 shares in the last quarter. Finally, Police & Firemen s Retirement System of New Jersey bought a new position in shares of Reservoir Media during the second quarter valued at approximately $34,000. 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.