683 Capital Management LLC Buys New Position in Reservoir Media, Inc. $RSVR

683 Capital Management LLC bought a new stake in shares of Reservoir Media, Inc. (NASDAQ:RSVR) in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm bought 156,954 shares of the company’s stock, valued at approximately $1,188,000. 683 Capital Management LLC owned approximately 0.24% of Reservoir Media as of its most recent SEC filing.

Other large investors have also bought and sold shares of the company. BNP Paribas Financial Markets boosted its stake in Reservoir Media by 101.1% during the second quarter. BNP Paribas Financial Markets now owns 7,003 shares of the company’s stock valued at $54,000 after buying an additional 3,521 shares in the last quarter. Tower Research Capital LLC TRC boosted its stake in Reservoir Media by 373.1% during the second quarter. Tower Research Capital LLC TRC now owns 7,504 shares of the company’s stock valued at $58,000 after buying an additional 5,918 shares in the last quarter. Wells Fargo & Company MN boosted its stake in Reservoir Media by 48.3% during the fourth quarter. Wells Fargo & Company MN now owns 22,780 shares of the company’s stock valued at $172,000 after buying an additional 7,421 shares in the last quarter. Gabelli Funds LLC boosted its stake in Reservoir Media by 19.6% during the third quarter. Gabelli Funds LLC now owns 27,500 shares of the company’s stock valued at $224,000 after buying an additional 4,500 shares in the last quarter. Finally, Bank of America Corp DE boosted its stake in Reservoir Media by 31.4% during the second quarter. Bank of America Corp DE now owns 42,356 shares of the company’s stock valued at $325,000 after buying an additional 10,120 shares in the last quarter. Institutional investors own 44.38% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on RSVR shares. Weiss Ratings upgraded Reservoir Media from a “hold (c)” rating to a “hold (c+)” rating in a research report on Tuesday, June 2nd. B. Riley Financial lowered Reservoir Media from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, March 4th. Three investment analysts have rated the stock with a Hold rating, Based on data from MarketBeat, the stock presently has a consensus rating of “Hold”.

Reservoir Media Trading Down 0.1%

NASDAQ:RSVR opened at $10.20 on Thursday. The stock has a fifty day simple moving average of $10.13 and a 200 day simple moving average of $8.83. The firm has a market capitalization of $669.75 million, a price-to-earnings ratio of 85.01 and a beta of 0.73. The company has a quick ratio of 1.41, a current ratio of 1.41 and a debt-to-equity ratio of 1.20. Reservoir Media, Inc. has a 1-year low of $7.07 and a 1-year high of $13.39.

Reservoir Media (NASDAQ:RSVR) last announced its quarterly earnings data on Thursday, May 28th. The company reported $0.07 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.05 by $0.02. The firm had revenue of $47.50 million during the quarter, compared to the consensus estimate of $44.45 million. Reservoir Media had a return on equity of 2.22% and a net margin of 4.73%. Sell-side analysts forecast that Reservoir Media, Inc. will post 0.13 earnings per share for the current year.

Reservoir Media 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.