Reservoir Media (NASDAQ:RSVR) Sees Large Volume Increase – What’s Next?

Reservoir Media, Inc. (NASDAQ:RSVR) shares saw an uptick in trading volume on Friday . 148,332 shares traded hands during trading, an increase of 58% from the previous session’s volume of 94,103 shares.The stock last traded at $9.2710 and had previously closed at $9.43.

Wall Street Analyst Weigh In

RSVR has been the topic of several research analyst reports. B. Riley Financial cut shares of Reservoir Media from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, March 4th. Wall Street Zen upgraded shares of Reservoir Media from a “sell” rating to a “hold” rating in a research note on Saturday, February 7th. Finally, Weiss Ratings restated a “hold (c)” rating on shares of Reservoir Media in a research report on Monday, December 29th. Three analysts have rated the stock with a Hold rating, According to MarketBeat.com, Reservoir Media currently has an average rating of “Hold” and an average target price of $11.50.

Reservoir Media Trading Down 1.7%

The company’s 50-day moving average is $8.18 and its 200-day moving average is $7.79. The company has a debt-to-equity ratio of 1.21, a quick ratio of 1.19 and a current ratio of 1.19. The firm has a market cap of $607.78 million, a price-to-earnings ratio of 102.98 and a beta of 0.84.

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 net margin of 3.87% and a return on equity of 1.77%. The firm had revenue of $45.57 million during the quarter, compared to analysts’ expectations of $42.63 million. On average, research analysts predict that Reservoir Media, Inc. will post 0.11 earnings per share for the current year.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the company. Police & Firemen s Retirement System of New Jersey bought a new position in Reservoir Media in the 2nd quarter valued at $34,000. BNP Paribas Financial Markets raised its position in shares of Reservoir Media by 101.1% during the second quarter. BNP Paribas Financial Markets now owns 7,003 shares of the company’s stock worth $54,000 after acquiring an additional 3,521 shares during the last quarter. Tower Research Capital LLC TRC raised its position in shares of Reservoir Media by 373.1% during the second quarter. Tower Research Capital LLC TRC now owns 7,504 shares of the company’s stock worth $58,000 after acquiring an additional 5,918 shares during the last quarter. Invesco Ltd. lifted its stake in shares of Reservoir Media by 22.1% during the fourth 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. Finally, Wells Fargo & Company MN boosted its holdings in Reservoir Media by 48.3% in the fourth quarter. Wells Fargo & Company MN now owns 22,780 shares of the company’s stock valued at $172,000 after acquiring an additional 7,421 shares during the last quarter. Institutional investors and hedge funds 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.