Irenic Capital Management LP Has $45.32 Million Position in Reservoir Media, Inc. $RSVR

Irenic Capital Management LP raised its position in Reservoir Media, Inc. (NASDAQ:RSVR) by 5.6% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 5,986,176 shares of the company’s stock after buying an additional 316,505 shares during the quarter. Reservoir Media comprises about 3.0% of Irenic Capital Management LP’s portfolio, making the stock its 6th largest position. Irenic Capital Management LP owned about 0.09% of Reservoir Media worth $45,315,000 at the end of the most recent reporting period.

Other hedge funds have also recently bought and sold shares of the company. BNP Paribas Financial Markets lifted its holdings in shares of Reservoir Media by 101.1% during the 2nd 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 period. Tower Research Capital LLC TRC lifted its holdings in shares of Reservoir Media by 373.1% during the 2nd 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 period. Wells Fargo & Company MN lifted its holdings in shares of Reservoir Media by 48.3% during the 4th quarter. Wells Fargo & Company MN now owns 22,780 shares of the company’s stock worth $172,000 after acquiring an additional 7,421 shares during the period. Gabelli Funds LLC lifted its holdings in shares of Reservoir Media by 19.6% during the 3rd quarter. Gabelli Funds LLC now owns 27,500 shares of the company’s stock worth $224,000 after acquiring an additional 4,500 shares during the period. Finally, Bank of America Corp DE lifted its holdings in shares of Reservoir Media by 31.4% during the 2nd quarter. Bank of America Corp DE now owns 42,356 shares of the company’s stock worth $325,000 after acquiring an additional 10,120 shares during the period. 44.38% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

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

Reservoir Media Price Performance

Reservoir Media stock opened at $10.20 on Thursday. The company has a current ratio of 1.41, a quick ratio of 1.41 and a debt-to-equity ratio of 1.20. The company has a market capitalization of $669.75 million, a PE ratio of 85.01 and a beta of 0.73. Reservoir Media, Inc. has a 12 month low of $7.07 and a 12 month high of $13.39. The stock has a 50-day moving average price of $10.13 and a two-hundred day moving average price of $8.83.

Reservoir Media (NASDAQ:RSVR) last posted its earnings results on Thursday, May 28th. The company reported $0.07 EPS for the quarter, beating 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%. Analysts expect that Reservoir Media, Inc. will post 0.13 EPS for the current year.

About Reservoir Media

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.