Reservoir Media (NASDAQ:RSVR) Announces Quarterly Earnings Results, Beats Expectations By $0.02 EPS

Reservoir Media (NASDAQ:RSVR) posted its quarterly earnings results on Thursday. The company reported $0.07 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.05 by $0.02, Zacks reports. Reservoir Media had a net margin of 3.87% and a return on equity of 1.77%. The business had revenue of $47.50 million during the quarter, compared to the consensus estimate of $44.45 million.

Reservoir Media Stock Performance

NASDAQ RSVR opened at $10.40 on Thursday. Reservoir Media has a 1 year low of $6.97 and a 1 year high of $10.54. The company has a debt-to-equity ratio of 1.21, a current ratio of 1.19 and a quick ratio of 1.19. The firm has a market cap of $682.24 million, a price-to-earnings ratio of 115.57 and a beta of 0.74. The company has a fifty day moving average price of $9.91 and a 200-day moving average price of $8.52.

Institutional Trading of Reservoir Media

Institutional investors have recently made changes to their positions in the company. BNP Paribas Financial Markets boosted its stake in shares of Reservoir Media by 101.1% in the 2nd quarter. BNP Paribas Financial Markets now owns 7,003 shares of the company’s stock worth $54,000 after buying an additional 3,521 shares during the last quarter. Tower Research Capital LLC TRC boosted its stake in shares of Reservoir Media by 373.1% in the 2nd quarter. Tower Research Capital LLC TRC now owns 7,504 shares of the company’s stock worth $58,000 after buying an additional 5,918 shares during the last quarter. Invesco Ltd. boosted its stake in shares of Reservoir Media by 22.1% in the 4th quarter. Invesco Ltd. now owns 13,446 shares of the company’s stock worth $102,000 after buying an additional 2,433 shares during the last quarter. Wells Fargo & Company MN boosted its stake in shares of Reservoir Media by 48.3% in the 4th quarter. Wells Fargo & Company MN now owns 22,780 shares of the company’s stock worth $172,000 after buying an additional 7,421 shares during the last quarter. Finally, Gabelli Funds LLC boosted its stake in shares of Reservoir Media by 19.6% in the 3rd quarter. Gabelli Funds LLC now owns 27,500 shares of the company’s stock worth $224,000 after buying an additional 4,500 shares during the last quarter. Institutional investors own 44.38% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on RSVR shares. Weiss Ratings reissued a “hold (c)” rating on shares of Reservoir Media in a research report on Friday, March 27th. B. Riley Financial downgraded Reservoir Media from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, March 4th. Finally, Wall Street Zen upgraded Reservoir Media from a “sell” rating to a “hold” rating in a research note on Saturday, February 7th. Three investment analysts have rated the stock with a Hold rating, According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $11.50.

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.