Reservoir Media (NASDAQ:RSVR) Issues Earnings Results

Reservoir Media (NASDAQ:RSVR) announced its earnings results on Wednesday. The company reported $0.03 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.02 by $0.01, FiscalAI reports. Reservoir Media had a return on equity of 2.62% and a net margin of 5.78%.The firm had revenue of $45.57 million during the quarter, compared to analyst estimates of $42.63 million.

Reservoir Media Stock Up 1.6%

NASDAQ:RSVR traded up $0.12 during trading hours on Wednesday, reaching $7.34. The company’s stock had a trading volume of 2,561 shares, compared to its average volume of 60,757. The company has a debt-to-equity ratio of 1.13, a quick ratio of 1.35 and a current ratio of 1.35. Reservoir Media has a 12 month low of $6.56 and a 12 month high of $8.94. The company has a market capitalization of $481.10 million, a P/E ratio of 52.39 and a beta of 0.88. The stock has a 50 day moving average price of $7.47 and a two-hundred day moving average price of $7.61.

Analysts Set New Price Targets

RSVR has been the topic of a number of recent analyst reports. Wall Street Zen downgraded Reservoir Media from a “hold” rating to a “sell” rating in a research report on Saturday, November 8th. Weiss Ratings reissued a “hold (c)” rating on shares of Reservoir Media in a research report on Monday, December 29th. One equities research analyst has rated the stock with a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $11.50.

Institutional Trading of Reservoir Media

Several large investors have recently bought and sold shares of the business. Bank of America Corp DE increased its position in Reservoir Media by 20.8% during the third quarter. Bank of America Corp DE now owns 51,178 shares of the company’s stock worth $417,000 after purchasing an additional 8,822 shares during the last quarter. BNP Paribas Financial Markets lifted its position in shares of Reservoir Media by 146.2% during the 3rd quarter. BNP Paribas Financial Markets now owns 17,244 shares of the company’s stock worth $140,000 after purchasing an additional 10,241 shares during the last quarter. Russell Investments Group Ltd. boosted its holdings in Reservoir Media by 11.0% in the third quarter. Russell Investments Group Ltd. now owns 480,859 shares of the company’s stock valued at $3,914,000 after purchasing an additional 47,812 shares in the last quarter. Gabelli Funds LLC lifted its holdings 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 valued at $224,000 after purchasing an additional 4,500 shares during the last quarter. Finally, Barclays PLC increased its stake in Reservoir Media by 12.8% in the third quarter. Barclays PLC now owns 129,426 shares of the company’s stock valued at $1,054,000 after purchasing an additional 14,683 shares during the period. 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.