Reservoir Media (NASDAQ:RSVR) Sets New 12-Month High – Here’s Why

Reservoir Media, Inc. (NASDAQ:RSVR)’s share price reached a new 52-week high on Thursday . The company traded as high as $8.75 and last traded at $8.4250, with a volume of 104762 shares traded. The stock had previously closed at $7.58.

Analyst Ratings Changes

RSVR has been the subject of several analyst reports. Wall Street Zen raised Reservoir Media from a “sell” rating to a “hold” rating in a research note on Saturday, February 7th. Weiss Ratings reiterated a “hold (c)” rating on shares of Reservoir Media in a research note on Monday, December 29th. One equities research analyst has rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $11.50.

Reservoir Media Stock Performance

The firm has a 50 day moving average of $7.51 and a two-hundred day moving average of $7.59. 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 stock has a market cap of $577.61 million, a PE ratio of 97.50 and a beta of 0.88.

Reservoir Media (NASDAQ:RSVR) last announced its quarterly earnings results on Wednesday, February 4th. The company reported $0.03 earnings per share for the quarter, beating analysts’ consensus estimates 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. Research analysts predict that Reservoir Media, Inc. will post 0.11 EPS for the current fiscal year.

Institutional Trading of Reservoir Media

Several institutional investors and hedge funds have recently bought and sold shares of the business. First Pacific Advisors LP boosted its stake in Reservoir Media by 4,906.3% during the 2nd quarter. First Pacific Advisors LP now owns 329,066 shares of the company’s stock worth $2,524,000 after purchasing an additional 322,493 shares during the period. Irenic Capital Management LP lifted its position in Reservoir Media by 5.6% during the 4th quarter. Irenic Capital Management LP now owns 5,986,176 shares of the company’s stock worth $45,315,000 after acquiring an additional 316,505 shares during the period. 683 Capital Management LLC acquired a new position in shares of Reservoir Media in the fourth quarter valued at approximately $1,188,000. Russell Investments Group Ltd. increased its holdings in shares of Reservoir Media by 19.9% in the fourth quarter. Russell Investments Group Ltd. now owns 576,776 shares of the company’s stock valued at $4,366,000 after purchasing an additional 95,917 shares during the period. Finally, Dimensional Fund Advisors LP raised its stake in shares of Reservoir Media by 6.3% during the fourth quarter. Dimensional Fund Advisors LP now owns 1,072,817 shares of the company’s stock worth $8,121,000 after purchasing an additional 63,127 shares during the last quarter. Hedge funds and other institutional investors own 44.38% of the company’s stock.

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.