Reservoir Media (NASDAQ:RSVR) Shares Down 6.7% – Here’s Why

Reservoir Media, Inc. (NASDAQ:RSVR)’s stock price traded down 6.7% during trading on Tuesday . The company traded as low as $9.27 and last traded at $9.0840. Approximately 19,127 shares changed hands during mid-day trading, a decline of 74% from the average session volume of 73,393 shares. The stock had previously closed at $9.74.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings cut shares of Reservoir Media from a “hold (c)” rating to a “hold (c-)” rating in a research note on Thursday, August 20th. Three investment analysts have rated the stock with a Hold rating, According to MarketBeat.com, the company presently has an average rating of “Hold”.

Reservoir Media Price Performance

The company has a quick ratio of 1.31, a current ratio of 1.31 and a debt-to-equity ratio of 1.22. The stock has a market capitalization of $582.42 million, a price-to-earnings ratio of 68.08 and a beta of 0.74. The company’s 50-day simple moving average is $10.05 and its 200 day simple moving average is $9.92.

Institutional Trading of Reservoir Media

Large investors have recently made changes to their positions in the stock. BNP Paribas Financial Markets raised 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 valued at $54,000 after acquiring an additional 3,521 shares in the last quarter. Tower Research Capital LLC TRC boosted its position in 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 purchasing an additional 5,918 shares during the period. Invesco Ltd. grew its holdings in 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 purchasing an additional 2,433 shares during the last quarter. Squarepoint Ops LLC acquired a new position in Reservoir Media during the second quarter valued at approximately $123,000. Finally, Wells Fargo & Company MN raised its position in shares of 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 purchasing an additional 7,421 shares during the period. 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.