Reservoir Media (NASDAQ:RSVR) Raised to Hold at Wall Street Zen

Reservoir Media (NASDAQ:RSVR) was upgraded by equities research analysts at Wall Street Zen from a “sell” rating to a “hold” rating in a research note issued to investors on Saturday.

Separately, B. Riley reissued a “buy” rating and set a $11.50 price target (down from $12.50) on shares of Reservoir Media in a research report on Friday.

Reservoir Media Price Performance

RSVR stock opened at $7.30 on Friday. The company has a debt-to-equity ratio of 1.03, a current ratio of 1.20 and a quick ratio of 1.20. The stock has a market capitalization of $476.71 million, a P/E ratio of 66.37, a P/E/G ratio of 7.16 and a beta of 0.90. The business has a 50-day moving average of $7.31 and a 200-day moving average of $7.93. Reservoir Media has a fifty-two week low of $6.56 and a fifty-two week high of $9.83.

Reservoir Media (NASDAQ:RSVR) last posted its quarterly earnings data on Wednesday, May 28th. The company reported $0.04 earnings per share for the quarter, hitting the consensus estimate of $0.04. The company had revenue of $41.42 million during the quarter, compared to analysts’ expectations of $40.31 million. Reservoir Media had a return on equity of 2.20% and a net margin of 5.04%. On average, sell-side analysts anticipate that Reservoir Media will post 0.11 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Reservoir Media

Institutional investors and hedge funds have recently made changes to their positions in the company. Inspire Investing LLC increased its stake in Reservoir Media by 7.5% during the 1st quarter. Inspire Investing LLC now owns 46,838 shares of the company’s stock worth $357,000 after acquiring an additional 3,281 shares during the period. Jane Street Group LLC increased its stake in Reservoir Media by 56.7% during the 1st quarter. Jane Street Group LLC now owns 49,649 shares of the company’s stock worth $379,000 after acquiring an additional 17,963 shares during the period. Goldman Sachs Group Inc. increased its stake in Reservoir Media by 3.6% during the 1st quarter. Goldman Sachs Group Inc. now owns 90,003 shares of the company’s stock worth $687,000 after acquiring an additional 3,110 shares during the period. Repertoire Partners LP bought a new position in Reservoir Media during the 1st quarter worth $385,000. Finally, Irenic Capital Management LP increased its stake in Reservoir Media by 1.2% during the 1st quarter. Irenic Capital Management LP now owns 5,388,003 shares of the company’s stock worth $41,110,000 after acquiring an additional 65,421 shares during the period. Institutional investors and hedge funds own 44.38% of the company’s stock.

About Reservoir Media

Reservoir Media, Inc operates as a music publishing company. It operates through two segments, Music Publishing and Recorded Music. The Music Publishing segment acquires interests in music catalogs, as well as signs songwriters. The Recorded Music segment engages in the acquisition of sound recording catalogs; discovery and development of recording artists; and marketing, distribution, sale, and licensing of the music catalogs.