Reservoir Media (NASDAQ:RSVR) Reaches New 12-Month High – Here’s What Happened

Reservoir Media, Inc. (NASDAQ:RSVR)’s share price reached a new 52-week high during trading on Thursday . The stock 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

A number of equities analysts have issued reports on the stock. Weiss Ratings restated a “hold (c)” rating on shares of Reservoir Media in a research report on Monday, December 29th. Wall Street Zen raised Reservoir Media from a “sell” rating to a “hold” rating in a research note on Saturday, February 7th. One investment analyst has rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, Reservoir Media presently has an average rating of “Hold” and a consensus price target of $11.50.

Reservoir Media Stock Up 0.3%

The stock has a fifty day moving average of $7.56 and a two-hundred day moving average of $7.61. The stock has a market cap of $588.43 million, a price-to-earnings ratio of 99.68 and a beta of 0.88. The company has a quick ratio of 1.19, a current ratio of 1.19 and a debt-to-equity ratio of 1.21.

Reservoir Media (NASDAQ:RSVR) last posted its quarterly earnings data on Wednesday, February 4th. The company reported $0.03 EPS 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 business had revenue of $45.57 million for the quarter, compared to analyst estimates of $42.63 million. As a group, analysts predict that Reservoir Media, Inc. will post 0.11 EPS for the current fiscal year.

Institutional Trading of Reservoir Media

A number of large investors have recently added to or reduced their stakes in RSVR. Invesco Ltd. grew its position in Reservoir Media by 22.1% in the fourth 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. Inspire Investing LLC boosted its stake in shares of Reservoir Media by 10.3% during the 4th quarter. Inspire Investing LLC now owns 62,494 shares of the company’s stock worth $473,000 after acquiring an additional 5,842 shares in the last quarter. Irenic Capital Management LP grew its holdings in shares of Reservoir Media by 5.6% in 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 last quarter. 683 Capital Management LLC acquired a new stake in shares of Reservoir Media during the fourth quarter worth $1,188,000. Finally, Russell Investments Group Ltd. lifted its holdings in shares of Reservoir Media by 19.9% during 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 last quarter. 44.38% of the stock is currently owned by institutional investors.

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.