Reservoir Media (NASDAQ:RSVR) Rating Lowered to “Hold” at B. Riley Financial

Reservoir Media (NASDAQ:RSVR) was downgraded by analysts at B. Riley Financial from a “strong-buy” rating to a “hold” rating in a report released on Wednesday,Zacks.com reports.

A number of other equities analysts have also recently commented on the company. Wall Street Zen raised Reservoir Media from a “sell” rating to a “hold” rating in a report on Saturday, February 7th. Weiss Ratings restated a “hold (c)” rating on shares of Reservoir Media in a research report on Monday, December 29th. Three research analysts have rated the stock with a Hold rating, Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $11.50.

Reservoir Media Stock Performance

RSVR traded down $0.01 during mid-day trading on Wednesday, reaching $9.95. 12,559 shares of the company traded hands, compared to its average volume of 87,285. The stock has a market capitalization of $652.72 million, a P/E ratio of 110.57 and a beta of 0.84. Reservoir Media has a 52-week low of $6.56 and a 52-week high of $10.32. The company has a quick ratio of 1.19, a current ratio of 1.19 and a debt-to-equity ratio of 1.21. The company’s fifty day moving average price is $7.72 and its 200-day moving average price is $7.65.

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 return on equity of 1.77% and a net margin of 3.87%.The company had revenue of $45.57 million during the quarter, compared to analysts’ expectations of $42.63 million. On average, sell-side analysts expect that Reservoir Media will post 0.11 EPS for the current year.

Hedge Funds Weigh In On Reservoir Media

A number of institutional investors and hedge funds have recently made changes to their positions in RSVR. Police & Firemen s Retirement System of New Jersey purchased a new stake in shares of Reservoir Media in the second quarter valued at approximately $34,000. BNP Paribas Financial Markets increased its holdings in Reservoir Media by 101.1% during the 2nd quarter. BNP Paribas Financial Markets now owns 7,003 shares of the company’s stock worth $54,000 after purchasing an additional 3,521 shares during the period. Tower Research Capital LLC TRC raised its position in Reservoir Media by 373.1% during the 2nd quarter. Tower Research Capital LLC TRC now owns 7,504 shares of the company’s stock valued at $58,000 after purchasing an additional 5,918 shares in the last quarter. Invesco Ltd. lifted its holdings in shares of Reservoir Media by 22.1% in the 4th 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 period. Finally, Wells Fargo & Company MN grew its position in shares of Reservoir Media by 48.3% during the 4th quarter. Wells Fargo & Company MN now owns 22,780 shares of the company’s stock worth $172,000 after buying an additional 7,421 shares in the last quarter. 44.38% of the stock is owned by hedge funds and other 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.