Nantahala Capital Management LLC Purchases Shares of 940,960 Reservoir Media, Inc. $RSVR

Nantahala Capital Management LLC bought a new position in Reservoir Media, Inc. (NASDAQ:RSVR) in the 2nd quarter, Holdings Channel.com reports. The fund bought 940,960 shares of the company’s stock, valued at approximately $9,306,094.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Irenic Capital Management LP raised its stake in shares of Reservoir Media by 3.3% in the 1st quarter. Irenic Capital Management LP now owns 6,181,176 shares of the company’s stock valued at $60,514,000 after acquiring an additional 195,000 shares during the period. AWM Investment Company Inc. acquired a new stake in Reservoir Media in the 2nd quarter valued at $5,395,000. Dimensional Fund Advisors LP increased its holdings in Reservoir Media by 6.3% in the 1st quarter. Dimensional Fund Advisors LP now owns 1,140,363 shares of the company’s stock valued at $11,163,000 after purchasing an additional 67,546 shares in the last quarter. 683 Capital Management LLC purchased a new position in Reservoir Media in the fourth quarter valued at about $1,188,000. Finally, BNP Paribas Financial Markets lifted its stake in shares of Reservoir Media by 146.2% during the third quarter. BNP Paribas Financial Markets now owns 17,244 shares of the company’s stock worth $140,000 after purchasing an additional 10,241 shares in the last quarter. 44.38% of the stock is currently owned by institutional investors.

Reservoir Media Trading Down 0.9%

NASDAQ RSVR opened at $9.66 on Friday. The stock has a market cap of $635.72 million, a P/E ratio of 74.31 and a beta of 0.75. The company’s fifty day simple moving average is $10.15 and its 200-day simple moving average is $9.80. The company has a current ratio of 1.31, a quick ratio of 1.31 and a debt-to-equity ratio of 1.22. Reservoir Media, Inc. has a 52 week low of $7.07 and a 52 week high of $13.39.

Reservoir Media (NASDAQ:RSVR) last released its quarterly earnings results on Thursday, May 28th. The company reported $0.07 earnings per share for the quarter, beating analysts’ consensus estimates of $0.05 by $0.02. Reservoir Media had a net margin of 4.87% and a return on equity of 2.33%. The business had revenue of $47.50 million during the quarter, compared to analyst estimates of $44.45 million. Equities research analysts predict that Reservoir Media, Inc. will post 0.13 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings downgraded Reservoir Media from a “hold (c)” rating to a “hold (c-)” rating in a research report on Thursday, August 20th. Three research analysts have rated the stock with a Hold rating, According to MarketBeat, Reservoir Media currently has an average rating of “Hold”.

Reservoir Media Company Profile

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.