Reservoir Media (NASDAQ:RSVR) Shares Gap Up – Still a Buy?

Reservoir Media, Inc. (NASDAQ:RSVR) shares gapped up before the market opened on Friday . The stock had previously closed at $8.82, but opened at $9.45. Reservoir Media shares last traded at $9.0840, with a volume of 17,214 shares trading hands.

Wall Street Analyst Weigh In

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

Reservoir Media Stock Performance

The business’s 50 day simple moving average is $10.03 and its two-hundred day simple moving average is $9.92. The firm has a market capitalization of $611.64 million, a PE ratio of 71.54 and a beta of 0.74. The company has a current ratio of 1.31, a quick ratio of 1.31 and a debt-to-equity ratio of 1.22.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the company. Nantahala Capital Management LLC bought a new stake in Reservoir Media during the second quarter valued at approximately $9,306,094. AWM Investment Company Inc. bought a new stake in shares of Reservoir Media during the 2nd quarter valued at $5,395,000. Irenic Capital Management LP grew its position in shares of Reservoir Media by 3.3% during 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. BlackRock Inc. purchased a new stake in shares of Reservoir Media in the 2nd quarter worth $12,533,000. Finally, Dimensional Fund Advisors LP increased its stake in shares of Reservoir Media by 6.3% in the 1st quarter. Dimensional Fund Advisors LP now owns 1,140,363 shares of the company’s stock worth $11,163,000 after purchasing an additional 67,546 shares in the last quarter. 44.38% of the stock is owned by hedge funds and other institutional investors.

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.