Insider Selling: Reservoir Media (NASDAQ:RSVR) Director Sells 34,719 Shares of Stock

Key Points

• Adam Rothstein, a director at Reservoir Media, sold 34,719 shares of stock on September 9 for around $274,974, reducing his total holdings by approximately 19.55%.
• Reservoir Media's stock recently traded at $8.00 with a market capitalization of $524.47 million, while the company's 52-week range was $6.56 - $9.83.
• Analysts have varied ratings for Reservoir Media, with a consensus rating of "Buy" and a target price of $11.50, despite a recent downgrade from some analysts.

Reservoir Media, Inc. (NASDAQ:RSVR - Get Free Report) Director Adam Rothstein sold 34,719 shares of the company's stock in a transaction that occurred on Tuesday, September 9th. The stock was sold at an average price of $7.92, for a total transaction of $274,974.48. Following the transaction, the director owned 142,827 shares of the company's stock, valued at approximately $1,131,189.84. This represents a 19.55% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.

Adam Rothstein also recently made the following trade(s):

• On Wednesday, September 10th, Adam Rothstein sold 65,281 shares of Reservoir Media stock. The stock was sold at an average price of $7.80, for a total transaction of $509,191.80.
• On Friday, August 8th, Adam Rothstein sold 48,430 shares of Reservoir Media stock. The stock was sold at an average price of $7.50, for a total transaction of $363,225.00.
• On Thursday, August 7th, Adam Rothstein sold 74,558 shares of Reservoir Media stock. The stock was sold at an average price of $7.62, for a total transaction of $568,131.96.

Reservoir Media Trading Down 1.1%

RSVR traded down $0.09 during trading on Tuesday, reaching $7.86. 31,710 shares of the company's stock were exchanged, compared to its average volume of 53,912. Reservoir Media, Inc. has a one year low of $6.56 and a one year high of $9.83. The company has a current ratio of 1.29, a quick ratio of 1.29 and a debt-to-equity ratio of 1.05. The stock has a market capitalization of $515.30 million, a PE ratio of 71.46, a price-to-earnings-growth ratio of 6.91 and a beta of 0.88. The firm has a fifty day moving average price of $7.81 and a two-hundred day moving average price of $7.54.

Reservoir Media (NASDAQ:RSVR - Get Free Report) last posted its earnings results on Tuesday, August 5th. The company reported ($0.01) earnings per share for the quarter, hitting analysts' consensus estimates of ($0.01). Reservoir Media had a net margin of 4.67% and a return on equity of 2.07%. The firm had revenue of $37.16 billion for the quarter, compared to analyst estimates of $36.88 million. Reservoir Media has set its FY 2026 guidance at EPS. As a group, equities research analysts forecast that Reservoir Media, Inc. will post 0.11 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Reservoir Media

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Irenic Capital Management LP boosted its position in Reservoir Media by 1.2% during the first quarter. Irenic Capital Management LP now owns 5,388,003 shares of the company's stock worth $41,110,000 after purchasing an additional 65,421 shares during the period. AWM Investment Company Inc. raised its stake in shares of Reservoir Media by 6.3% during the second quarter. AWM Investment Company Inc. now owns 847,558 shares of the company's stock worth $6,501,000 after acquiring an additional 50,000 shares in the last quarter. Geode Capital Management LLC raised its stake in shares of Reservoir Media by 2.8% during the second quarter. Geode Capital Management LLC now owns 641,418 shares of the company's stock worth $4,921,000 after acquiring an additional 17,384 shares in the last quarter. Russell Investments Group Ltd. raised its stake in shares of Reservoir Media by 13.7% during the second quarter. Russell Investments Group Ltd. now owns 433,047 shares of the company's stock worth $3,321,000 after acquiring an additional 52,235 shares in the last quarter. Finally, Dimensional Fund Advisors LP increased its stake in shares of Reservoir Media by 18.6% in the fourth quarter. Dimensional Fund Advisors LP now owns 352,568 shares of the company's stock worth $3,191,000 after buying an additional 55,396 shares during the period. Institutional investors own 44.38% of the company's stock.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on the stock. B. Riley reaffirmed a "buy" rating and issued a $11.50 price objective (down from $12.50) on shares of Reservoir Media in a research note on Friday, June 6th. Wall Street Zen upgraded shares of Reservoir Media from a "sell" rating to a "hold" rating in a report on Monday, June 23rd. One analyst has rated the stock with a Buy rating, According to data from MarketBeat.com, the stock presently has a consensus rating of "Buy" and an average price target of $11.50.

Reservoir Media Company Profile

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.