Nantahala Capital Management LLC Acquires New Shares in Reservoir Media, Inc. $RSVR

Key Points

• Nantahala Capital Management acquired 940,960 shares of Reservoir Media, worth approximately $9.3 million and representing about 1.43% of the company. Institutional investors collectively own 44.38% of RSVR.
• Reservoir Media recently reported quarterly EPS of $0.07, exceeding estimates of $0.05, while revenue of $47.5 million also surpassed expectations.
• RSVR shares opened at $9.66, down 0.9%, and analysts maintain a consensus “Hold” rating; Weiss Ratings recently downgraded the stock’s outlook from “hold (c)” to “hold (c-).”

Nantahala Capital Management LLC bought a new stake in shares of Reservoir Media, Inc. (NASDAQ:RSVR - Free Report) during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm bought 940,960 shares of the company's stock, valued at approximately $9,306,094. Nantahala Capital Management LLC owned about 1.43% of Reservoir Media at the end of the most recent quarter.

Other institutional investors and hedge funds have also modified their holdings of the company. Bank of America Corp DE bought a new position in shares of Reservoir Media during the second quarter valued at $179,000. AWM Investment Company Inc. bought a new stake in shares of Reservoir Media in the second quarter worth $5,395,000. BlackRock Inc. bought a new stake in shares of Reservoir Media in the second quarter worth $12,533,000. Deutsche Bank AG purchased a new stake in Reservoir Media during the second quarter valued at $189,000. Finally, Bank of New York Mellon Corp purchased a new stake in Reservoir Media during the second quarter valued at $696,000. Institutional investors own 44.38% of the company's stock.

Reservoir Media Trading Down 0.9%

Shares of RSVR stock opened at $9.66 on Friday. Reservoir Media, Inc. has a 1 year low of $7.07 and a 1 year high of $13.39. The firm has a fifty day moving average price of $10.15 and a 200-day moving average price of $9.80. The company has a debt-to-equity ratio of 1.22, a current ratio of 1.31 and a quick ratio of 1.31. The company has a market cap of $635.72 million, a price-to-earnings ratio of 74.31 and a beta of 0.75.

Reservoir Media (NASDAQ:RSVR - Get Free Report) last posted its quarterly earnings data on Thursday, May 28th. The company reported $0.07 EPS for the quarter, topping the consensus estimate of $0.05 by $0.02. The firm had revenue of $47.50 million during the quarter, compared to analyst estimates of $44.45 million. Reservoir Media had a return on equity of 2.33% and a net margin of 4.87%. As a group, equities analysts predict that Reservoir Media, Inc. will post 0.13 earnings per share for the current year.

Analyst Upgrades and Downgrades

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

Reservoir Media 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.

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