North Star Investment Management Corp. Makes New Investment in Reservoir Media, Inc. (NASDAQ:RSVR)

North Star Investment Management Corp. bought a new stake in Reservoir Media, Inc. (NASDAQ:RSVR - Free Report) in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor bought 39,000 shares of the company's stock, valued at approximately $298,000. North Star Investment Management Corp. owned about 0.06% of Reservoir Media as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of the business. BNP Paribas Financial Markets acquired a new stake in shares of Reservoir Media in the 4th quarter worth $51,000. Wells Fargo & Company MN grew its holdings in shares of Reservoir Media by 22.4% in the fourth quarter. Wells Fargo & Company MN now owns 13,851 shares of the company's stock valued at $125,000 after purchasing an additional 2,531 shares during the period. Meridian Wealth Advisors LLC grew its holdings in shares of Reservoir Media by 49.7% in the fourth quarter. Meridian Wealth Advisors LLC now owns 14,974 shares of the company's stock valued at $136,000 after purchasing an additional 4,974 shares during the period. Bank of America Corp DE increased its position in Reservoir Media by 21.3% during the fourth quarter. Bank of America Corp DE now owns 30,062 shares of the company's stock worth $272,000 after purchasing an additional 5,273 shares during the last quarter. Finally, Integrated Quantitative Investments LLC acquired a new stake in Reservoir Media during the fourth quarter worth about $304,000. 44.38% of the stock is owned by hedge funds and other institutional investors.

Reservoir Media Trading Up 1.9%

Shares of NASDAQ:RSVR traded up $0.14 during midday trading on Thursday, reaching $7.47. 46,526 shares of the company's stock were exchanged, compared to its average volume of 46,517. The stock has a market cap of $487.79 million, a price-to-earnings ratio of 67.92, a P/E/G ratio of 4.73 and a beta of 0.90. Reservoir Media, Inc. has a fifty-two week low of $6.56 and a fifty-two week high of $9.83. The firm's 50 day simple moving average is $7.33 and its two-hundred day simple moving average is $7.84. The company has a debt-to-equity ratio of 1.06, a current ratio of 1.20 and a quick ratio of 1.20.

Reservoir Media (NASDAQ:RSVR - Get Free Report) last announced its earnings results on Wednesday, May 28th. The company reported $0.04 earnings per share for the quarter, hitting the consensus estimate of $0.04. The company had revenue of $41.42 million during the quarter, compared to analyst estimates of $40.31 million. Reservoir Media had a net margin of 4.88% and a return on equity of 2.15%. As a group, sell-side analysts forecast that Reservoir Media, Inc. will post 0.11 EPS for the current fiscal year.

Analysts Set New Price Targets

Several equities analysts have weighed in on the stock. Wall Street Zen lowered shares of Reservoir Media from a "hold" rating to a "sell" rating in a report on Sunday. B. Riley reiterated a "buy" rating and issued a $11.50 price objective (down from $12.50) on shares of Reservoir Media in a research report on Friday, June 6th.

Reservoir Media 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.