Reservoir Media, Inc. $RSVR Holdings Increased by Irenic Capital Management LP

Key Points

• Irenic Capital Management LP increased its stake in Reservoir Media by 1.2%, now holding 5,388,003 shares, worth approximately $41.1 million, making it the company's third largest position.
• Reservoir Media reported a net margin of 4.67% and revenue of $37.16 million for the quarter, matching analyst expectations for EPS at ($0.01).
• Analysts maintain a consensus "Buy" rating for Reservoir Media, with an average price target reduced to $11.50 from $12.50 according to B. Riley.

Irenic Capital Management LP raised its stake in shares of Reservoir Media, Inc. (NASDAQ:RSVR - Free Report) by 1.2% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 5,388,003 shares of the company's stock after purchasing an additional 65,421 shares during the quarter. Reservoir Media accounts for about 6.2% of Irenic Capital Management LP's holdings, making the stock its 3rd biggest holding. Irenic Capital Management LP owned approximately 8.26% of Reservoir Media worth $41,110,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also bought and sold shares of the stock. Russell Investments Group Ltd. lifted its position in Reservoir Media by 67.7% during the first quarter. Russell Investments Group Ltd. now owns 380,812 shares of the company's stock valued at $2,906,000 after purchasing an additional 153,705 shares during the last quarter. Dimensional Fund Advisors LP lifted its position in Reservoir Media by 18.6% during the fourth quarter. Dimensional Fund Advisors LP now owns 352,568 shares of the company's stock valued at $3,191,000 after purchasing an additional 55,396 shares during the last quarter. Northern Trust Corp lifted its position in Reservoir Media by 2.5% during the fourth quarter. Northern Trust Corp now owns 203,686 shares of the company's stock valued at $1,843,000 after purchasing an additional 4,983 shares during the last quarter. Hurley Capital LLC lifted its position in Reservoir Media by 3.4% during the first quarter. Hurley Capital LLC now owns 144,104 shares of the company's stock valued at $1,100,000 after purchasing an additional 4,741 shares during the last quarter. Finally, Schonfeld Strategic Advisors LLC bought a new stake in Reservoir Media during the fourth quarter valued at approximately $1,131,000. 44.38% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several brokerages have issued reports on RSVR. B. Riley reiterated a "buy" rating and set a $11.50 target price (down from $12.50) on shares of Reservoir Media in a research report on Friday, June 6th. Wall Street Zen upgraded shares of Reservoir Media from a "sell" rating to a "hold" rating in a research report on Monday, June 23rd. One research analyst has rated the stock with a Buy rating, According to data from MarketBeat.com, the stock currently has an average rating of "Buy" and an average target price of $11.50.

Reservoir Media Trading Up 1.0%

NASDAQ:RSVR traded up $0.08 during midday trading on Friday, reaching $7.93. 42,261 shares of the stock traded hands, compared to its average volume of 53,788. The company has a fifty day moving average of $7.79 and a 200 day moving average of $7.54. Reservoir Media, Inc. has a 12 month low of $6.56 and a 12 month high of $9.83. The company has a debt-to-equity ratio of 1.05, a quick ratio of 1.29 and a current ratio of 1.29. The stock has a market capitalization of $519.89 million, a P/E ratio of 72.10, a PEG ratio of 6.83 and a beta of 0.88.

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

Insider Transactions at Reservoir Media

In other Reservoir Media news, Director Adam Rothstein sold 74,558 shares of the business's stock in a transaction on Thursday, August 7th. The shares were sold at an average price of $7.62, for a total transaction of $568,131.96. Following the transaction, the director directly owned 214,895 shares of the company's stock, valued at approximately $1,637,499.90. The trade was a 25.76% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 27.00% of the company's stock.

About Reservoir Media

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.