Insider Selling: Reservoir Media, Inc. (NASDAQ:RSVR) Director Sells 48,430 Shares of Stock

Key Points

• Adam Rothstein, a Director at Reservoir Media, sold 48,430 shares of stock on August 8th for a total of $363,225, reducing his ownership by 22.54%.
• Reservoir Media's stock recently traded at $7.70, with a 52-week range of $6.56 to $9.83, and a market capitalization of approximately $504.81 million.
• The company reported an EPS of ($0.01) for the last quarter, aligning with analysts' expectations, and had a revenue of $37.16 million, slightly exceeding estimates.

Reservoir Media, Inc. (NASDAQ:RSVR - Get Free Report) Director Adam Rothstein sold 48,430 shares of the firm's stock in a transaction dated Friday, August 8th. The shares were sold at an average price of $7.50, for a total transaction of $363,225.00. Following the completion of the sale, the director owned 166,465 shares of the company's stock, valued at $1,248,487.50. The trade was a 22.54% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link.

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

• 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 Stock Performance

Shares of RSVR stock traded up $0.15 on Monday, hitting $7.70. The company's stock had a trading volume of 67,857 shares, compared to its average volume of 105,030. Reservoir Media, Inc. has a fifty-two week low of $6.56 and a fifty-two week high of $9.83. The stock's 50 day moving average is $7.64 and its 200-day moving average is $7.57. 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 company has a market capitalization of $504.81 million, a PE ratio of 70.01, a PEG ratio of 6.57 and a beta of 0.89.

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

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the business. Police & Firemen s Retirement System of New Jersey acquired a new stake in shares of Reservoir Media during the 2nd quarter worth approximately $34,000. First Pacific Advisors LP acquired a new stake in Reservoir Media in the 1st quarter valued at $50,000. BNP Paribas Financial Markets acquired a new stake in Reservoir Media in the 4th quarter valued at $51,000. Corton Capital Inc. acquired a new stake in Reservoir Media in the 1st quarter valued at $105,000. Finally, Wells Fargo & Company MN grew its position in Reservoir Media by 22.4% in the 4th 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. Institutional investors own 44.38% of the company's stock.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on the stock. Wall Street Zen raised shares of Reservoir Media from a "sell" rating to a "hold" rating in a research note on Monday, June 23rd. B. Riley reaffirmed a "buy" rating and issued a $11.50 price target (down previously from $12.50) on shares of Reservoir Media in a research note on Friday, June 6th.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.