Reservoir Media, Inc. (NASDAQ:RSVR) Director Adam Rothstein Sells 48,430 Shares

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 that occurred on Friday, August 8th. The stock was sold at an average price of $7.50, for a total transaction of $363,225.00. Following the transaction, the director owned 166,465 shares in the company, valued at approximately $1,248,487.50. This trade represents a 22.54% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website.

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 value of $568,131.96.

Reservoir Media Price Performance

Shares of RSVR stock traded down $0.03 during mid-day trading on Friday, reaching $7.59. The stock had a trading volume of 6,563 shares, compared to its average volume of 56,950. Reservoir Media, Inc. has a 12-month low of $6.56 and a 12-month high of $9.83. The company has a market cap of $497.60 million, a P/E ratio of 69.01, a price-to-earnings-growth ratio of 6.77 and a beta of 0.89. The business has a 50-day simple moving average of $7.66 and a 200 day simple moving average of $7.57. The company has a current ratio of 1.29, a quick ratio of 1.29 and a debt-to-equity ratio of 1.05.

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 the consensus estimate of ($0.01). The company had revenue of $37.16 billion during the quarter, compared to analysts' expectations of $36.88 million. Reservoir Media had a return on equity of 2.07% and a net margin of 4.67%. On average, sell-side analysts anticipate that Reservoir Media, Inc. will post 0.11 earnings per share for the current year.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on RSVR shares. B. Riley reaffirmed a "buy" rating and set a $11.50 price target (down from $12.50) on shares of Reservoir Media in a report on Friday, June 6th. Wall Street Zen raised Reservoir Media from a "sell" rating to a "hold" rating in a report on Monday, June 23rd.

Institutional Trading of Reservoir Media

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Police & Firemen s Retirement System of New Jersey purchased a new stake in Reservoir Media in the 2nd quarter valued at about $34,000. First Pacific Advisors LP acquired a new position in shares of Reservoir Media in the 1st quarter valued at about $50,000. BNP Paribas Financial Markets acquired a new position in Reservoir Media during the 4th quarter worth approximately $51,000. Corton Capital Inc. acquired a new position in Reservoir Media during the 1st quarter worth approximately $105,000. Finally, Wells Fargo & Company MN lifted its position in Reservoir Media by 22.4% during the 4th quarter. Wells Fargo & Company MN now owns 13,851 shares of the company's stock worth $125,000 after acquiring an additional 2,531 shares in the last quarter. Hedge funds and other institutional investors own 44.38% 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.