Reservoir Media (NASDAQ:RSVR) Shares Gap Down - Here's Why

Key Points

• Reservoir Media shares opened lower, falling from a prior close of $9.75 to $9.44 before last trading at $9.5530 on light volume.
• Weiss Ratings downgraded the stock from “hold (c)” to “hold (c-),” while all three tracked analysts maintain a Hold rating.
• The company recently beat quarterly estimates, reporting $0.07 in EPS versus $0.05 expected and revenue of $47.5 million versus $44.45 million forecast; institutional investors own 44.38% of the shares.

Reservoir Media, Inc. (NASDAQ:RSVR - Get Free Report) shares gapped down prior to trading on Monday . The stock had previously closed at $9.75, but opened at $9.44. Reservoir Media shares last traded at $9.5530, with a volume of 1,547 shares changing hands.

Analyst Upgrades and Downgrades

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

Reservoir Media Trading Down 0.4%

The business's fifty day moving average is $10.15 and its 200-day moving average is $9.81. The firm has a market cap of $633.13 million, a P/E ratio of 74.01 and a beta of 0.75. The company has a debt-to-equity ratio of 1.22, a quick ratio of 1.31 and a current ratio of 1.31.

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

Institutional Investors Weigh In On Reservoir Media

Several large investors have recently modified their holdings of RSVR. California State Teachers Retirement System raised its stake in Reservoir Media by 142.7% during the second quarter. California State Teachers Retirement System now owns 2,670 shares of the company's stock worth $270,000 after buying an additional 1,570 shares during the last quarter. Irenic Capital Management LP boosted its position in Reservoir Media by 1.3% during the second quarter. Irenic Capital Management LP now owns 6,260,176 shares of the company's stock valued at $61,913,000 after acquiring an additional 79,000 shares during the last quarter. Nantahala Capital Management LLC bought a new stake in Reservoir Media during the second quarter valued at $9,306,094. Bank of America Corp DE acquired a new stake in Reservoir Media during the 2nd quarter worth about $179,000. Finally, AWM Investment Company Inc. acquired a new stake in Reservoir Media during the 2nd quarter worth about $5,395,000. 44.38% of the stock is currently owned by institutional investors and hedge funds.

Reservoir Media Company 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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