Reservoir Media (NASDAQ:RSVR) Stock Price Down 6.7% - Should You Sell?

Key Points

• Reservoir Media shares dropped 6.7% to about $9.08 in Tuesday trading, on volume roughly 74% below the average session volume.
• Analyst sentiment remains cautious: three analysts rate the stock “Hold,” while Weiss Ratings lowered its rating from “hold (c)” to “hold (c-).”
• Reservoir Media has a market capitalization of approximately $570 million, a P/E ratio of 66.91, and institutional investors own 44.38% of its shares; several funds recently increased their positions.

Reservoir Media, Inc. (NASDAQ:RSVR - Get Free Report) shares fell 6.7% during trading on Tuesday . The company traded as low as $9.27 and last traded at $9.0840. Approximately 19,127 shares changed hands during mid-day trading, a decline of 74% from the average session volume of 73,393 shares. The stock had previously closed at $9.74.

Wall Street Analyst Weigh In

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

Reservoir Media Price Performance

The company's 50-day moving average price is $10.10 and its two-hundred day moving average price is $9.90. The company has a debt-to-equity ratio of 1.22, a current ratio of 1.31 and a quick ratio of 1.31. The company has a market capitalization of $570.44 million, a P/E ratio of 66.91 and a beta of 0.74.

Hedge Funds Weigh In On Reservoir Media

Several institutional investors and hedge funds have recently made changes to their positions in the company. BNP Paribas Financial Markets boosted its stake in Reservoir Media by 101.1% in the 2nd quarter. BNP Paribas Financial Markets now owns 7,003 shares of the company's stock valued at $54,000 after purchasing an additional 3,521 shares during the period. Tower Research Capital LLC TRC increased its position in Reservoir Media by 373.1% during the 2nd quarter. Tower Research Capital LLC TRC now owns 7,504 shares of the company's stock worth $58,000 after buying an additional 5,918 shares during the period. Invesco Ltd. lifted its holdings in shares of Reservoir Media by 22.1% during the fourth quarter. Invesco Ltd. now owns 13,446 shares of the company's stock worth $102,000 after buying an additional 2,433 shares in the last quarter. Wells Fargo & Company MN lifted its holdings in shares of Reservoir Media by 48.3% during the fourth quarter. Wells Fargo & Company MN now owns 22,780 shares of the company's stock worth $172,000 after buying an additional 7,421 shares in the last quarter. Finally, Bank of America Corp DE bought a new stake in shares of Reservoir Media in the second quarter valued at about $179,000. Institutional investors and hedge funds own 44.38% of the company's stock.

About Reservoir Media

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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