Reservoir Media, Inc. (NASDAQ:RSVR) Director Adam Rothstein Sells 74,558 Shares

Key Points

• Reservoir Media's Director, Adam Rothstein, sold 74,558 shares at an average price of $7.62, amounting to approximately $568,132, reducing his holdings by 25.76%.
• The company's stock has recently seen an uptick of 2.0%, reaching a value of $7.70, with a market cap of $504.81 million.
• Reservoir Media reported a quarterly revenue of $37.16 billion, surpassing analysts' expectations, and has received mixed analyst ratings, with some raising their outlook on the stock.

Reservoir Media, Inc. (NASDAQ:RSVR - Get Free Report) Director Adam Rothstein sold 74,558 shares of the business's stock in a transaction dated Thursday, August 7th. The stock was sold at an average price of $7.62, for a total transaction of $568,131.96. Following the sale, the director directly owned 214,895 shares in the company, valued at $1,637,499.90. This trade represents a 25.76% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.

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

• On Friday, August 8th, Adam Rothstein sold 48,430 shares of Reservoir Media stock. The shares were sold at an average price of $7.50, for a total transaction of $363,225.00.

Reservoir Media Price Performance

Shares of NASDAQ RSVR traded down $0.03 during trading hours on Friday, hitting $7.59. 6,563 shares of the stock were exchanged, compared to its average volume of 56,950. Reservoir Media, Inc. has a 1-year low of $6.56 and a 1-year 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 company has a market cap of $497.60 million, a PE ratio of 69.01, a price-to-earnings-growth ratio of 6.77 and a beta of 0.89. The company's fifty day simple moving average is $7.66 and its two-hundred day simple moving average is $7.57.

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

Hedge Funds Weigh In On Reservoir Media

Several institutional investors have recently made changes to their positions in the stock. Irenic Capital Management LP increased its position in shares of Reservoir Media by 1.2% during the first quarter. Irenic Capital Management LP now owns 5,388,003 shares of the company's stock worth $41,110,000 after acquiring an additional 65,421 shares in the last quarter. AWM Investment Company Inc. boosted its holdings in Reservoir Media by 6.3% during the second quarter. AWM Investment Company Inc. now owns 847,558 shares of the company's stock worth $6,501,000 after purchasing an additional 50,000 shares during the last quarter. Geode Capital Management LLC boosted its holdings in Reservoir Media by 2.8% during the second quarter. Geode Capital Management LLC now owns 641,418 shares of the company's stock worth $4,921,000 after purchasing an additional 17,384 shares during the last quarter. Russell Investments Group Ltd. boosted its holdings in Reservoir Media by 13.7% during the second quarter. Russell Investments Group Ltd. now owns 433,047 shares of the company's stock worth $3,321,000 after purchasing an additional 52,235 shares during the last quarter. Finally, Dimensional Fund Advisors LP boosted its holdings in Reservoir Media by 18.6% during the fourth quarter. Dimensional Fund Advisors LP now owns 352,568 shares of the company's stock worth $3,191,000 after purchasing an additional 55,396 shares during the last quarter. Institutional investors and hedge funds own 44.38% of the company's stock.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on RSVR shares. Wall Street Zen upgraded shares of Reservoir Media from a "sell" rating to a "hold" rating in a research note on Monday, June 23rd. B. Riley reiterated a "buy" rating and issued a $11.50 price target (down 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.