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 shares were sold at an average price of $7.62, for a total value of $568,131.96. Following the completion of the transaction, the director directly owned 214,895 shares of the company's stock, valued at approximately $1,637,499.90. This trade represents a 25.76% decrease in their position. The sale was disclosed in a document filed 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 value of $363,225.00.

Reservoir Media Trading Up 2.0%

Shares of NASDAQ:RSVR traded up $0.15 during midday trading on Monday, reaching $7.70. The company's stock had a trading volume of 67,857 shares, compared to its average volume of 105,030. The firm has a market cap of $504.81 million, a price-to-earnings ratio of 70.01, a price-to-earnings-growth ratio of 6.57 and a beta of 0.89. The company has a quick ratio of 1.29, a current ratio of 1.29 and a debt-to-equity ratio of 1.05. Reservoir Media, Inc. has a 1 year low of $6.56 and a 1 year high of $9.83. The business has a 50 day moving average price of $7.64 and a 200 day moving average price of $7.57.

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

Analyst Ratings Changes

RSVR has been the subject of several recent research reports. Wall Street Zen raised Reservoir Media from a "sell" rating to a "hold" rating in a report on Monday, June 23rd. B. Riley restated a "buy" rating and set a $11.50 price target (down from $12.50) on shares of Reservoir Media in a research report on Friday, June 6th.

Hedge Funds Weigh In On Reservoir Media

Institutional investors have recently made changes to their positions in the stock. Police & Firemen s Retirement System of New Jersey bought a new position in Reservoir Media during the 2nd quarter valued at $34,000. Geode Capital Management LLC lifted its holdings in shares of Reservoir Media by 2.8% in the second quarter. Geode Capital Management LLC now owns 641,418 shares of the company's stock valued at $4,921,000 after purchasing an additional 17,384 shares in the last quarter. Boston Partners raised its holdings in shares of Reservoir Media by 4.7% during the second quarter. Boston Partners now owns 100,314 shares of the company's stock worth $769,000 after acquiring an additional 4,464 shares in the last quarter. First Pacific Advisors LP increased its position in Reservoir Media by 4,906.3% during the second quarter. First Pacific Advisors LP now owns 329,066 shares of the company's stock worth $2,524,000 after buying an additional 322,493 shares during the last quarter. Finally, Inspire Investing LLC increased its position in Reservoir Media by 10.2% during the second quarter. Inspire Investing LLC now owns 51,610 shares of the company's stock worth $396,000 after buying an additional 4,772 shares during the last quarter. 44.38% of the stock is owned by institutional investors.

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.

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