Wall Street Zen Downgrades Reservoir Media (NASDAQ:RSVR) to Sell

Wall Street Zen lowered shares of Reservoir Media (NASDAQ:RSVR - Free Report) from a hold rating to a sell rating in a report issued on Sunday.

Separately, B. Riley restated a "buy" rating and set a $11.50 price target (down previously from $12.50) on shares of Reservoir Media in a research report on Friday, June 6th.

Reservoir Media Price Performance

Shares of Reservoir Media stock traded up $0.14 on Friday, reaching $7.47. The company's stock had a trading volume of 46,526 shares, compared to its average volume of 46,517. The company has a quick ratio of 1.20, a current ratio of 1.20 and a debt-to-equity ratio of 1.06. The company has a market capitalization of $487.79 million, a P/E ratio of 67.92, a PEG ratio of 4.73 and a beta of 0.90. The stock has a 50-day moving average price of $7.33 and a 200-day moving average price of $7.84. Reservoir Media has a 52-week low of $6.56 and a 52-week high of $9.83.

Reservoir Media (NASDAQ:RSVR - Get Free Report) last issued its quarterly earnings results on Wednesday, May 28th. The company reported $0.04 EPS for the quarter, hitting the consensus estimate of $0.04. The company had revenue of $41.42 million during the quarter, compared to analyst estimates of $40.31 million. Reservoir Media had a net margin of 4.88% and a return on equity of 2.15%. Analysts expect that Reservoir Media will post 0.11 EPS for the current year.

Institutional Trading of Reservoir Media

A number of institutional investors have recently made changes to their positions in RSVR. Russell Investments Group Ltd. lifted its holdings in Reservoir Media by 67.7% in the 1st quarter. Russell Investments Group Ltd. now owns 380,812 shares of the company's stock valued at $2,906,000 after purchasing an additional 153,705 shares in the last quarter. Hurley Capital LLC acquired a new stake in shares of Reservoir Media in the fourth quarter valued at about $1,183,000. Schonfeld Strategic Advisors LLC purchased a new position in shares of Reservoir Media in the fourth quarter worth about $1,131,000. Irenic Capital Management LP boosted its position in 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 during the last quarter. Finally, Dimensional Fund Advisors LP grew its stake in Reservoir Media by 18.6% during the 4th quarter. Dimensional Fund Advisors LP now owns 352,568 shares of the company's stock valued at $3,191,000 after acquiring an additional 55,396 shares in the last quarter. 44.38% of the stock is owned by institutional investors and hedge funds.

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.