Reservoir Media (NASDAQ:RSVR) Downgraded by Wall Street Zen to "Sell"

Reservoir Media (NASDAQ:RSVR - Get Free Report) was downgraded by Wall Street Zen from a "hold" rating to a "sell" rating in a report issued on Friday.

Reservoir Media Trading Down 2.2%

Reservoir Media stock traded down $0.17 during mid-day trading on Friday, hitting $7.63. The stock had a trading volume of 88,979 shares, compared to its average volume of 48,499. The stock has a 50-day simple moving average of $7.30 and a two-hundred day simple moving average of $7.98. The stock has a market capitalization of $497.73 million, a PE ratio of 69.37, a P/E/G ratio of 7.16 and a beta of 0.90. Reservoir Media has a 12 month low of $6.56 and a 12 month high of $9.83. The company has a current ratio of 1.20, a quick ratio of 1.20 and a debt-to-equity ratio of 1.03.

Reservoir Media (NASDAQ:RSVR - Get Free Report) last posted its quarterly earnings results on Wednesday, May 28th. The company reported $0.04 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.04. The business had revenue of $41.42 million for the quarter, compared to analysts' expectations of $40.31 million. Reservoir Media had a return on equity of 2.20% and a net margin of 5.04%. As a group, sell-side analysts forecast that Reservoir Media will post 0.11 EPS for the current year.

Hedge Funds Weigh In On Reservoir Media

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Irenic Capital Management LP boosted its holdings 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 buying an additional 65,421 shares during the last quarter. Russell Investments Group Ltd. boosted its holdings in Reservoir Media by 67.7% during the first quarter. Russell Investments Group Ltd. now owns 380,812 shares of the company's stock worth $2,906,000 after buying an additional 153,705 shares during the last quarter. 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 buying an additional 55,396 shares during the last quarter. Northern Trust Corp boosted its holdings in Reservoir Media by 2.5% during the fourth quarter. Northern Trust Corp now owns 203,686 shares of the company's stock worth $1,843,000 after buying an additional 4,983 shares during the last quarter. Finally, Hurley Capital LLC boosted its holdings in Reservoir Media by 3.4% during the first quarter. Hurley Capital LLC now owns 144,104 shares of the company's stock worth $1,100,000 after buying an additional 4,741 shares during the last quarter. Institutional investors own 44.38% of the company's stock.

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.