Reservoir Media (NASDAQ:RSVR) Rating Lowered to Sell at Wall Street Zen

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

Reservoir Media Stock Performance

Shares of NASDAQ RSVR traded down $0.41 during trading hours on Friday, reaching $7.36. 49,535 shares of the stock were exchanged, compared to its average volume of 45,169. Reservoir Media has a 52 week low of $6.56 and a 52 week high of $9.83. The firm has a market capitalization of $480.11 million, a price-to-earnings ratio of 66.92, a P/E/G ratio of 7.16 and a beta of 0.90. The stock's fifty day simple moving average is $7.31 and its 200 day simple moving average is $7.97. The company has a debt-to-equity ratio of 1.03, a quick ratio of 1.20 and a current ratio of 1.20.

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 for the quarter, meeting analysts' consensus estimates of $0.04. The company had revenue of $41.42 million for the quarter, compared to the consensus estimate of $40.31 million. Reservoir Media had a net margin of 5.04% and a return on equity of 2.20%. Sell-side analysts predict that Reservoir Media will post 0.11 EPS for the current year.

Institutional Investors Weigh In On Reservoir Media

Several institutional investors have recently added to or reduced their stakes in the business. BNP Paribas Financial Markets bought a new position in Reservoir Media in the 4th quarter valued at $51,000. First Pacific Advisors LP purchased a new stake in shares of Reservoir Media in the 1st quarter valued at about $50,000. Corton Capital Inc. purchased a new position in shares of Reservoir Media during the first quarter worth about $105,000. Wells Fargo & Company MN increased its position in shares of Reservoir Media by 22.4% in the fourth quarter. Wells Fargo & Company MN now owns 13,851 shares of the company's stock worth $125,000 after purchasing an additional 2,531 shares during the last quarter. Finally, Meridian Wealth Advisors LLC raised its stake in Reservoir Media by 49.7% in the fourth quarter. Meridian Wealth Advisors LLC now owns 14,974 shares of the company's stock valued at $136,000 after purchasing an additional 4,974 shares in the last quarter. 44.38% of the stock is owned by hedge funds and other institutional investors.

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.