Reservoir Media (NASDAQ:RSVR) Announces Earnings Results

Reservoir Media (NASDAQ:RSVR - Get Free Report) issued its earnings results on Wednesday. The company reported $0.04 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.04, Zacks reports. Reservoir Media had a net margin of 5.04% and a return on equity of 2.20%. The business had revenue of $41.42 million for the quarter, compared to analyst estimates of $40.31 million.

Reservoir Media Stock Up 5.1%

Reservoir Media stock traded up $0.39 during mid-day trading on Friday, reaching $7.99. The stock had a trading volume of 592,610 shares, compared to its average volume of 48,337. The firm has a market capitalization of $521.21 million, a PE ratio of 72.64, a price-to-earnings-growth ratio of 7.16 and a beta of 0.90. Reservoir Media has a fifty-two week low of $6.56 and a fifty-two week high of $9.83. The stock's 50-day simple moving average is $7.30 and its 200-day simple moving average is $7.98. The company has a debt-to-equity ratio of 1.03, a quick ratio of 1.20 and a current ratio of 1.20.

Analyst Ratings Changes

Separately, Wall Street Zen cut shares of Reservoir Media from a "hold" rating to a "sell" rating in a research report on Friday.

Institutional Trading of Reservoir Media

An institutional investor recently raised its position in Reservoir Media stock. Jane Street Group LLC increased its stake in shares of Reservoir Media, Inc. (NASDAQ:RSVR - Free Report) by 56.7% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 49,649 shares of the company's stock after buying an additional 17,963 shares during the quarter. Jane Street Group LLC owned 0.08% of Reservoir Media worth $379,000 at the end of the most recent quarter. Institutional investors own 44.38% of the company's stock.

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.