Reservoir Media (NASDAQ:RSVR) Announces Earnings Results, Hits Expectations

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

Reservoir Media Stock Up 5.1%

NASDAQ:RSVR traded up $0.39 during trading hours on Friday, reaching $7.99. 592,610 shares of the company traded hands, compared to its average volume of 48,430. The business's 50-day moving average price is $7.29 and its two-hundred day moving average price is $8.00. The stock has a market capitalization of $521.21 million, a P/E ratio of 72.64, a P/E/G ratio of 7.16 and a beta of 0.90. Reservoir Media has a 1 year low of $6.56 and a 1 year 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.

Institutional Inflows and Outflows

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