Reservoir Media (NASDAQ:RSVR) Rating Increased to Hold at Wall Street Zen

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

Separately, B. Riley reiterated a "buy" rating and set a $11.50 price objective (down from $12.50) on shares of Reservoir Media in a research report on Friday.

Reservoir Media Price Performance

Shares of Reservoir Media stock opened at $7.30 on Friday. The company has a current ratio of 1.20, a quick ratio of 1.20 and a debt-to-equity ratio of 1.03. The firm has a market capitalization of $476.71 million, a PE ratio of 66.37, a price-to-earnings-growth ratio of 7.16 and a beta of 0.90. The business's 50-day moving average price is $7.31 and its 200-day moving average price is $7.95. Reservoir Media has a 12 month low of $6.56 and a 12 month high of $9.83.

Reservoir Media (NASDAQ:RSVR - Get Free Report) last announced its quarterly earnings data on Wednesday, May 28th. The company reported $0.04 EPS for the quarter, meeting the consensus estimate of $0.04. The firm 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%. Sell-side analysts forecast that Reservoir Media will post 0.11 EPS for the current fiscal year.

Hedge Funds Weigh In On Reservoir Media

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Inspire Investing LLC grew its position in Reservoir Media by 7.5% during the 1st quarter. Inspire Investing LLC now owns 46,838 shares of the company's stock worth $357,000 after acquiring an additional 3,281 shares during the last quarter. Jane Street Group LLC grew its position in Reservoir Media by 56.7% during the 1st quarter. Jane Street Group LLC now owns 49,649 shares of the company's stock worth $379,000 after acquiring an additional 17,963 shares during the last quarter. Goldman Sachs Group Inc. grew its position in Reservoir Media by 3.6% during the 1st quarter. Goldman Sachs Group Inc. now owns 90,003 shares of the company's stock worth $687,000 after acquiring an additional 3,110 shares during the last quarter. Repertoire Partners LP bought a new position in Reservoir Media during the 1st quarter worth approximately $385,000. Finally, Irenic Capital Management LP grew its position in Reservoir Media by 1.2% during the 1st 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. 44.38% of the stock is currently 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.

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