Reservoir Media (NASDAQ:RSVR) Sees Large Volume Increase - Here's Why

Key Points

• Unusual volume: Shares traded jumped about 58% to 148,332 on Friday, with the stock last at $9.27 versus a prior close of $9.43.
• Analyst consensus is Hold: B. Riley cut its rating from "strong-buy" to "hold" while Wall Street Zen moved the stock from "sell" to "hold," leaving an average analyst rating of Hold and an average price target of $11.50.
• Earnings beat: The company reported Q4 EPS of $0.03 (vs. $0.02 est.) and revenue of $45.57M (vs. $42.63M est.), though the stock trades at a high P/E of about 103 and a market cap near $608M.

Shares of Reservoir Media, Inc. (NASDAQ:RSVR - Get Free Report) saw unusually-strong trading volume on Friday . Approximately 148,332 shares were traded during trading, an increase of 58% from the previous session's volume of 94,103 shares.The stock last traded at $9.2710 and had previously closed at $9.43.

Analyst Ratings Changes

A number of research firms have recently commented on RSVR. B. Riley Financial lowered Reservoir Media from a "strong-buy" rating to a "hold" rating in a research note on Wednesday, March 4th. Weiss Ratings restated a "hold (c)" rating on shares of Reservoir Media in a research note on Monday, December 29th. Finally, Wall Street Zen raised Reservoir Media from a "sell" rating to a "hold" rating in a research report on Saturday, February 7th. Three analysts have rated the stock with a Hold rating, Based on data from MarketBeat, Reservoir Media has an average rating of "Hold" and an average target price of $11.50.

Reservoir Media Stock Performance

The firm's fifty day moving average price is $8.18 and its 200-day moving average price is $7.79. The company has a market cap of $607.78 million, a P/E ratio of 102.98 and a beta of 0.84. The company has a current ratio of 1.19, a quick ratio of 1.19 and a debt-to-equity ratio of 1.21.

Reservoir Media (NASDAQ:RSVR - Get Free Report) last issued its earnings results on Wednesday, February 4th. The company reported $0.03 earnings per share for the quarter, beating the consensus estimate of $0.02 by $0.01. Reservoir Media had a net margin of 3.87% and a return on equity of 1.77%. The business had revenue of $45.57 million for the quarter, compared to analyst estimates of $42.63 million. As a group, research analysts forecast that Reservoir Media, Inc. will post 0.11 EPS for the current fiscal year.

Hedge Funds Weigh In On Reservoir Media

A number of hedge funds have recently modified their holdings of the stock. Invesco Ltd. boosted its stake in Reservoir Media by 22.1% in the 4th quarter. Invesco Ltd. now owns 13,446 shares of the company's stock valued at $102,000 after buying an additional 2,433 shares in the last quarter. Inspire Investing LLC raised its stake in Reservoir Media by 10.3% during the fourth quarter. Inspire Investing LLC now owns 62,494 shares of the company's stock worth $473,000 after acquiring an additional 5,842 shares in the last quarter. Irenic Capital Management LP lifted its holdings in shares of Reservoir Media by 5.6% during the fourth quarter. Irenic Capital Management LP now owns 5,986,176 shares of the company's stock valued at $45,315,000 after acquiring an additional 316,505 shares during the period. 683 Capital Management LLC acquired a new stake in shares of Reservoir Media in the 4th quarter valued at $1,188,000. Finally, Russell Investments Group Ltd. boosted its stake in shares of Reservoir Media by 19.9% in the 4th quarter. Russell Investments Group Ltd. now owns 576,776 shares of the company's stock valued at $4,366,000 after purchasing an additional 95,917 shares in the last quarter. 44.38% of the stock is owned by institutional investors and hedge funds.

About Reservoir Media

Reservoir Media Inc is a global independent music rights management company that acquires, administers and monetizes music publishing and master recording assets. Its business model centers on building a diverse portfolio of copyrights and recordings across genres, then generating revenue through licensing, royalty collection and direct-to-fan initiatives. Reservoir’s catalog includes works by established and emerging songwriters and artists, spanning pop, rock, country, R&B and other contemporary styles.

The company operates two primary segments: music publishing and recorded music.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.