Reservoir Media (NASDAQ:RSVR) Sees Large Volume Increase - Time to Buy?

Shares of Reservoir Media, Inc. (NASDAQ:RSVR - Get Free Report) saw an uptick in trading volume on Wednesday . 137,295 shares changed hands during mid-day trading, an increase of 188% from the previous session's volume of 47,621 shares.The stock last traded at $7.88 and had previously closed at $7.79.

Analysts Set New Price Targets

Several analysts have issued reports on the company. B. Riley reissued a "buy" rating and issued a $11.50 price target (down previously from $12.50) on shares of Reservoir Media in a research note on Friday, June 6th. Wall Street Zen upgraded Reservoir Media from a "sell" rating to a "hold" rating in a report on Monday, June 23rd.

Reservoir Media Trading Down 3.6%

The company has a quick ratio of 1.20, a current ratio of 1.20 and a debt-to-equity ratio of 1.06. The business has a fifty day moving average price of $7.57 and a 200-day moving average price of $7.59. The company has a market cap of $518.16 million, a P/E ratio of 72.14, a PEG ratio of 5.14 and a beta of 0.88.

Reservoir Media (NASDAQ:RSVR - Get Free Report) last released 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. Reservoir Media had a net margin of 4.88% and a return on equity of 2.15%. The company had revenue of $41.42 million during the quarter, compared to the consensus estimate of $40.31 million. On average, analysts forecast that Reservoir Media, Inc. will post 0.11 earnings per share for the current year.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. JPMorgan Chase & Co. raised its position in Reservoir Media by 58.9% during the fourth quarter. JPMorgan Chase & Co. now owns 104,146 shares of the company's stock valued at $943,000 after purchasing an additional 38,609 shares in the last quarter. North Star Investment Management Corp. acquired a new stake in Reservoir Media in the first quarter valued at $298,000. Dimensional Fund Advisors LP increased its holdings in Reservoir Media by 18.6% in the fourth quarter. Dimensional Fund Advisors LP now owns 352,568 shares of the company's stock valued at $3,191,000 after purchasing an additional 55,396 shares during the period. Barclays PLC increased its holdings in Reservoir Media by 9.1% in the fourth quarter. Barclays PLC now owns 66,537 shares of the company's stock valued at $603,000 after purchasing an additional 5,549 shares during the period. Finally, Schonfeld Strategic Advisors LLC acquired a new stake in Reservoir Media in the fourth quarter valued at $1,131,000. 44.38% of the stock is currently owned by institutional investors and hedge funds.

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.