Reservoir Media (NASDAQ:RSVR) Shares Down 4.1% - Here's What Happened

Key Points

• Reservoir Media shares fell 4.1% to $9.47 in Friday trading, with volume down 92% from its average.
• Weiss Ratings downgraded the stock from “hold (c+)” to “hold (c),” while all three tracked analysts maintain a Hold rating.
• The company exceeded quarterly expectations, reporting $0.07 in EPS versus $0.05 expected and revenue of $47.5 million versus $44.45 million projected; institutional investors own 44.38% of the shares.

Reservoir Media, Inc. (NASDAQ:RSVR - Get Free Report) dropped 4.1% during trading on Friday . The company traded as low as $9.47 and last traded at $9.47. Approximately 6,247 shares traded hands during trading, a decline of 92% from the average daily volume of 76,649 shares. The stock had previously closed at $9.88.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings cut shares of Reservoir Media from a "hold (c+)" rating to a "hold (c)" rating in a research report on Thursday, August 6th. Three research analysts have rated the stock with a Hold rating, According to MarketBeat.com, the company currently has an average rating of "Hold".

Reservoir Media Trading Up 1.1%

The company's 50 day moving average price is $10.20 and its two-hundred day moving average price is $9.71. The firm has a market cap of $650.20 million, a PE ratio of 76.01 and a beta of 0.75. The company has a quick ratio of 1.31, a current ratio of 1.31 and a debt-to-equity ratio of 1.22.

Reservoir Media (NASDAQ:RSVR - Get Free Report) last issued its quarterly earnings results on Thursday, May 28th. The company reported $0.07 EPS for the quarter, beating the consensus estimate of $0.05 by $0.02. The company had revenue of $47.50 million for the quarter, compared to the consensus estimate of $44.45 million. Reservoir Media had a net margin of 4.87% and a return on equity of 2.33%. As a group, sell-side analysts forecast that Reservoir Media, Inc. will post 0.13 EPS for the current year.

Institutional Investors Weigh In On Reservoir Media

A number of institutional investors and hedge funds have recently modified their holdings of the business. Nantahala Capital Management LLC bought a new position in Reservoir Media in the 2nd quarter valued at $9,306,094,000. Bank of America Corp DE bought a new stake in Reservoir Media during the 2nd quarter valued at about $179,000. AWM Investment Company Inc. purchased a new stake in Reservoir Media in the 2nd quarter valued at about $5,395,000. BlackRock Inc. purchased a new stake in Reservoir Media in the 2nd quarter valued at about $12,533,000. Finally, Deutsche Bank AG bought a new position in Reservoir Media in the 2nd quarter worth about $189,000. 44.38% of the stock is owned by institutional investors.

Reservoir Media Company Profile

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.

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