Reservoir Media (NASDAQ:RSVR) Shares Gap Down - What's Next?

Reservoir Media, Inc. (NASDAQ:RSVR - Get Free Report)'s stock price gapped down prior to trading on Wednesday . The stock had previously closed at $7.80, but opened at $7.31. Reservoir Media shares last traded at $7.70, with a volume of 22,522 shares traded.

Analyst Ratings Changes

Separately, Wall Street Zen lowered Reservoir Media from a "hold" rating to a "sell" rating in a research note on Friday.

Reservoir Media Stock Up 5.1%

The company has a debt-to-equity ratio of 1.03, a quick ratio of 1.20 and a current ratio of 1.20. The stock's 50 day moving average price is $7.30 and its 200-day moving average price is $7.99. The company has a market cap of $521.21 million, a PE ratio of 72.64, a PEG ratio of 7.16 and a beta of 0.90.

Reservoir Media (NASDAQ:RSVR - Get Free Report) last posted its quarterly earnings results on Wednesday, May 28th. The company reported $0.04 earnings per share for the quarter, hitting the consensus estimate of $0.04. Reservoir Media had a net margin of 5.04% and a return on equity of 2.20%. The business had revenue of $41.42 million during the quarter, compared to the consensus estimate of $40.31 million. On average, analysts predict that Reservoir Media, Inc. will post 0.11 earnings per share for the current year.

Institutional Investors Weigh In On Reservoir Media

Several institutional investors have recently bought and sold shares of RSVR. Irenic Capital Management LP lifted its position in Reservoir Media by 1.2% in the first quarter. Irenic Capital Management LP now owns 5,388,003 shares of the company's stock valued at $41,110,000 after purchasing an additional 65,421 shares during the last quarter. Russell Investments Group Ltd. lifted its position in Reservoir Media by 67.7% in the first quarter. Russell Investments Group Ltd. now owns 380,812 shares of the company's stock valued at $2,906,000 after purchasing an additional 153,705 shares during the last quarter. Dimensional Fund Advisors LP lifted its position 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 last quarter. Northern Trust Corp lifted its position in Reservoir Media by 2.5% in the fourth quarter. Northern Trust Corp now owns 203,686 shares of the company's stock valued at $1,843,000 after purchasing an additional 4,983 shares during the last quarter. Finally, Hurley Capital LLC lifted its position in Reservoir Media by 3.4% in the first quarter. Hurley Capital LLC now owns 144,104 shares of the company's stock valued at $1,100,000 after purchasing an additional 4,741 shares during the last quarter. 44.38% of the stock is currently owned by hedge funds and other 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.