Reservoir Media (NASDAQ:RSVR) Trading Down 2.9% - Here's Why

Reservoir Media, Inc. (NASDAQ:RSVR - Get Free Report)'s stock price was down 2.9% during trading on Wednesday . The stock traded as low as $7.33 and last traded at $7.35. Approximately 106,988 shares changed hands during trading, an increase of 129% from the average daily volume of 46,719 shares. The stock had previously closed at $7.57.

Analyst Ratings Changes

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

Reservoir Media Stock Down 0.1%

The company has a current ratio of 1.20, a quick ratio of 1.20 and a debt-to-equity ratio of 1.06. The stock has a market capitalization of $482.57 million, a P/E ratio of 67.19, a P/E/G ratio of 4.74 and a beta of 0.88. The stock's 50-day moving average price is $7.53 and its two-hundred day moving average price is $7.62.

Reservoir Media (NASDAQ:RSVR - Get Free Report) last posted its quarterly earnings results on Wednesday, May 28th. The company reported $0.04 EPS for the quarter, hitting analysts' consensus estimates of $0.04. The company had revenue of $41.42 million for the quarter, compared to analysts' expectations of $40.31 million. Reservoir Media had a net margin of 4.88% and a return on equity of 2.15%. As a group, research analysts expect that Reservoir Media, Inc. will post 0.11 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Reservoir Media

Hedge funds have recently modified their holdings of the stock. JPMorgan Chase & Co. raised its holdings in shares of Reservoir Media by 58.9% in the 4th quarter. JPMorgan Chase & Co. now owns 104,146 shares of the company's stock worth $943,000 after purchasing an additional 38,609 shares during the period. North Star Investment Management Corp. purchased a new stake in shares of Reservoir Media during the 1st quarter valued at approximately $298,000. Dimensional Fund Advisors LP lifted its stake in shares of Reservoir Media by 18.6% during the 4th quarter. Dimensional Fund Advisors LP now owns 352,568 shares of the company's stock valued at $3,191,000 after buying an additional 55,396 shares in the last quarter. Barclays PLC lifted its stake in shares of Reservoir Media by 9.1% during the 4th quarter. Barclays PLC now owns 66,537 shares of the company's stock valued at $603,000 after buying an additional 5,549 shares in the last quarter. Finally, Schonfeld Strategic Advisors LLC purchased a new stake in shares of Reservoir Media during the 4th quarter valued at approximately $1,131,000. Institutional investors own 44.38% of the company's stock.

About Reservoir Media

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.