Reservoir Media (NASDAQ:RSVR) Upgraded to "Hold" at Wall Street Zen

Wall Street Zen upgraded shares of Reservoir Media (NASDAQ:RSVR - Free Report) from a sell rating to a hold rating in a research report sent to investors on Monday morning.

Separately, B. Riley reissued a "buy" rating and issued a $11.50 price objective (down from $12.50) on shares of Reservoir Media in a report on Friday, June 6th.

Reservoir Media Stock Up 1.5%

Shares of RSVR stock traded up $0.11 during trading hours on Monday, reaching $7.49. 30,423 shares of the stock were exchanged, compared to its average volume of 44,170. The business's fifty day moving average is $7.38 and its two-hundred day moving average is $7.76. The company has a debt-to-equity ratio of 1.06, a current ratio of 1.20 and a quick ratio of 1.20. Reservoir Media has a 12-month low of $6.56 and a 12-month high of $9.83. The firm has a market capitalization of $489.10 million, a P/E ratio of 68.10, a P/E/G ratio of 4.76 and a beta of 0.90.

Reservoir Media (NASDAQ:RSVR - Get Free Report) last released its earnings results on Wednesday, May 28th. The company reported $0.04 earnings per share for the quarter, hitting analysts' consensus estimates of $0.04. The firm had revenue of $41.42 million for the quarter, compared to analyst estimates 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 will post 0.11 EPS for the current fiscal year.

Institutional Investors Weigh In On Reservoir Media

Large investors have recently modified their holdings of the stock. First Pacific Advisors LP purchased a new position in Reservoir Media in the first quarter worth $50,000. BNP Paribas Financial Markets purchased a new position in shares of Reservoir Media in the fourth quarter valued at $51,000. Corton Capital Inc. purchased a new position in shares of Reservoir Media in the first quarter valued at $105,000. Wells Fargo & Company MN increased its position in shares of Reservoir Media by 22.4% in the fourth quarter. Wells Fargo & Company MN now owns 13,851 shares of the company's stock valued at $125,000 after buying an additional 2,531 shares in the last quarter. Finally, Meridian Wealth Advisors LLC increased its position in shares of Reservoir Media by 49.7% in the fourth quarter. Meridian Wealth Advisors LLC now owns 14,974 shares of the company's stock valued at $136,000 after buying an additional 4,974 shares in the last quarter. Hedge funds and other 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.