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

Reservoir Media (NASDAQ:RSVR - Get Free Report) was upgraded by analysts at Wall Street Zen from a "sell" rating to a "hold" rating in a research report issued on Monday.

Separately, B. Riley reiterated a "buy" rating and set a $11.50 price target (down previously from $12.50) on shares of Reservoir Media in a research report on Friday, June 6th.

Reservoir Media Stock Up 0.3%

RSVR stock opened at $7.49 on Monday. Reservoir Media has a one year low of $6.56 and a one year high of $9.83. The company has a debt-to-equity ratio of 1.06, a quick ratio of 1.20 and a current ratio of 1.20. The firm's fifty day moving average is $7.34 and its 200 day moving average is $7.79. The firm has a market cap of $489.10 million, a PE ratio of 68.10, a P/E/G ratio of 4.83 and a beta of 0.90.

Reservoir Media (NASDAQ:RSVR - Get Free Report) last issued its quarterly earnings data on Wednesday, May 28th. The company reported $0.04 earnings per share for the quarter, hitting analysts' consensus estimates of $0.04. Reservoir Media had a net margin of 4.88% and a return on equity of 2.15%. The business had revenue of $41.42 million during the quarter, compared to the consensus estimate of $40.31 million. On average, research analysts forecast that Reservoir Media will post 0.11 EPS for the current year.

Institutional Investors Weigh In On Reservoir Media

A number of institutional investors have recently added to or reduced their stakes in RSVR. Wells Fargo & Company MN lifted its holdings in Reservoir Media by 22.4% during the fourth quarter. Wells Fargo & Company MN now owns 13,851 shares of the company's stock valued at $125,000 after purchasing an additional 2,531 shares in the last quarter. Goldman Sachs Group Inc. raised its position in shares of Reservoir Media by 3.6% during the 1st quarter. Goldman Sachs Group Inc. now owns 90,003 shares of the company's stock worth $687,000 after purchasing an additional 3,110 shares during the last quarter. Inspire Investing LLC raised its position in shares of Reservoir Media by 7.5% during the 1st quarter. Inspire Investing LLC now owns 46,838 shares of the company's stock worth $357,000 after purchasing an additional 3,281 shares during the last quarter. Hurley Capital LLC lifted its stake in Reservoir Media by 3.4% in the 1st quarter. Hurley Capital LLC now owns 144,104 shares of the company's stock valued at $1,100,000 after buying an additional 4,741 shares in the last quarter. Finally, Meridian Wealth Advisors LLC lifted its stake in Reservoir Media by 49.7% in the 4th 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. Institutional investors and hedge funds own 44.38% of the company's stock.

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.

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