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

Reservoir Media (NASDAQ:RSVR) was upgraded by research analysts at Wall Street Zen from a “sell” rating to a “hold” rating in a research note issued on Saturday.

Separately, Weiss Ratings reaffirmed a “hold (c)” rating on shares of Reservoir Media in a research note on Monday, December 29th. One research analyst has rated the stock with a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $11.50.

Reservoir Media Stock Up 1.1%

Reservoir Media stock opened at $7.54 on Friday. Reservoir Media has a 52 week low of $6.56 and a 52 week high of $8.46. The stock has a market cap of $494.62 million, a price-to-earnings ratio of 83.79 and a beta of 0.88. The company’s 50-day moving average price is $7.47 and its two-hundred day moving average price is $7.60. The company has a current ratio of 1.19, a quick ratio of 1.19 and a debt-to-equity ratio of 1.21.

Reservoir Media (NASDAQ:RSVR) last posted its quarterly earnings data on Wednesday, February 4th. The company reported $0.03 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.02 by $0.01. Reservoir Media had a net margin of 3.87% and a return on equity of 1.77%. The business had revenue of $45.57 million during the quarter, compared to analysts’ expectations of $42.63 million. On average, analysts expect that Reservoir Media will post 0.11 EPS for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. First Pacific Advisors LP grew its holdings in shares of Reservoir Media by 4,906.3% in the 2nd quarter. First Pacific Advisors LP now owns 329,066 shares of the company’s stock worth $2,524,000 after acquiring an additional 322,493 shares during the last quarter. Inspire Investing LLC lifted its holdings in shares of Reservoir Media by 10.2% during the second quarter. Inspire Investing LLC now owns 51,610 shares of the company’s stock valued at $396,000 after purchasing an additional 4,772 shares during the last quarter. Irenic Capital Management LP boosted its position in shares of Reservoir Media by 3.2% in the 3rd quarter. Irenic Capital Management LP now owns 5,669,671 shares of the company’s stock valued at $46,151,000 after purchasing an additional 177,361 shares during the period. Hurley Capital LLC increased its stake in Reservoir Media by 8.9% in the 3rd quarter. Hurley Capital LLC now owns 156,893 shares of the company’s stock worth $1,277,000 after purchasing an additional 12,789 shares in the last quarter. Finally, Exchange Traded Concepts LLC purchased a new position in Reservoir Media in the 3rd quarter worth about $385,000. Institutional investors own 44.38% of the company’s stock.

About Reservoir Media

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.