Reservoir Media (NASDAQ:RSVR) Hits New 1-Year High – What’s Next?

Reservoir Media, Inc. (NASDAQ:RSVR)’s share price reached a new 52-week high during mid-day trading on Wednesday . The stock traded as high as $9.19 and last traded at $9.00, with a volume of 115042 shares traded. The stock had previously closed at $9.11.

Analysts Set New Price Targets

Several research analysts recently weighed in on the stock. Wall Street Zen raised shares of Reservoir Media from a “sell” rating to a “hold” rating in a research note on Saturday, February 7th. Weiss Ratings reiterated a “hold (c)” rating on shares of Reservoir Media in a report on Monday, December 29th. One investment analyst has rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $11.50.

Reservoir Media Price Performance

The company has a current ratio of 1.19, a quick ratio of 1.19 and a debt-to-equity ratio of 1.21. The firm has a market cap of $653.38 million, a P/E ratio of 110.68 and a beta of 0.84. The company has a fifty day moving average price of $7.72 and a two-hundred day moving average price of $7.65.

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

Institutional Investors Weigh In On Reservoir Media

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Goldman Sachs Group Inc. boosted its stake in Reservoir Media by 3.6% in 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 period. Jane Street Group LLC lifted its holdings in shares of Reservoir Media by 56.7% in the first quarter. Jane Street Group LLC now owns 49,649 shares of the company’s stock valued at $379,000 after purchasing an additional 17,963 shares in the last quarter. Boston Partners boosted its position in shares of Reservoir Media by 4.7% during the second quarter. Boston Partners now owns 100,314 shares of the company’s stock worth $769,000 after buying an additional 4,464 shares during the period. Geode Capital Management LLC boosted its position in shares of Reservoir Media by 2.8% during the second quarter. Geode Capital Management LLC now owns 641,418 shares of the company’s stock worth $4,921,000 after buying an additional 17,384 shares during the period. Finally, Police & Firemen s Retirement System of New Jersey bought a new position in shares of Reservoir Media during the second quarter worth about $34,000. 44.38% of the stock is currently owned by institutional investors and hedge funds.

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.