Reservoir Media, Inc. (NASDAQ:RSVR) Short Interest Down 13.1% in March

Reservoir Media, Inc. (NASDAQ:RSVR) was the recipient of a large drop in short interest in March. As of March 13th, there was short interest totaling 1,129,943 shares, a drop of 13.1% from the February 26th total of 1,301,019 shares. Currently, 2.4% of the company’s shares are short sold. Based on an average daily volume of 166,607 shares, the days-to-cover ratio is currently 6.8 days.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in RSVR. Irenic Capital Management LP boosted its holdings in Reservoir Media by 3.2% in the third quarter. Irenic Capital Management LP now owns 5,669,671 shares of the company’s stock worth $46,151,000 after purchasing an additional 177,361 shares in the last quarter. Invesco Ltd. raised its holdings in Reservoir Media by 22.1% during the fourth quarter. Invesco Ltd. now owns 13,446 shares of the company’s stock valued at $102,000 after buying an additional 2,433 shares in the last quarter. Tower Research Capital LLC TRC raised its holdings in Reservoir Media by 373.1% during the second quarter. Tower Research Capital LLC TRC now owns 7,504 shares of the company’s stock valued at $58,000 after buying an additional 5,918 shares in the last quarter. BNP Paribas Financial Markets lifted its position in shares of Reservoir Media by 101.1% in the second quarter. BNP Paribas Financial Markets now owns 7,003 shares of the company’s stock worth $54,000 after buying an additional 3,521 shares during the last quarter. Finally, Hsbc Holdings PLC lifted its position in shares of Reservoir Media by 3.6% in the fourth quarter. Hsbc Holdings PLC now owns 58,507 shares of the company’s stock worth $440,000 after buying an additional 2,042 shares during the last quarter. 44.38% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms have commented on RSVR. B. Riley Financial lowered shares of Reservoir Media from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, March 4th. Weiss Ratings restated a “hold (c)” rating on shares of Reservoir Media in a report on Friday. Finally, Wall Street Zen upgraded shares of Reservoir Media from a “sell” rating to a “hold” rating in a research report on Saturday, February 7th. Three investment analysts have rated the stock with a Hold rating, Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $11.50.

Reservoir Media Stock Up 3.1%

NASDAQ:RSVR opened at $9.79 on Wednesday. The business’s fifty day moving average price is $8.49 and its 200 day moving average price is $7.87. The firm has a market capitalization of $642.22 million, a price-to-earnings ratio of 108.79 and a beta of 0.84. 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 has a 1-year low of $6.56 and a 1-year high of $10.32.

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

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.