$30.22 Million in Sales Expected for Reservoir Media, Inc. (NASDAQ:RSVR) This Quarter

Equities research analysts predict that Reservoir Media, Inc. (NASDAQ:RSVRGet Rating) will announce $30.22 million in sales for the current fiscal quarter, according to Zacks Investment Research. Two analysts have provided estimates for Reservoir Media’s earnings. The highest sales estimate is $31.25 million and the lowest is $29.19 million. The firm is scheduled to report its next earnings results on Monday, January 1st.

On average, analysts expect that Reservoir Media will report full year sales of $104.34 million for the current fiscal year, with estimates ranging from $103.47 million to $105.20 million. For the next year, analysts anticipate that the firm will post sales of $120.96 million, with estimates ranging from $119.23 million to $122.68 million. Zacks Investment Research’s sales averages are an average based on a survey of analysts that follow Reservoir Media.

Reservoir Media (NASDAQ:RSVRGet Rating) last announced its quarterly earnings data on Tuesday, February 8th. The company reported $0.01 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.01. The firm had revenue of $27.13 million during the quarter, compared to analyst estimates of $21.15 million.

In other Reservoir Media news, Director Adam Rothstein acquired 41,345 shares of the stock in a transaction on Friday, February 11th. The shares were bought at an average cost of $6.57 per share, with a total value of $271,636.65. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Golnar Khosrowshahi bought 10,709 shares of Reservoir Media stock in a transaction dated Tuesday, February 15th. The stock was purchased at an average price of $7.41 per share, with a total value of $79,353.69. The disclosure for this purchase can be found here. Insiders have acquired a total of 491,197 shares of company stock worth $3,449,927 over the last three months.

Several hedge funds have recently added to or reduced their stakes in RSVR. Citigroup Inc. acquired a new stake in shares of Reservoir Media in the third quarter valued at about $28,000. Penserra Capital Management LLC acquired a new stake in shares of Reservoir Media in the fourth quarter valued at about $27,000. Wolverine Asset Management LLC acquired a new stake in shares of Reservoir Media in the third quarter valued at about $55,000. Morgan Stanley acquired a new stake in shares of Reservoir Media in the third quarter valued at about $62,000. Finally, Cohanzick Management LLC acquired a new stake in shares of Reservoir Media in the third quarter valued at about $91,000. Institutional investors own 39.51% of the company’s stock.

NASDAQ RSVR opened at $8.69 on Friday. The company has a quick ratio of 1.10, a current ratio of 1.21 and a debt-to-equity ratio of 0.66. The firm’s fifty day moving average price is $8.82 and its 200 day moving average price is $8.08. Reservoir Media has a 12 month low of $5.33 and a 12 month high of $10.84.

Reservoir Media Company Profile (Get Rating)

Reservoir Media Management, Inc operates as a music publishing company. It operates in 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 discovery and development of recording artists; and marketing, distribution, sale, and licensing of the music catalogs.

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