Analysts Expect Reservoir Media, Inc. (NASDAQ:RSVR) Will Announce Quarterly Sales of $30.22 Million

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

According to Zacks, analysts expect that Reservoir Media will report full year sales of $104.34 million for the current year, with estimates ranging from $103.47 million to $105.20 million. For the next fiscal year, analysts expect that the company will report sales of $120.96 million, with estimates ranging from $119.23 million to $122.68 million. Zacks’ sales averages are a mean average based on a survey of sell-side research firms that that provide coverage for Reservoir Media.

Reservoir Media stock opened at $7.14 on Friday. Reservoir Media has a fifty-two week low of $5.33 and a fifty-two week high of $10.84. The firm’s fifty day moving average price is $8.64 and its 200-day moving average price is $7.88. The company has a quick ratio of 1.10, a current ratio of 1.21 and a debt-to-equity ratio of 0.66.

In other news, major shareholder Richmond Hill Capital Partners bought 7,615 shares of Reservoir Media stock in a transaction that occurred on Thursday, March 3rd. The shares were acquired at an average price of $7.42 per share, with a total value of $56,503.30. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, major shareholder Essex Equity Joint Investment bought 92,914 shares of Reservoir Media stock in a transaction that occurred on Tuesday, March 8th. The stock was purchased at an average cost of $7.19 per share, for a total transaction of $668,051.66. The disclosure for this purchase can be found here. In the last ninety days, insiders bought 260,655 shares of company stock worth $1,882,301.

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Richmond Hill Investments LLC boosted its position in Reservoir Media by 3.2% during the first quarter. Richmond Hill Investments LLC now owns 14,034,343 shares of the company’s stock valued at $137,958,000 after buying an additional 441,550 shares during the period. Caledonia Private Investments Pty Ltd boosted its position in Reservoir Media by 4.2% during the fourth quarter. Caledonia Private Investments Pty Ltd now owns 3,863,777 shares of the company’s stock valued at $30,562,000 after buying an additional 156,353 shares during the period. ArrowMark Colorado Holdings LLC purchased a new stake in shares of Reservoir Media during the third quarter worth about $9,620,000. Vanguard Group Inc. boosted its holdings in shares of Reservoir Media by 0.3% during the first quarter. Vanguard Group Inc. now owns 881,761 shares of the company’s stock worth $8,667,000 after purchasing an additional 2,216 shares during the period. Finally, Oaktree Capital Management LP boosted its holdings in shares of Reservoir Media by 81.1% during the fourth quarter. Oaktree Capital Management LP now owns 849,000 shares of the company’s stock worth $6,715,000 after purchasing an additional 380,300 shares during the period. Institutional investors and hedge funds own 39.51% of the company’s stock.

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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