Reservoir Media (NASDAQ:RSVR) Cut to “Sell” at Wall Street Zen

Reservoir Media (NASDAQ:RSVR) was downgraded by equities researchers at Wall Street Zen from a “hold” rating to a “sell” rating in a research note issued to investors on Sunday.

Separately, B. Riley restated a “buy” rating and set a $11.50 price objective (down from $12.50) on shares of Reservoir Media in a research report on Friday, June 6th.

Reservoir Media Price Performance

RSVR stock opened at $7.22 on Friday. Reservoir Media has a 12-month low of $6.56 and a 12-month high of $9.83. The stock has a market capitalization of $471.49 million, a price-to-earnings ratio of 65.64, a PEG ratio of 7.16 and a beta of 0.90. The firm’s 50-day moving average price is $7.32 and its two-hundred day moving average price is $7.87. The company has a current ratio of 1.20, a quick ratio of 1.20 and a debt-to-equity ratio of 1.03.

Reservoir Media (NASDAQ:RSVR) last announced its quarterly earnings results on Wednesday, May 28th. The company reported $0.04 earnings per share for the quarter, meeting the consensus estimate of $0.04. Reservoir Media had a net margin of 5.04% and a return on equity of 2.20%. The company had revenue of $41.42 million during the quarter, compared to the consensus estimate of $40.31 million. As a group, equities analysts predict that Reservoir Media will post 0.11 earnings per share for the current year.

Institutional Trading of Reservoir Media

A number of large investors have recently made changes to their positions in RSVR. BNP Paribas Financial Markets purchased a new position in shares of Reservoir Media in the 4th quarter valued at approximately $51,000. First Pacific Advisors LP acquired a new position in Reservoir Media in the 1st quarter valued at about $50,000. Corton Capital Inc. purchased a new stake in Reservoir Media during the 1st quarter worth approximately $105,000. Wells Fargo & Company MN increased its position in shares of Reservoir Media by 22.4% in the 4th quarter. Wells Fargo & Company MN now owns 13,851 shares of the company’s stock valued at $125,000 after purchasing an additional 2,531 shares during the last quarter. Finally, Meridian Wealth Advisors LLC grew its position in shares of Reservoir Media by 49.7% in the 4th quarter. Meridian Wealth Advisors LLC now owns 14,974 shares of the company’s stock valued at $136,000 after buying an additional 4,974 shares during the last quarter. 44.38% of the stock is owned by hedge funds and other institutional investors.

About Reservoir Media

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