Reservoir Media (NASDAQ:RSVR) Upgraded to Hold at Wall Street Zen

Reservoir Media (NASDAQ:RSVR) was upgraded by investment analysts at Wall Street Zen from a “sell” rating to a “hold” rating in a research report issued to clients and investors on Saturday.

Separately, Weiss Ratings reaffirmed a “hold (c)” rating on shares of Reservoir Media in a research report on Monday, December 29th. One equities research analyst has rated the stock with a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $11.50.

Reservoir Media Price Performance

RSVR stock opened at $7.54 on Friday. The company has a debt-to-equity ratio of 1.21, a quick ratio of 1.35 and a current ratio of 1.19. The firm has a 50 day moving average price of $7.47 and a 200-day moving average price of $7.61. Reservoir Media has a 52-week low of $6.56 and a 52-week high of $8.46. The firm has a market capitalization of $494.62 million, a price-to-earnings ratio of 83.79 and a beta of 0.88.

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

Institutional Trading of Reservoir Media

Large investors have recently made changes to their positions in the stock. Goldman Sachs Group Inc. lifted its position in Reservoir Media by 3.6% during the first quarter. Goldman Sachs Group Inc. now owns 90,003 shares of the company’s stock valued at $687,000 after purchasing an additional 3,110 shares during the period. Jane Street Group LLC raised its stake in Reservoir Media by 56.7% during the 1st quarter. Jane Street Group LLC now owns 49,649 shares of the company’s stock valued at $379,000 after buying an additional 17,963 shares during the last quarter. Inspire Investing LLC lifted its holdings in shares of Reservoir Media by 10.2% during the 2nd quarter. Inspire Investing LLC now owns 51,610 shares of the company’s stock valued at $396,000 after buying an additional 4,772 shares during the period. First Pacific Advisors LP boosted its stake in shares of Reservoir Media by 4,906.3% in the 2nd quarter. First Pacific Advisors LP now owns 329,066 shares of the company’s stock worth $2,524,000 after buying an additional 322,493 shares during the last quarter. Finally, Boston Partners boosted its stake in shares of Reservoir Media by 4.7% in the 2nd 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 last quarter. 44.38% of the stock is currently owned by institutional investors.

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.