Short Interest in Reservoir Media, Inc. (NASDAQ:RSVR) Decreases By 13.1%

Reservoir Media, Inc. (NASDAQ:RSVR) saw a significant decrease in short interest during the month of March. As of March 13th, there was short interest totaling 1,129,943 shares, a decrease of 13.1% from the February 26th total of 1,301,019 shares. Approximately 2.4% of the shares of the company are short sold. Based on an average daily volume of 166,607 shares, the days-to-cover ratio is presently 6.8 days.

Institutional Trading of Reservoir Media

Several large investors have recently added to or reduced their stakes in RSVR. Irenic Capital Management LP boosted its position in Reservoir Media by 3.2% during the 3rd quarter. Irenic Capital Management LP now owns 5,669,671 shares of the company’s stock worth $46,151,000 after acquiring an additional 177,361 shares during the period. Tower Research Capital LLC TRC increased its holdings in shares of 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 purchasing an additional 5,918 shares during the period. BNP Paribas Financial Markets increased its holdings in shares of Reservoir Media by 101.1% during the second quarter. BNP Paribas Financial Markets now owns 7,003 shares of the company’s stock valued at $54,000 after purchasing an additional 3,521 shares during the period. Hsbc Holdings PLC raised its stake in shares of Reservoir Media by 3.6% during the fourth quarter. Hsbc Holdings PLC now owns 58,507 shares of the company’s stock valued at $440,000 after purchasing an additional 2,042 shares in the last quarter. Finally, 683 Capital Management LLC acquired a new stake in Reservoir Media in the fourth quarter worth about $1,188,000. 44.38% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

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

Reservoir Media Trading Up 2.4%

Reservoir Media stock opened at $9.50 on Tuesday. Reservoir Media has a 52-week low of $6.56 and a 52-week high of $10.32. The company has a quick ratio of 1.19, a current ratio of 1.19 and a debt-to-equity ratio of 1.21. The firm has a market capitalization of $623.20 million, a price-to-earnings ratio of 105.57 and a beta of 0.84. The firm has a 50-day moving average price of $8.44 and a two-hundred day moving average price of $7.86.

Reservoir Media (NASDAQ:RSVR) last announced its quarterly earnings results on Wednesday, February 4th. The company reported $0.03 EPS for the quarter, beating the consensus estimate of $0.02 by $0.01. The company had revenue of $45.57 million for the quarter, compared to analyst estimates of $42.63 million. Reservoir Media had a net margin of 3.87% and a return on equity of 1.77%. Sell-side analysts expect that Reservoir Media will post 0.11 earnings per share for the current 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.