Reservoir Media (NASDAQ:RSVR) Cut to “Hold” at B. Riley Financial

B. Riley Financial downgraded shares of Reservoir Media (NASDAQ:RSVR) from a strong-buy rating to a hold rating in a research report sent to investors on Wednesday morning,Zacks.com reports.

RSVR has been the topic of several other research reports. Wall Street Zen raised shares of Reservoir Media from a “sell” rating to a “hold” rating in a report on Saturday, February 7th. Weiss Ratings reissued a “hold (c)” rating on shares of Reservoir Media in a research note on Monday, December 29th. Three analysts have rated the stock with a Hold rating, Based on data from MarketBeat, Reservoir Media currently has a consensus rating of “Hold” and a consensus target price of $11.50.

Reservoir Media Trading Up 0.4%

Shares of RSVR opened at $10.00 on Wednesday. Reservoir Media has a fifty-two week low of $6.56 and a fifty-two week high of $10.32. The business has a 50-day moving average of $7.77 and a 200 day moving average of $7.67. The firm has a market cap of $656.00 million, a P/E ratio of 111.12 and a beta of 0.84. The company has a debt-to-equity ratio of 1.21, a quick ratio of 1.19 and a current ratio of 1.19.

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

Institutional Trading of Reservoir Media

Several hedge funds and other institutional investors have recently bought and sold shares of the company. 683 Capital Management LLC bought a new stake in shares of Reservoir Media in the 4th quarter worth approximately $1,188,000. JPMorgan Chase & Co. grew its holdings in shares of Reservoir Media by 21.7% during the 3rd quarter. JPMorgan Chase & Co. now owns 47,377 shares of the company’s stock valued at $386,000 after purchasing an additional 8,443 shares during the last quarter. Irenic Capital Management LP raised its position in Reservoir Media by 3.2% in the 3rd quarter. Irenic Capital Management LP now owns 5,669,671 shares of the company’s stock worth $46,151,000 after purchasing an additional 177,361 shares during the period. Hurley Capital LLC lifted its stake in Reservoir Media by 8.9% in the third quarter. Hurley Capital LLC now owns 156,893 shares of the company’s stock worth $1,277,000 after purchasing an additional 12,789 shares during the last quarter. Finally, Exchange Traded Concepts LLC bought a new stake in Reservoir Media in the third quarter worth $385,000. Hedge funds and other institutional investors own 44.38% of the company’s stock.

Reservoir Media Company Profile

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.