Reservoir Media (NASDAQ:RSVR) Sees Unusually-High Trading Volume – Here’s What Happened

Shares of Reservoir Media, Inc. (NASDAQ:RSVR) saw unusually-high trading volume on Friday . Approximately 148,332 shares were traded during mid-day trading, an increase of 58% from the previous session’s volume of 94,103 shares.The stock last traded at $9.2710 and had previously closed at $9.43.

Analyst Ratings Changes

A number of brokerages recently commented on RSVR. Weiss Ratings reissued a “hold (c)” rating on shares of Reservoir Media in a research note on Monday, December 29th. Wall Street Zen raised Reservoir Media from a “sell” rating to a “hold” rating in a report on Saturday, February 7th. Finally, B. Riley Financial downgraded Reservoir Media from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, March 4th. Three research analysts have rated the stock with a Hold rating, Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $11.50.

Reservoir Media Stock Down 0.6%

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 company has a 50 day simple moving average of $8.22 and a two-hundred day simple moving average of $7.80. The company has a market capitalization of $614.67 million, a P/E ratio of 104.12 and a beta of 0.84.

Reservoir Media (NASDAQ:RSVR) last posted its quarterly earnings data on Wednesday, February 4th. The company reported $0.03 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.02 by $0.01. The business had revenue of $45.57 million during the quarter, compared to analyst estimates of $42.63 million. Reservoir Media had a return on equity of 1.77% and a net margin of 3.87%. As a group, equities analysts predict that Reservoir Media, Inc. will post 0.11 EPS for the current year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of RSVR. Irenic Capital Management LP increased its position in Reservoir Media by 5.6% during the fourth quarter. Irenic Capital Management LP now owns 5,986,176 shares of the company’s stock valued at $45,315,000 after acquiring an additional 316,505 shares during the last quarter. Dimensional Fund Advisors LP lifted its holdings in shares of Reservoir Media by 6.3% in the 4th quarter. Dimensional Fund Advisors LP now owns 1,072,817 shares of the company’s stock worth $8,121,000 after acquiring an additional 63,127 shares during the last quarter. AWM Investment Company Inc. boosted its stake in shares of Reservoir Media by 6.3% during the 2nd quarter. AWM Investment Company Inc. now owns 847,558 shares of the company’s stock worth $6,501,000 after purchasing an additional 50,000 shares during the period. Geode Capital Management LLC grew its holdings in Reservoir Media by 0.6% during the 4th quarter. Geode Capital Management LLC now owns 644,839 shares of the company’s stock valued at $4,883,000 after purchasing an additional 3,759 shares during the last quarter. Finally, Russell Investments Group Ltd. grew its holdings in Reservoir Media by 19.9% during the 4th quarter. Russell Investments Group Ltd. now owns 576,776 shares of the company’s stock valued at $4,366,000 after purchasing an additional 95,917 shares during the last quarter. 44.38% of the stock is owned by hedge funds and other institutional investors.

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.