Reservoir Media (NASDAQ:RSVR) Shares Down 1.1%

Reservoir Media, Inc. (NASDAQ:RSVR) shares were down 1.1% during mid-day trading on Tuesday . The stock traded as low as $7.74 and last traded at $7.77. Approximately 25,358 shares changed hands during trading, a decline of 58% from the average daily volume of 60,894 shares. The stock had previously closed at $7.86.

Wall Street Analysts Forecast Growth

Separately, B. Riley upped their target price on Reservoir Media from $11.00 to $11.50 and gave the company a “buy” rating in a report on Friday, May 31st.

Reservoir Media Price Performance

The company has a current ratio of 1.28, a quick ratio of 1.16 and a debt-to-equity ratio of 0.91. The business’s 50 day moving average price is $7.64 and its two-hundred day moving average price is $7.76. The stock has a market cap of $513.48 million, a P/E ratio of -789,000.00, a price-to-earnings-growth ratio of 8.42 and a beta of 0.90.

Reservoir Media (NASDAQ:RSVR) last posted its quarterly earnings data on Wednesday, July 31st. The company reported ($0.01) earnings per share for the quarter. Reservoir Media had a net margin of 0.01% and a return on equity of 0.96%. The firm had revenue of $34.32 million for the quarter, compared to the consensus estimate of $34.42 million. As a group, sell-side analysts expect that Reservoir Media, Inc. will post 0.09 earnings per share for the current fiscal year.

Institutional Trading of Reservoir Media

A number of hedge funds have recently modified their holdings of the business. Boston Partners increased its stake in shares of Reservoir Media by 10.7% in the 1st quarter. Boston Partners now owns 59,067 shares of the company’s stock worth $468,000 after acquiring an additional 5,707 shares in the last quarter. The Manufacturers Life Insurance Company bought a new position in shares of Reservoir Media during the second quarter valued at approximately $81,000. GSA Capital Partners LLP lifted its holdings in shares of Reservoir Media by 31.1% during the first quarter. GSA Capital Partners LLP now owns 54,746 shares of the company’s stock valued at $434,000 after purchasing an additional 12,989 shares during the last quarter. AWM Investment Company Inc. boosted its position in shares of Reservoir Media by 2.1% in the 1st quarter. AWM Investment Company Inc. now owns 716,662 shares of the company’s stock worth $5,683,000 after purchasing an additional 15,000 shares in the last quarter. Finally, Vanguard Group Inc. grew its stake in shares of Reservoir Media by 1.7% in the 1st quarter. Vanguard Group Inc. now owns 1,090,964 shares of the company’s stock worth $8,651,000 after buying an additional 17,830 shares during the last quarter. Institutional investors own 44.38% of the company’s stock.

Reservoir Media Company Profile

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.