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

Wall Street Zen upgraded shares of Reservoir Media (NASDAQ:RSVR) from a sell rating to a hold rating in a report released on Saturday.

Separately, Weiss Ratings reissued a “hold (c)” rating on shares of Reservoir Media in a research note on Monday, December 29th. One equities research analyst has rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $11.50.

Reservoir Media Stock Performance

Shares of NASDAQ RSVR opened at $7.59 on Friday. The firm has a market capitalization of $497.90 million, a price-to-earnings ratio of 84.34 and a beta of 0.88. Reservoir Media has a one year low of $6.56 and a one year high of $8.46. The business has a fifty day simple moving average of $7.47 and a 200 day simple moving average of $7.60. The company has a current ratio of 1.19, a quick ratio of 1.19 and a debt-to-equity ratio of 1.21.

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 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 for the quarter, compared to the consensus estimate of $42.63 million. Sell-side analysts expect that Reservoir Media will post 0.11 EPS for the current year.

Institutional Investors Weigh In On Reservoir Media

Hedge funds have recently made changes to their positions in the company. Police & Firemen s Retirement System of New Jersey bought a new position in Reservoir Media during the 2nd quarter valued at about $34,000. 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 worth $54,000 after buying an additional 3,521 shares in the last quarter. Tower Research Capital LLC TRC raised its stake in shares of Reservoir Media by 373.1% in the second quarter. Tower Research Capital LLC TRC now owns 7,504 shares of the company’s stock valued at $58,000 after acquiring an additional 5,918 shares during the last quarter. Gabelli Funds LLC raised its stake in shares of Reservoir Media by 19.6% in the third quarter. Gabelli Funds LLC now owns 27,500 shares of the company’s stock valued at $224,000 after acquiring an additional 4,500 shares during the last quarter. Finally, Bank of America Corp DE boosted its holdings in shares of Reservoir Media by 31.4% in the 2nd quarter. Bank of America Corp DE now owns 42,356 shares of the company’s stock worth $325,000 after acquiring an additional 10,120 shares in the last quarter. Institutional investors and hedge funds own 44.38% of the company’s stock.

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.