Reservoir Media (NASDAQ:RSVR) Hits New 52-Week High – What’s Next?

Shares of Reservoir Media, Inc. (NASDAQ:RSVR) hit a new 52-week high on Thursday . The stock traded as high as $8.75 and last traded at $8.4250, with a volume of 104762 shares changing hands. The stock had previously closed at $7.58.

Analyst Upgrades and Downgrades

Several research firms have weighed in on RSVR. Wall Street Zen upgraded shares of Reservoir Media from a “sell” rating to a “hold” rating in a report on Saturday, February 7th. Weiss Ratings reiterated a “hold (c)” rating on shares of Reservoir Media in a report on Monday, December 29th. One investment analyst has rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $11.50.

Reservoir Media Price Performance

The stock has a market cap of $577.61 million, a price-to-earnings ratio of 97.50 and a beta of 0.88. The company has a current ratio of 1.19, a quick ratio of 1.19 and a debt-to-equity ratio of 1.21. The company’s fifty day moving average is $7.51 and its two-hundred day moving average is $7.59.

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

Hedge Funds Weigh In On Reservoir Media

Institutional investors have recently bought and sold shares of the company. Police & Firemen s Retirement System of New Jersey purchased a new position in shares of Reservoir Media in the second quarter valued at approximately $34,000. BNP Paribas Financial Markets lifted its holdings in Reservoir Media by 101.1% during the 2nd 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 boosted its position in Reservoir Media by 373.1% in the 2nd quarter. Tower Research Capital LLC TRC now owns 7,504 shares of the company’s stock valued at $58,000 after buying an additional 5,918 shares during the period. Invesco Ltd. boosted its position in Reservoir Media by 22.1% in the 4th quarter. Invesco Ltd. now owns 13,446 shares of the company’s stock valued at $102,000 after buying an additional 2,433 shares during the period. Finally, Wells Fargo & Company MN boosted its position in Reservoir Media by 48.3% in the 4th quarter. Wells Fargo & Company MN now owns 22,780 shares of the company’s stock valued at $172,000 after buying an additional 7,421 shares during the period. 44.38% of the stock is owned by institutional investors and hedge funds.

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.