Reservoir Media (NASDAQ:RSVR) Downgraded by B. Riley Financial to “Hold”

B. Riley Financial cut 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.

Other analysts also recently issued reports about the stock. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Reservoir Media in a report on Monday, December 29th. Wall Street Zen upgraded shares of Reservoir Media from a “sell” rating to a “hold” rating in a report on Saturday, February 7th. Three equities research analysts have rated the stock with a Hold rating, Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $11.50.

Reservoir Media Stock Down 0.4%

Shares of NASDAQ:RSVR traded down $0.04 on Wednesday, reaching $9.92. The company had a trading volume of 5,450 shares, compared to its average volume of 87,265. The stock has a market capitalization of $650.75 million, a P/E ratio of 110.23 and a beta of 0.84. The stock has a 50-day moving average price of $7.72 and a 200 day moving average price of $7.65. Reservoir Media has a twelve month low of $6.56 and a twelve month high of $10.32. The company has a quick ratio of 1.19, a current ratio of 1.19 and a debt-to-equity ratio of 1.21.

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

Institutional Trading of Reservoir Media

A number of hedge funds have recently bought and sold shares of the stock. Boston Partners increased its holdings in shares of Reservoir Media by 2.5% during the 4th quarter. Boston Partners now owns 91,492 shares of the company’s stock worth $693,000 after purchasing an additional 2,248 shares during the period. Invesco Ltd. grew its position in Reservoir Media by 22.1% during the fourth quarter. Invesco Ltd. now owns 13,446 shares of the company’s stock worth $102,000 after buying an additional 2,433 shares in the last quarter. Barclays PLC grew its position in Reservoir Media by 2.4% during the fourth quarter. Barclays PLC now owns 132,513 shares of the company’s stock worth $1,003,000 after buying an additional 3,087 shares in the last quarter. Goldman Sachs Group Inc. increased its stake in Reservoir Media by 3.6% during the first quarter. Goldman Sachs Group Inc. now owns 90,003 shares of the company’s stock valued at $687,000 after acquiring an additional 3,110 shares during the period. Finally, BNP Paribas Financial Markets raised its holdings in Reservoir Media by 101.1% in the 2nd quarter. BNP Paribas Financial Markets now owns 7,003 shares of the company’s stock valued at $54,000 after acquiring an additional 3,521 shares in the last quarter. 44.38% of the stock is owned by 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.