156,954 Shares in Reservoir Media, Inc. $RSVR Purchased by 683 Capital Management LLC

683 Capital Management LLC acquired a new position in Reservoir Media, Inc. (NASDAQ:RSVR) in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor acquired 156,954 shares of the company’s stock, valued at approximately $1,188,000.

Other hedge funds have also recently bought and sold shares of the company. BNP Paribas Financial Markets lifted its stake in Reservoir Media by 101.1% in the 2nd quarter. BNP Paribas Financial Markets now owns 7,003 shares of the company’s stock worth $54,000 after acquiring 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% during the 2nd quarter. Tower Research Capital LLC TRC now owns 7,504 shares of the company’s stock worth $58,000 after purchasing an additional 5,918 shares in the last quarter. Wells Fargo & Company MN raised its stake in shares of Reservoir Media by 48.3% during the 4th quarter. Wells Fargo & Company MN now owns 22,780 shares of the company’s stock worth $172,000 after purchasing an additional 7,421 shares in the last quarter. Gabelli Funds LLC raised its stake in shares of Reservoir Media by 19.6% during the 3rd quarter. Gabelli Funds LLC now owns 27,500 shares of the company’s stock worth $224,000 after purchasing an additional 4,500 shares in the last quarter. Finally, Bank of America Corp DE raised its stake in shares of Reservoir Media by 31.4% during the 2nd quarter. Bank of America Corp DE now owns 42,356 shares of the company’s stock worth $325,000 after purchasing an additional 10,120 shares in the last quarter. 44.38% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

RSVR has been the subject of a number of recent research reports. Weiss Ratings raised Reservoir Media from a “hold (c)” rating to a “hold (c+)” rating in a research note on Tuesday, June 2nd. B. Riley Financial downgraded Reservoir Media from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, March 4th. Three equities research analysts have rated the stock with a Hold rating, According to MarketBeat, the stock currently has an average rating of “Hold”.

Reservoir Media Stock Performance

Shares of NASDAQ RSVR opened at $10.20 on Thursday. The company has a debt-to-equity ratio of 1.20, a quick ratio of 1.41 and a current ratio of 1.41. The firm has a market cap of $669.75 million, a price-to-earnings ratio of 85.01 and a beta of 0.73. The business’s 50-day simple moving average is $10.13 and its 200-day simple moving average is $8.83. Reservoir Media, Inc. has a 52 week low of $7.07 and a 52 week high of $13.39.

Reservoir Media (NASDAQ:RSVR) last issued its quarterly earnings data on Thursday, May 28th. The company reported $0.07 EPS for the quarter, beating analysts’ consensus estimates of $0.05 by $0.02. The business had revenue of $47.50 million for the quarter, compared to analyst estimates of $44.45 million. Reservoir Media had a return on equity of 2.22% and a net margin of 4.73%. As a group, equities research analysts expect that Reservoir Media, Inc. will post 0.13 earnings per share for the current fiscal year.

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.