Irenic Capital Management LP Has $45.32 Million Position in Reservoir Media, Inc. $RSVR

Irenic Capital Management LP increased its stake in shares of Reservoir Media, Inc. (NASDAQ:RSVR) by 5.6% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 5,986,176 shares of the company’s stock after buying an additional 316,505 shares during the period. Reservoir Media accounts for about 3.0% of Irenic Capital Management LP’s portfolio, making the stock its 6th largest holding. Irenic Capital Management LP owned 9.13% of Reservoir Media worth $45,315,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also modified their holdings of RSVR. 683 Capital Management LLC bought a new stake in shares of Reservoir Media during the 4th quarter worth about $1,188,000. Russell Investments Group Ltd. boosted its holdings in shares of Reservoir Media by 19.9% during the 4th quarter. Russell Investments Group Ltd. now owns 576,776 shares of the company’s stock worth $4,366,000 after buying an additional 95,917 shares during the period. Dimensional Fund Advisors LP boosted its stake in Reservoir Media by 6.3% in the 4th quarter. Dimensional Fund Advisors LP now owns 1,072,817 shares of the company’s stock valued at $8,121,000 after purchasing an additional 63,127 shares during the period. Goldman Sachs Group Inc. grew its holdings in Reservoir Media by 19.7% in the 4th quarter. Goldman Sachs Group Inc. now owns 137,946 shares of the company’s stock valued at $1,044,000 after buying an additional 22,674 shares in the last quarter. Finally, Hsbc Holdings PLC grew its holdings in Reservoir Media by 59.0% in the 2nd quarter. Hsbc Holdings PLC now owns 54,205 shares of the company’s stock valued at $409,000 after buying an additional 20,116 shares in the last quarter. Institutional investors own 44.38% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have commented on the company. Weiss Ratings raised Reservoir Media from a “hold (c)” rating to a “hold (c+)” rating in a report on Tuesday, June 2nd. B. Riley Financial lowered Reservoir Media from a “strong-buy” rating to a “hold” rating in a report on Wednesday, March 4th. Three research analysts have rated the stock with a Hold rating, Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold”.

Reservoir Media Stock Performance

Shares of NASDAQ:RSVR opened at $10.20 on Thursday. The company’s 50 day moving average price is $10.13 and its two-hundred day moving average price is $8.83. Reservoir Media, Inc. has a 12-month low of $7.07 and a 12-month high of $13.39. The firm has a market cap of $669.75 million, a PE ratio of 85.01 and a beta of 0.73. The company has a quick ratio of 1.41, a current ratio of 1.41 and a debt-to-equity ratio of 1.20.

Reservoir Media (NASDAQ:RSVR) last announced its earnings results on Thursday, May 28th. The company reported $0.07 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.05 by $0.02. Reservoir Media had a net margin of 4.73% and a return on equity of 2.22%. The firm had revenue of $47.50 million for the quarter, compared to analyst estimates of $44.45 million. Equities research analysts predict that Reservoir Media, Inc. will post 0.13 earnings per share for the current year.

Reservoir Media 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.