Reservoir Media (NASDAQ:RSVR) Shares Gap Down – Here’s Why

Reservoir Media, Inc. (NASDAQ:RSVR)’s share price gapped down before the market opened on Monday . The stock had previously closed at $9.75, but opened at $9.44. Reservoir Media shares last traded at $9.5530, with a volume of 1,547 shares trading hands.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings downgraded Reservoir Media from a “hold (c)” rating to a “hold (c-)” rating in a report on Thursday, August 20th. Three analysts have rated the stock with a Hold rating, Based on data from MarketBeat, Reservoir Media currently has a consensus rating of “Hold”.

Reservoir Media Stock Down 0.4%

The company has a market cap of $633.13 million, a price-to-earnings ratio of 74.01 and a beta of 0.75. The stock’s 50-day moving average is $10.15 and its 200-day moving average is $9.81. The company has a current ratio of 1.31, a quick ratio of 1.31 and a debt-to-equity ratio of 1.22.

Reservoir Media (NASDAQ:RSVR) last issued its earnings results on Thursday, May 28th. The company reported $0.07 EPS for the quarter, beating the consensus estimate of $0.05 by $0.02. Reservoir Media had a return on equity of 2.33% and a net margin of 4.87%.The company had revenue of $47.50 million during the quarter, compared to the consensus estimate of $44.45 million. On average, analysts anticipate that Reservoir Media, Inc. will post 0.13 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the business. BNP Paribas Financial Markets grew 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 valued at $54,000 after buying an additional 3,521 shares during the last quarter. Tower Research Capital LLC TRC raised its holdings in shares of Reservoir Media by 373.1% in the 2nd quarter. Tower Research Capital LLC TRC now owns 7,504 shares of the company’s stock worth $58,000 after acquiring an additional 5,918 shares during the last quarter. Invesco Ltd. raised its holdings in shares of Reservoir Media by 22.1% in the 4th quarter. Invesco Ltd. now owns 13,446 shares of the company’s stock worth $102,000 after acquiring an additional 2,433 shares during the last quarter. Wells Fargo & Company MN lifted 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 acquiring an additional 7,421 shares in the last quarter. Finally, Bank of America Corp DE bought a new position in Reservoir Media in the 2nd quarter valued at about $179,000. 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.