Reservoir Media (NASDAQ:RSVR) Issues Quarterly Earnings Results

Reservoir Media (NASDAQ:RSVR) announced its quarterly earnings data on Wednesday. The company reported $0.03 EPS for the quarter, beating the consensus estimate of $0.02 by $0.01, FiscalAI reports. Reservoir Media had a net margin of 5.78% and a return on equity of 2.62%. The company had revenue of $45.57 million for the quarter, compared to the consensus estimate of $42.63 million.

Reservoir Media Stock Performance

RSVR traded up $0.12 on Wednesday, hitting $7.34. 2,561 shares of the company traded hands, compared to its average volume of 60,757. The company has a quick ratio of 1.35, a current ratio of 1.35 and a debt-to-equity ratio of 1.13. Reservoir Media has a 12-month low of $6.56 and a 12-month high of $8.94. The stock has a market capitalization of $481.10 million, a PE ratio of 52.39 and a beta of 0.88. The company has a 50 day moving average of $7.47 and a 200-day moving average of $7.61.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on the company. Wall Street Zen cut Reservoir Media from a “hold” rating to a “sell” rating in a research report on Saturday, November 8th. Weiss Ratings reissued 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 assigned a Hold rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $11.50.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of RSVR. Russell Investments Group Ltd. raised its stake in Reservoir Media by 11.0% during the third quarter. Russell Investments Group Ltd. now owns 480,859 shares of the company’s stock valued at $3,914,000 after buying an additional 47,812 shares in the last quarter. Barclays PLC increased its holdings in Reservoir Media by 12.8% in the 3rd quarter. Barclays PLC now owns 129,426 shares of the company’s stock valued at $1,054,000 after buying an additional 14,683 shares during the period. Dimensional Fund Advisors LP increased its stake in shares of Reservoir Media by 3.5% in the third quarter. Dimensional Fund Advisors LP now owns 1,009,690 shares of the company’s stock valued at $8,218,000 after buying an additional 34,470 shares in the last quarter. JPMorgan Chase & Co. increased its stake in shares of Reservoir Media by 21.7% in the 3rd quarter. JPMorgan Chase & Co. now owns 47,377 shares of the company’s stock valued at $386,000 after acquiring an additional 8,443 shares during the last quarter. Finally, Hsbc Holdings PLC grew its stake in shares of Reservoir Media by 59.0% during the 2nd quarter. Hsbc Holdings PLC now owns 54,205 shares of the company’s stock worth $409,000 after acquiring an additional 20,116 shares in the last quarter. Institutional investors and hedge funds own 44.38% of the company’s stock.

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.