Reservoir Media (NASDAQ:RSVR) Sees Large Volume Increase – Here’s Why

Shares of Reservoir Media, Inc. (NASDAQ:RSVR) saw unusually-strong trading volume on Friday . Approximately 148,332 shares were traded during trading, an increase of 58% from the previous session’s volume of 94,103 shares.The stock last traded at $9.2710 and had previously closed at $9.43.

Analyst Ratings Changes

A number of research firms have recently commented on RSVR. B. Riley Financial lowered Reservoir Media from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, March 4th. Weiss Ratings restated a “hold (c)” rating on shares of Reservoir Media in a research note on Monday, December 29th. Finally, Wall Street Zen raised Reservoir Media from a “sell” rating to a “hold” rating in a research report on Saturday, February 7th. Three analysts have rated the stock with a Hold rating, Based on data from MarketBeat, Reservoir Media has an average rating of “Hold” and an average target price of $11.50.

Reservoir Media Stock Performance

The firm’s fifty day moving average price is $8.18 and its 200-day moving average price is $7.79. The company has a market cap of $607.78 million, a P/E ratio of 102.98 and a beta of 0.84. The company has a current ratio of 1.19, a quick ratio of 1.19 and a debt-to-equity ratio of 1.21.

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

Hedge Funds Weigh In On Reservoir Media

A number of hedge funds have recently modified their holdings of the stock. Invesco Ltd. boosted its stake in Reservoir Media by 22.1% in the 4th quarter. Invesco Ltd. now owns 13,446 shares of the company’s stock valued at $102,000 after buying an additional 2,433 shares in the last quarter. Inspire Investing LLC raised its stake in Reservoir Media by 10.3% during the fourth quarter. Inspire Investing LLC now owns 62,494 shares of the company’s stock worth $473,000 after acquiring an additional 5,842 shares in the last quarter. Irenic Capital Management LP lifted its holdings in shares of Reservoir Media by 5.6% during the fourth quarter. Irenic Capital Management LP now owns 5,986,176 shares of the company’s stock valued at $45,315,000 after acquiring an additional 316,505 shares during the period. 683 Capital Management LLC acquired a new stake in shares of Reservoir Media in the 4th quarter valued at $1,188,000. Finally, Russell Investments Group Ltd. boosted its stake in shares of Reservoir Media by 19.9% in the 4th quarter. Russell Investments Group Ltd. now owns 576,776 shares of the company’s stock valued at $4,366,000 after purchasing an additional 95,917 shares in the last quarter. 44.38% of the stock is owned by institutional investors and hedge funds.

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.