Short Interest in Reservoir Media, Inc. (NASDAQ:RSVR) Decreases By 13.1%

Reservoir Media, Inc. (NASDAQ:RSVR) was the target of a significant decline in short interest during the month of March. As of March 13th, there was short interest totaling 1,129,943 shares, a decline of 13.1% from the February 26th total of 1,301,019 shares. Based on an average daily volume of 166,607 shares, the days-to-cover ratio is currently 6.8 days. Approximately 2.4% of the company’s stock are short sold.

Institutional Investors Weigh In On Reservoir Media

A number of large investors have recently bought and sold shares of RSVR. Goldman Sachs Group Inc. raised its position in Reservoir Media by 3.6% during the 1st quarter. Goldman Sachs Group Inc. now owns 90,003 shares of the company’s stock worth $687,000 after buying an additional 3,110 shares during the last quarter. Jane Street Group LLC boosted its holdings in Reservoir Media by 56.7% in the first quarter. Jane Street Group LLC now owns 49,649 shares of the company’s stock valued at $379,000 after purchasing an additional 17,963 shares during the last quarter. Geode Capital Management LLC boosted its holdings in Reservoir Media by 2.8% in the second quarter. Geode Capital Management LLC now owns 641,418 shares of the company’s stock valued at $4,921,000 after purchasing an additional 17,384 shares during the last quarter. Police & Firemen s Retirement System of New Jersey acquired a new stake in Reservoir Media during the 2nd quarter worth about $34,000. Finally, Boston Partners raised its stake in shares of Reservoir Media by 4.7% during the 2nd quarter. Boston Partners now owns 100,314 shares of the company’s stock valued at $769,000 after buying an additional 4,464 shares during the last quarter. Hedge funds and other institutional investors own 44.38% of the company’s stock.

Reservoir Media Price Performance

NASDAQ RSVR opened at $9.65 on Thursday. The company has a debt-to-equity ratio of 1.21, a current ratio of 1.19 and a quick ratio of 1.19. The stock’s fifty day moving average price is $8.53 and its 200 day moving average price is $7.89. Reservoir Media has a 1 year low of $6.56 and a 1 year high of $10.32. The company has a market cap of $633.04 million, a price-to-earnings ratio of 107.23 and a beta of 0.79.

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

Wall Street Analyst Weigh In

RSVR has been the subject of several analyst reports. Weiss Ratings reissued a “hold (c)” rating on shares of Reservoir Media in a research report on Friday, March 27th. B. Riley Financial lowered Reservoir Media from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, March 4th. Finally, Wall Street Zen upgraded Reservoir Media from a “sell” rating to a “hold” rating in a research note on Saturday, February 7th. Three equities research analysts have rated the stock with a Hold rating, Based on data from MarketBeat.com, Reservoir Media has a consensus rating of “Hold” and a consensus target price of $11.50.

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.