Reservoir Media (NASDAQ:RSVR) Announces Quarterly Earnings Results, Beats Estimates By $0.02 EPS

Reservoir Media (NASDAQ:RSVR) released its earnings results on Thursday. The company reported $0.07 earnings per share for the quarter, beating analysts’ consensus estimates of $0.05 by $0.02, Zacks reports. Reservoir Media had a net margin of 3.87% and a return on equity of 1.77%. The business had revenue of $47.50 million during the quarter, compared to the consensus estimate of $44.45 million.

Reservoir Media Stock Performance

Shares of RSVR stock opened at $10.40 on Thursday. The company has a market cap of $682.24 million, a price-to-earnings ratio of 115.57 and a beta of 0.74. Reservoir Media has a 52 week low of $6.97 and a 52 week high of $10.54. The company has a quick ratio of 1.19, a current ratio of 1.19 and a debt-to-equity ratio of 1.21. The firm has a 50 day moving average of $9.91 and a 200-day moving average of $8.52.

Institutional Trading of Reservoir Media

Several large investors have recently modified their holdings of the stock. BNP Paribas Financial Markets grew its stake in shares of Reservoir Media by 101.1% in the 2nd 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 period. Tower Research Capital LLC TRC grew its stake 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 valued at $58,000 after buying an additional 5,918 shares during the period. Invesco Ltd. grew its stake in shares of 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 during the period. Wells Fargo & Company MN grew its stake in shares of 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 buying an additional 7,421 shares during the period. Finally, Gabelli Funds LLC grew its stake in shares of Reservoir Media by 19.6% in the 3rd quarter. Gabelli Funds LLC now owns 27,500 shares of the company’s stock valued at $224,000 after buying an additional 4,500 shares during the period. Institutional investors and hedge funds own 44.38% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have issued reports on the stock. B. Riley Financial lowered shares of Reservoir Media from a “strong-buy” rating to a “hold” rating in a report on Wednesday, March 4th. Wall Street Zen upgraded shares of Reservoir Media from a “sell” rating to a “hold” rating in a report on Saturday, February 7th. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of Reservoir Media in a report on Friday, March 27th. Three investment analysts have rated the stock with a Hold rating, Based on data from MarketBeat, the stock has an average rating of “Hold” and an average price target 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.