Reservoir Media (NASDAQ:RSVR) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of Reservoir Media (NASDAQ:RSVR) from a sell rating to a hold rating in a report released on Saturday morning.

Separately, B. Riley restated a “buy” rating and set a $11.50 target price (down previously from $12.50) on shares of Reservoir Media in a research note on Friday.

Reservoir Media Stock Performance

Shares of RSVR opened at $7.30 on Friday. The firm has a 50-day moving average of $7.31 and a 200-day moving average of $7.92. Reservoir Media has a one year low of $6.56 and a one year high of $9.83. The company has a market cap of $476.71 million, a PE ratio of 66.37, a price-to-earnings-growth ratio of 7.16 and a beta of 0.90. The company has a debt-to-equity ratio of 1.03, a current ratio of 1.20 and a quick ratio of 1.20.

Reservoir Media (NASDAQ:RSVR) last announced its quarterly earnings data on Wednesday, May 28th. The company reported $0.04 EPS for the quarter, meeting analysts’ consensus estimates of $0.04. Reservoir Media had a net margin of 5.04% and a return on equity of 2.20%. The company had revenue of $41.42 million during the quarter, compared to the consensus estimate of $40.31 million. As a group, equities analysts forecast that Reservoir Media will post 0.11 earnings per share for the current year.

Institutional Trading of Reservoir Media

A number of hedge funds have recently modified their holdings of the stock. Wells Fargo & Company MN lifted its stake in shares of Reservoir Media by 22.4% during the 4th quarter. Wells Fargo & Company MN now owns 13,851 shares of the company’s stock worth $125,000 after buying an additional 2,531 shares during the last quarter. Goldman Sachs Group Inc. lifted its stake in shares of 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. Inspire Investing LLC lifted its stake in shares of Reservoir Media by 7.5% during the 1st quarter. Inspire Investing LLC now owns 46,838 shares of the company’s stock worth $357,000 after buying an additional 3,281 shares during the last quarter. Hurley Capital LLC raised its stake in Reservoir Media by 3.4% in the 1st quarter. Hurley Capital LLC now owns 144,104 shares of the company’s stock worth $1,100,000 after purchasing an additional 4,741 shares in the last quarter. Finally, Meridian Wealth Advisors LLC raised its stake in Reservoir Media by 49.7% in the 4th quarter. Meridian Wealth Advisors LLC now owns 14,974 shares of the company’s stock worth $136,000 after purchasing an additional 4,974 shares in the last quarter. Institutional investors and hedge funds own 44.38% of the company’s stock.

About Reservoir Media

Reservoir Media, Inc operates as a music publishing company. It operates through two segments, Music Publishing and Recorded Music. The Music Publishing segment acquires interests in music catalogs, as well as signs songwriters. The Recorded Music segment engages in the acquisition of sound recording catalogs; discovery and development of recording artists; and marketing, distribution, sale, and licensing of the music catalogs.