North Star Investment Management Corp. Takes $298,000 Position in Reservoir Media, Inc. (NASDAQ:RSVR)

North Star Investment Management Corp. bought a new position in shares of Reservoir Media, Inc. (NASDAQ:RSVR) in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 39,000 shares of the company’s stock, valued at approximately $298,000.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. JPMorgan Chase & Co. grew its stake in Reservoir Media by 58.9% during the fourth quarter. JPMorgan Chase & Co. now owns 104,146 shares of the company’s stock worth $943,000 after buying an additional 38,609 shares during the period. Dimensional Fund Advisors LP lifted its holdings in shares of Reservoir Media by 18.6% during the 4th quarter. Dimensional Fund Advisors LP now owns 352,568 shares of the company’s stock valued at $3,191,000 after acquiring an additional 55,396 shares in the last quarter. Barclays PLC boosted its position in Reservoir Media by 9.1% during the 4th quarter. Barclays PLC now owns 66,537 shares of the company’s stock worth $603,000 after purchasing an additional 5,549 shares during the period. Schonfeld Strategic Advisors LLC acquired a new stake in Reservoir Media in the 4th quarter valued at $1,131,000. Finally, Hurley Capital LLC purchased a new position in Reservoir Media in the fourth quarter valued at about $1,183,000. Institutional investors and hedge funds own 44.38% of the company’s stock.

Reservoir Media Price Performance

Shares of RSVR stock opened at $7.22 on Monday. The firm has a fifty day simple moving average of $7.32 and a 200-day simple moving average of $7.86. The company has a market capitalization of $471.49 million, a PE ratio of 65.64, a price-to-earnings-growth ratio of 7.16 and a beta of 0.90. Reservoir Media, Inc. has a twelve month low of $6.56 and a twelve month high of $9.83. The company has a current ratio of 1.20, a quick ratio of 1.20 and a debt-to-equity ratio of 1.03.

Reservoir Media (NASDAQ:RSVR) last issued its quarterly earnings data on Wednesday, May 28th. The company reported $0.04 EPS for the quarter, hitting analysts’ consensus estimates of $0.04. The firm had revenue of $41.42 million for the quarter, compared to analyst estimates of $40.31 million. Reservoir Media had a net margin of 5.04% and a return on equity of 2.20%. Equities research analysts anticipate that Reservoir Media, Inc. will post 0.11 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on RSVR shares. Wall Street Zen downgraded Reservoir Media from a “hold” rating to a “sell” rating in a research report on Sunday. B. Riley reissued a “buy” rating and set a $11.50 price target (down from $12.50) on shares of Reservoir Media in a research report on Friday, June 6th.

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.