Reservoir Media, Inc. (NASDAQ:RSVR – Get Free Report)’s stock price rose 9.2% during trading on Monday . The company traded as high as $10.41 and last traded at $11.27. Approximately 843 shares traded hands during mid-day trading, a decline of 99% from the average daily volume of 86,398 shares. The stock had previously closed at $10.32.
Analyst Upgrades and Downgrades
A number of analysts have issued reports on RSVR shares. Weiss Ratings raised Reservoir Media from a “hold (c)” rating to a “hold (c+)” rating in a research note on Tuesday, June 2nd. B. Riley Financial downgraded Reservoir Media from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, March 4th. Three investment analysts have rated the stock with a Hold rating, According to MarketBeat, the stock currently has an average rating of “Hold”.
Check Out Our Latest Stock Report on Reservoir Media
Reservoir Media Stock Up 0.2%
Reservoir Media (NASDAQ:RSVR – Get Free Report) last issued its quarterly earnings data on Thursday, May 28th. The company reported $0.07 earnings per share for the quarter, topping the consensus estimate of $0.05 by $0.02. Reservoir Media had a return on equity of 2.22% and a net margin of 4.73%.The company had revenue of $47.50 million for the quarter, compared to analysts’ expectations of $44.45 million. Research analysts anticipate that Reservoir Media, Inc. will post 0.13 EPS for the current fiscal year.
Institutional Trading of Reservoir Media
A number of institutional investors have recently bought and sold shares of RSVR. BNP Paribas Financial Markets lifted its position in Reservoir Media by 101.1% in the second quarter. BNP Paribas Financial Markets now owns 7,003 shares of the company’s stock worth $54,000 after buying an additional 3,521 shares during the last quarter. Tower Research Capital LLC TRC lifted its position in Reservoir Media by 373.1% in the second quarter. Tower Research Capital LLC TRC now owns 7,504 shares of the company’s stock worth $58,000 after buying an additional 5,918 shares during the last quarter. Invesco Ltd. lifted its position in Reservoir Media by 22.1% in the fourth quarter. Invesco Ltd. now owns 13,446 shares of the company’s stock worth $102,000 after buying an additional 2,433 shares during the last quarter. Wells Fargo & Company MN lifted its position in Reservoir Media by 48.3% in the fourth quarter. Wells Fargo & Company MN now owns 22,780 shares of the company’s stock worth $172,000 after buying an additional 7,421 shares during the last quarter. Finally, Gabelli Funds LLC lifted its position in Reservoir Media by 19.6% in the third quarter. Gabelli Funds LLC now owns 27,500 shares of the company’s stock worth $224,000 after buying an additional 4,500 shares during the last quarter. 44.38% of the stock is currently owned by institutional investors.
Reservoir Media Company Profile
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.
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