Sanders Morris Harris LLC trimmed its holdings in shares of Reservoir Media, Inc. (NASDAQ:RSVR – Free Report) by 31.8% in the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 181,435 shares of the company’s stock after selling 84,633 shares during the period. Reservoir Media makes up approximately 1.0% of Sanders Morris Harris LLC’s holdings, making the stock its 20th largest position. Sanders Morris Harris LLC owned approximately 0.28% of Reservoir Media worth $1,794,000 as of its most recent SEC filing.
A number of other hedge funds have also recently made changes to their positions in RSVR. BNP Paribas Financial Markets increased its position in Reservoir Media by 101.1% during 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 in the last quarter. Tower Research Capital LLC TRC raised its stake in Reservoir Media by 373.1% during the second 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 last quarter. Invesco Ltd. boosted its holdings 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 acquiring an additional 2,433 shares in the last quarter. Wells Fargo & Company MN grew its stake in shares of 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 acquiring an additional 7,421 shares during the last quarter. Finally, Gabelli Funds LLC grew its stake in shares of 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 acquiring an additional 4,500 shares during the last quarter. 44.38% of the stock is owned by institutional investors.
Wall Street Analyst Weigh In
Separately, Weiss Ratings raised Reservoir Media from a “hold (c)” rating to a “hold (c+)” rating in a research report on Wednesday, July 8th. Three equities research analysts have rated the stock with a Hold rating, Based on data from MarketBeat, Reservoir Media has a consensus rating of “Hold”.
Reservoir Media Trading Up 2.0%
NASDAQ:RSVR opened at $10.26 on Thursday. The company’s 50 day moving average price is $10.27 and its 200-day moving average price is $9.52. Reservoir Media, Inc. has a 52 week low of $7.07 and a 52 week high of $13.39. The company has a quick ratio of 1.41, a current ratio of 1.41 and a debt-to-equity ratio of 1.20. The stock has a market cap of $675.21 million, a price-to-earnings ratio of 78.93 and a beta of 0.75.
Reservoir Media (NASDAQ:RSVR – Get Free Report) last announced its quarterly earnings data on Thursday, May 28th. The company reported $0.07 earnings per share for the quarter, topping analysts’ consensus estimates of $0.05 by $0.02. The company had revenue of $47.50 million during the quarter, compared to analyst estimates of $44.45 million. Reservoir Media had a net margin of 4.87% and a return on equity of 2.34%. On average, equities research analysts forecast that Reservoir Media, Inc. will post 0.12 earnings per share for the current fiscal year.
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.
Featured Articles
- Five stocks we like better than Reservoir Media
- SpaceX: Love the Company, But the Stock Is a Harder Call
- Ulta’s Growth Is Real, But So Are the Risks
- BWX Technologies Is Turning the AI Power Problem Into a Nuclear Growth Story
- Meta’s Earnings Drop Shows Wall Street Wants More Than Ad Growth
Want to see what other hedge funds are holding RSVR? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Reservoir Media, Inc. (NASDAQ:RSVR – Free Report).
Receive News & Ratings for Reservoir Media Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Reservoir Media and related companies with MarketBeat.com's FREE daily email newsletter.
