Reservoir Media, Inc. (NASDAQ:RSVR – Get Free Report) dropped 4.1% during trading on Friday . The company traded as low as $9.47 and last traded at $9.47. Approximately 6,247 shares traded hands during trading, a decline of 92% from the average daily volume of 76,649 shares. The stock had previously closed at $9.88.
Analyst Upgrades and Downgrades
Separately, Weiss Ratings cut shares of Reservoir Media from a “hold (c+)” rating to a “hold (c)” rating in a research report on Thursday, August 6th. Three research analysts have rated the stock with a Hold rating, According to MarketBeat.com, the company currently has an average rating of “Hold”.
View Our Latest Research Report on RSVR
Reservoir Media Trading Up 1.1%
Reservoir Media (NASDAQ:RSVR – Get Free Report) last issued its quarterly earnings results on Thursday, May 28th. The company reported $0.07 EPS for the quarter, beating the consensus estimate of $0.05 by $0.02. The company had revenue of $47.50 million for the quarter, compared to the consensus estimate of $44.45 million. Reservoir Media had a net margin of 4.87% and a return on equity of 2.33%. As a group, sell-side analysts forecast that Reservoir Media, Inc. will post 0.13 EPS for the current year.
Institutional Investors Weigh In On Reservoir Media
A number of institutional investors and hedge funds have recently modified their holdings of the business. Nantahala Capital Management LLC bought a new position in Reservoir Media in the 2nd quarter valued at $9,306,094,000. Bank of America Corp DE bought a new stake in Reservoir Media during the 2nd quarter valued at about $179,000. AWM Investment Company Inc. purchased a new stake in Reservoir Media in the 2nd quarter valued at about $5,395,000. BlackRock Inc. purchased a new stake in Reservoir Media in the 2nd quarter valued at about $12,533,000. Finally, Deutsche Bank AG bought a new position in Reservoir Media in the 2nd quarter worth about $189,000. 44.38% of the stock is 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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