Reservoir Media, Inc. $RSVR Shares Purchased by Irenic Capital Management LP

Irenic Capital Management LP raised its stake in shares of Reservoir Media, Inc. (NASDAQ:RSVRFree Report) by 3.3% in the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 6,181,176 shares of the company’s stock after acquiring an additional 195,000 shares during the quarter. Reservoir Media makes up 4.0% of Irenic Capital Management LP’s portfolio, making the stock its 6th largest holding. Irenic Capital Management LP owned about 0.09% of Reservoir Media worth $60,514,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently made changes to their positions in RSVR. BNP Paribas Financial Markets grew its holdings in shares of Reservoir Media by 101.1% in the 2nd quarter. BNP Paribas Financial Markets now owns 7,003 shares of the company’s stock worth $54,000 after purchasing an additional 3,521 shares during the last quarter. Tower Research Capital LLC TRC increased its position in shares of Reservoir Media by 373.1% during the 2nd quarter. Tower Research Capital LLC TRC now owns 7,504 shares of the company’s stock worth $58,000 after purchasing an additional 5,918 shares in the last quarter. Invesco Ltd. lifted its holdings in Reservoir Media by 22.1% during the 4th quarter. Invesco Ltd. now owns 13,446 shares of the company’s stock valued at $102,000 after purchasing an additional 2,433 shares during the last quarter. Wells Fargo & Company MN lifted its holdings in Reservoir Media by 48.3% during the 4th quarter. Wells Fargo & Company MN now owns 22,780 shares of the company’s stock valued at $172,000 after purchasing an additional 7,421 shares during the last quarter. Finally, Gabelli Funds LLC boosted 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 valued at $224,000 after buying an additional 4,500 shares in the last quarter. Institutional investors and hedge funds own 44.38% of the company’s stock.

Analyst Ratings Changes

Separately, Weiss Ratings raised shares of Reservoir Media from a “hold (c)” rating to a “hold (c+)” rating in a research note on Wednesday, July 8th. Three investment analysts have rated the stock with a Hold rating, Based on data from MarketBeat.com, Reservoir Media has an average rating of “Hold”.

Check Out Our Latest Report on Reservoir Media

Reservoir Media Price Performance

Reservoir Media stock opened at $11.10 on Wednesday. The business’s fifty day moving average is $10.25 and its two-hundred day moving average is $9.39. The company has a debt-to-equity ratio of 1.20, a quick ratio of 1.41 and a current ratio of 1.41. The firm has a market cap of $730.49 million, a P/E ratio of 92.51 and a beta of 0.74. Reservoir Media, Inc. has a 52 week low of $7.07 and a 52 week high of $13.39.

Reservoir Media (NASDAQ:RSVRGet Free Report) last announced its earnings results on Thursday, May 28th. The company reported $0.07 earnings per share for the quarter, beating analysts’ consensus estimates 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 during the quarter, compared to analyst estimates of $44.45 million. Equities research analysts forecast that Reservoir Media, Inc. will post 0.13 earnings per share for the current fiscal year.

Reservoir Media Company Profile

(Free Report)

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.

Further Reading

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Institutional Ownership by Quarter for Reservoir Media (NASDAQ:RSVR)

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