Reservoir Media (NASDAQ:RSVR) Issues Quarterly Earnings Results

by · The Cerbat Gem

Reservoir Media (NASDAQ:RSVR – Get Free Report) issued its earnings results on Thursday. The company reported $0.07 EPS for the quarter, beating the consensus estimate of $0.05 by $0.02, Zacks reports. Reservoir Media had a return on equity of 1.77% and a net margin of 3.87%.The business had revenue of $47.50 million for the quarter, compared to the consensus estimate of $44.45 million.

Reservoir Media Stock Performance

RSVR stock opened at $10.40 on Thursday. The company has a market cap of $682.24 million, a P/E ratio of 115.57 and a beta of 0.74. Reservoir Media has a 1 year low of $6.97 and a 1 year high of $10.54. The company has a debt-to-equity ratio of 1.21, a current ratio of 1.19 and a quick ratio of 1.19. The stock’s fifty day moving average price is $9.91 and its 200-day moving average price is $8.52.

Wall Street Analyst Weigh In

Several brokerages have commented on RSVR. B. Riley Financial downgraded Reservoir Media from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, March 4th. Weiss Ratings reiterated a “hold (c)” rating on shares of Reservoir Media in a research note on Friday, March 27th. Finally, Wall Street Zen upgraded Reservoir Media from a “sell” rating to a “hold” rating in a research note on Saturday, February 7th. Three equities research analysts have rated the stock with a Hold rating, Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $11.50.

Check Out Our Latest Report on RSVR

Hedge Funds Weigh In On Reservoir Media

A number of institutional investors have recently bought and sold shares of RSVR. Russell Investments Group Ltd. raised its holdings in Reservoir Media by 19.9% in the 4th quarter. Russell Investments Group Ltd. now owns 576,776 shares of the company’s stock worth $4,366,000 after purchasing an additional 95,917 shares during the period. Dimensional Fund Advisors LP raised its holdings in Reservoir Media by 6.3% in the 4th quarter. Dimensional Fund Advisors LP now owns 1,072,817 shares of the company’s stock worth $8,121,000 after purchasing an additional 63,127 shares during the period. Goldman Sachs Group Inc. raised its holdings in Reservoir Media by 19.7% in the 4th quarter. Goldman Sachs Group Inc. now owns 137,946 shares of the company’s stock worth $1,044,000 after purchasing an additional 22,674 shares during the period. Hsbc Holdings PLC raised its holdings in Reservoir Media by 59.0% in the 2nd quarter. Hsbc Holdings PLC now owns 54,205 shares of the company’s stock worth $409,000 after purchasing an additional 20,116 shares during the period. Finally, Jane Street Group LLC raised its holdings in Reservoir Media by 56.7% in the 1st quarter. Jane Street Group LLC now owns 49,649 shares of the company’s stock worth $379,000 after purchasing an additional 17,963 shares during the period. 44.38% of the stock is owned by institutional investors.

About Reservoir Media

(Get 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.

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