Reservoir Media (NASDAQ:RSVR) Shares Down 1.1%

Reservoir Media, Inc. (NASDAQ:RSVR) shares were down 1.1% on Tuesday . The company traded as low as $7.74 and last traded at $7.77. Approximately 25,358 shares changed hands during trading, a decline of 58% from the average daily volume of 60,894 shares. The stock had previously closed at $7.86.

Analysts Set New Price Targets

Separately, B. Riley upped their price objective on shares of Reservoir Media from $11.00 to $11.50 and gave the stock a “buy” rating in a report on Friday, May 31st.

Reservoir Media Stock Down 1.1 %

The business has a 50 day simple moving average of $7.63 and a 200 day simple moving average of $7.76. The company has a market capitalization of $505.67 million, a price-to-earnings ratio of -777,000.00, a PEG ratio of 8.42 and a beta of 0.90. The company has a debt-to-equity ratio of 0.91, a current ratio of 1.28 and a quick ratio of 1.16.

Reservoir Media (NASDAQ:RSVR) last announced its earnings results on Wednesday, July 31st. The company reported ($0.01) EPS for the quarter. The firm had revenue of $34.32 million for the quarter, compared to analysts’ expectations of $34.42 million. Reservoir Media had a net margin of 0.01% and a return on equity of 0.96%. As a group, equities analysts predict that Reservoir Media, Inc. will post 0.09 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Reservoir Media

Large investors have recently added to or reduced their stakes in the business. Boston Partners grew its stake in shares of Reservoir Media by 10.7% in the first quarter. Boston Partners now owns 59,067 shares of the company’s stock worth $468,000 after acquiring an additional 5,707 shares in the last quarter. The Manufacturers Life Insurance Company purchased a new stake in Reservoir Media during the 2nd quarter worth about $81,000. GSA Capital Partners LLP increased its holdings in Reservoir Media by 31.1% during the 1st quarter. GSA Capital Partners LLP now owns 54,746 shares of the company’s stock worth $434,000 after purchasing an additional 12,989 shares during the period. AWM Investment Company Inc. raised its position in Reservoir Media by 2.1% in the 1st quarter. AWM Investment Company Inc. now owns 716,662 shares of the company’s stock valued at $5,683,000 after purchasing an additional 15,000 shares in the last quarter. Finally, Vanguard Group Inc. boosted its stake in shares of Reservoir Media by 1.7% in the 1st quarter. Vanguard Group Inc. now owns 1,090,964 shares of the company’s stock valued at $8,651,000 after buying an additional 17,830 shares during the period. 44.38% of the stock is owned by hedge funds and other institutional investors.

Reservoir Media Company Profile

Reservoir Media, Inc operates as a music publishing company. It operates through two segments, Music Publishing and Recorded Music. The Music Publishing segment acquires interests in music catalogs, as well as signs songwriters. The Recorded Music segment engages in the acquisition of sound recording catalogs; discovery and development of recording artists; and marketing, distribution, sale, and licensing of the music catalogs.