Reservoir Media (NASDAQ:RSVR) Stock Price Down 1.1%

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

Wall Street Analyst Weigh In

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

Reservoir Media Stock Down 1.1 %

The firm has a 50-day moving average price of $7.63 and a two-hundred day moving average price of $7.76. The firm has a market cap of $505.67 million, a price-to-earnings ratio of -777,000.00, a price-to-earnings-growth ratio of 8.42 and a beta of 0.90. The company has a debt-to-equity ratio of 0.91, a quick ratio of 1.16 and a current ratio of 1.28.

Reservoir Media (NASDAQ:RSVR) last released its quarterly earnings data on Wednesday, July 31st. The company reported ($0.01) earnings per share for the quarter. Reservoir Media had a return on equity of 0.96% and a net margin of 0.01%. The company had revenue of $34.32 million for the quarter, compared to analyst estimates of $34.42 million. On average, sell-side analysts forecast that Reservoir Media, Inc. will post 0.09 earnings per share for the current year.

Hedge Funds Weigh In On Reservoir Media

Large investors have recently bought and sold shares of the stock. Sanders Morris Harris LLC acquired a new stake in shares of Reservoir Media during the first quarter worth about $7,249,000. GSA Capital Partners LLP grew its stake 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 buying an additional 12,989 shares during the last quarter. Russell Investments Group Ltd. increased its position in Reservoir Media by 14.8% during the first quarter. Russell Investments Group Ltd. now owns 261,691 shares of the company’s stock worth $2,075,000 after buying an additional 33,819 shares during the period. Vanguard Group Inc. increased its position in Reservoir Media by 1.7% during the first quarter. Vanguard Group Inc. now owns 1,090,964 shares of the company’s stock worth $8,651,000 after buying an additional 17,830 shares during the period. Finally, Boston Partners lifted its stake in Reservoir Media by 10.7% in the first quarter. Boston Partners now owns 59,067 shares of the company’s stock valued at $468,000 after buying an additional 5,707 shares during the last quarter. Institutional investors and hedge funds own 44.38% of the company’s stock.

About Reservoir Media

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.