Reservoir Media (NASDAQ:RSVR) Shares Gap Down – What’s Next?

Reservoir Media, Inc. (NASDAQ:RSVR)’s stock price gapped down before the market opened on Wednesday . The stock had previously closed at $7.80, but opened at $7.31. Reservoir Media shares last traded at $7.70, with a volume of 22,522 shares.

Reservoir Media Price Performance

The company has a debt-to-equity ratio of 1.03, a current ratio of 1.20 and a quick ratio of 1.20. The firm’s 50 day moving average is $7.28 and its 200 day moving average is $8.01. The firm has a market cap of $495.77 million, a P/E ratio of 69.10, a price-to-earnings-growth ratio of 7.16 and a beta of 0.90.

Reservoir Media (NASDAQ:RSVR) last issued its earnings results on Wednesday, May 28th. The company reported $0.04 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.04. Reservoir Media had a net margin of 5.04% and a return on equity of 2.20%. As a group, analysts anticipate that Reservoir Media, Inc. will post 0.11 earnings per share for the current year.

Institutional Trading of Reservoir Media

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Irenic Capital Management LP increased its stake in Reservoir Media by 1.2% in the 1st quarter. Irenic Capital Management LP now owns 5,388,003 shares of the company’s stock worth $41,110,000 after buying an additional 65,421 shares during the period. Russell Investments Group Ltd. increased its stake in Reservoir Media by 67.7% in the 1st quarter. Russell Investments Group Ltd. now owns 380,812 shares of the company’s stock worth $2,906,000 after buying an additional 153,705 shares during the period. Dimensional Fund Advisors LP increased its stake in Reservoir Media by 18.6% in the 4th quarter. Dimensional Fund Advisors LP now owns 352,568 shares of the company’s stock worth $3,191,000 after buying an additional 55,396 shares during the period. Northern Trust Corp increased its stake in Reservoir Media by 2.5% in the 4th quarter. Northern Trust Corp now owns 203,686 shares of the company’s stock worth $1,843,000 after buying an additional 4,983 shares during the period. Finally, Hurley Capital LLC increased its stake in Reservoir Media by 3.4% in the 1st quarter. Hurley Capital LLC now owns 144,104 shares of the company’s stock worth $1,100,000 after buying an additional 4,741 shares during the period. 44.38% of the stock is owned by hedge funds and other institutional investors.

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.