Sanders Morris Harris LLC Decreases Stock Holdings in Reservoir Media, Inc. $RSVR

Sanders Morris Harris LLC lowered its stake in shares of Reservoir Media, Inc. (NASDAQ:RSVR) by 31.8% during the 2nd quarter, according to its most recent filing with the SEC. The firm owned 181,435 shares of the company’s stock after selling 84,633 shares during the period. Reservoir Media makes up approximately 1.0% of Sanders Morris Harris LLC’s holdings, making the stock its 20th biggest position. Sanders Morris Harris LLC’s holdings in Reservoir Media were worth $1,794,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in the stock. Irenic Capital Management LP raised its holdings in shares of Reservoir Media by 3.3% during the first quarter. Irenic Capital Management LP now owns 6,181,176 shares of the company’s stock valued at $60,514,000 after purchasing an additional 195,000 shares during the last quarter. 683 Capital Management LLC bought a new position in Reservoir Media during the fourth quarter valued at approximately $1,188,000. Invesco Ltd. boosted its holdings in Reservoir Media by 22.1% in the fourth quarter. Invesco Ltd. now owns 13,446 shares of the company’s stock worth $102,000 after purchasing an additional 2,433 shares during the last quarter. Wells Fargo & Company MN boosted its holdings in Reservoir Media by 48.3% in the fourth quarter. Wells Fargo & Company MN now owns 22,780 shares of the company’s stock worth $172,000 after purchasing an additional 7,421 shares during the last quarter. Finally, BNP Paribas Financial Markets grew its position in Reservoir Media by 146.2% in the 3rd quarter. BNP Paribas Financial Markets now owns 17,244 shares of the company’s stock worth $140,000 after purchasing an additional 10,241 shares during the period. Hedge funds and other institutional investors own 44.38% of the company’s stock.

Analysts Set New Price Targets

Separately, Weiss Ratings upgraded 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, According to data from MarketBeat, Reservoir Media has an average rating of “Hold”.

Reservoir Media Price Performance

NASDAQ RSVR opened at $10.26 on Thursday. Reservoir Media, Inc. has a 52 week low of $7.07 and a 52 week high of $13.39. The firm has a market capitalization of $675.21 million, a P/E ratio of 78.93 and a beta of 0.75. The company has a quick ratio of 1.41, a current ratio of 1.41 and a debt-to-equity ratio of 1.20. The company has a 50-day moving average price of $10.27 and a 200-day moving average price of $9.52.

Reservoir Media (NASDAQ:RSVR) last posted its quarterly earnings data on Thursday, May 28th. The company reported $0.07 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.05 by $0.02. The company had revenue of $47.50 million for the quarter, compared to the consensus estimate of $44.45 million. Reservoir Media had a net margin of 4.87% and a return on equity of 2.34%. Equities research analysts anticipate that Reservoir Media, Inc. will post 0.12 earnings per share for the current year.

About Reservoir Media

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.