Reservoir Media (NASDAQ:RSVR) Downgraded to “Sell” Rating by Wall Street Zen

Wall Street Zen lowered shares of Reservoir Media (NASDAQ:RSVR) from a hold rating to a sell rating in a report published on Friday.

Reservoir Media Price Performance

RSVR stock opened at $7.99 on Friday. Reservoir Media has a 12 month low of $6.56 and a 12 month high of $9.83. The company has a 50-day moving average price of $7.30 and a 200 day moving average price of $7.99. The stock has a market cap of $521.21 million, a PE ratio of 72.64, a P/E/G ratio of 7.16 and a beta of 0.90. The company has a current ratio of 1.20, a quick ratio of 1.20 and a debt-to-equity ratio of 1.03.

Reservoir Media (NASDAQ:RSVR) last announced its quarterly earnings data on Wednesday, May 28th. The company reported $0.04 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.04. Reservoir Media had a net margin of 5.04% and a return on equity of 2.20%. The company had revenue of $41.42 million during the quarter, compared to analyst estimates of $40.31 million. Equities research analysts anticipate that Reservoir Media will post 0.11 earnings per share for the current year.

Institutional Investors Weigh In On Reservoir Media

A number of institutional investors and hedge funds have recently added to or reduced their stakes in RSVR. BNP Paribas Financial Markets bought a new stake in shares of Reservoir Media in the 4th quarter valued at about $51,000. First Pacific Advisors LP purchased a new stake in shares of Reservoir Media in the 1st quarter valued at $50,000. Corton Capital Inc. purchased a new stake in shares of Reservoir Media in the 1st quarter valued at $105,000. Wells Fargo & Company MN boosted its holdings in shares of Reservoir Media by 22.4% in the 4th quarter. Wells Fargo & Company MN now owns 13,851 shares of the company’s stock valued at $125,000 after acquiring an additional 2,531 shares during the last quarter. Finally, Meridian Wealth Advisors LLC boosted its holdings in shares of Reservoir Media by 49.7% in the 4th quarter. Meridian Wealth Advisors LLC now owns 14,974 shares of the company’s stock valued at $136,000 after acquiring an additional 4,974 shares during the last quarter. Institutional investors 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.