Short Interest in Reservoir Media, Inc. (NASDAQ:RSVR) Drops By 35.5%

Reservoir Media, Inc. (NASDAQ:RSVR) saw a significant drop in short interest in July. As of July 31st, there was short interest totaling 468,513 shares, a drop of 35.5% from the July 15th total of 726,675 shares. Based on an average daily volume of 63,167 shares, the days-to-cover ratio is presently 7.4 days. Currently, 1.0% of the company’s stock are sold short.

Reservoir Media Stock Down 1.6%

Shares of RSVR opened at $9.80 on Tuesday. The company has a market capitalization of $644.94 million, a PE ratio of 75.39 and a beta of 0.75. The company has a quick ratio of 1.31, a current ratio of 1.31 and a debt-to-equity ratio of 1.22. The stock has a fifty day simple moving average of $10.23 and a two-hundred day simple moving average of $9.66. Reservoir Media has a 52-week low of $7.07 and a 52-week high of $13.39.

Reservoir Media (NASDAQ:RSVR) last issued its quarterly earnings data on Thursday, May 28th. The company reported $0.07 earnings per share for the quarter, topping the consensus estimate of $0.05 by $0.02. The company had revenue of $47.50 million during the quarter, compared to analyst estimates of $44.45 million. Reservoir Media had a return on equity of 2.33% and a net margin of 4.87%. As a group, equities analysts forecast that Reservoir Media will post 0.13 EPS for the current year.

Wall Street Analyst Weigh In

Separately, Weiss Ratings downgraded shares of Reservoir Media from a “hold (c+)” rating to a “hold (c)” rating in a research note on Thursday, August 6th. Three equities research analysts have rated the stock with a Hold rating, According to data from MarketBeat, the company presently has an average rating of “Hold”.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in RSVR. BNP Paribas Financial Markets increased its holdings in shares of Reservoir Media by 101.1% in the 2nd quarter. BNP Paribas Financial Markets now owns 7,003 shares of the company’s stock valued at $54,000 after acquiring an additional 3,521 shares during the last quarter. Tower Research Capital LLC TRC increased its holdings in shares of Reservoir Media by 373.1% in the second quarter. Tower Research Capital LLC TRC now owns 7,504 shares of the company’s stock valued at $58,000 after purchasing an additional 5,918 shares during the period. Invesco Ltd. raised its stake in shares of Reservoir Media by 22.1% during 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. Bank of America Corp DE purchased a new stake in shares of Reservoir Media during the second quarter worth approximately $179,000. Finally, Deutsche Bank AG acquired a new stake in shares of Reservoir Media during the second quarter worth $189,000. Institutional investors and hedge funds own 44.38% of the company’s stock.

Reservoir Media Company Profile

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.