Reservoir Media (NASDAQ:RSVR) Reaches New 12-Month High – Still a Buy?

by · The Markets Daily

Reservoir Media, Inc. (NASDAQ:RSVR – Get Free Report)’s stock price reached a new 52-week high on Monday . The stock traded as high as $9.20 and last traded at $9.14, with a volume of 29693 shares trading hands. The stock had previously closed at $8.73.

Reservoir Media Stock Up 2.3 %

The stock has a market capitalization of $581.16 million, a price-to-earnings ratio of -872.13, a price-to-earnings-growth ratio of 9.54 and a beta of 0.90. The company has a quick ratio of 1.16, a current ratio of 1.28 and a debt-to-equity ratio of 0.91. The firm has a 50-day moving average of $7.61 and a two-hundred day moving average of $7.81.

Reservoir Media (NASDAQ:RSVR – Get Free Report) last posted its quarterly earnings results on Wednesday, July 31st. The company reported ($0.01) earnings per share for the quarter. The business had revenue of $34.32 million for the quarter, compared to analyst estimates of $34.42 million. Reservoir Media had a net margin of 0.01% and a return on equity of 0.96%. As a group, sell-side analysts anticipate that Reservoir Media, Inc. will post 0.09 earnings per share for the current year.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of the company. Boston Partners increased its position in Reservoir Media by 10.7% in the 1st quarter. Boston Partners now owns 59,067 shares of the company’s stock worth $468,000 after purchasing an additional 5,707 shares during the last quarter. Inspire Investing LLC increased its position in Reservoir Media by 13.7% in the 3rd quarter. Inspire Investing LLC now owns 52,858 shares of the company’s stock worth $429,000 after purchasing an additional 6,375 shares during the last quarter. The Manufacturers Life Insurance Company acquired a new position in Reservoir Media in the 2nd quarter worth about $81,000. GSA Capital Partners LLP increased its position in Reservoir Media by 31.1% in the 1st quarter. GSA Capital Partners LLP now owns 54,746 shares of the company’s stock worth $434,000 after purchasing an additional 12,989 shares during the last quarter. Finally, AWM Investment Company Inc. increased its position in Reservoir Media by 2.1% in the 1st quarter. AWM Investment Company Inc. now owns 716,662 shares of the company’s stock worth $5,683,000 after purchasing an additional 15,000 shares during the last quarter. 44.38% of the stock is owned by institutional investors and hedge funds.

Reservoir Media Company Profile

(Get Free Report)

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.

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