Roth Capital Equities Analysts Lower Earnings Estimates for Reservoir Media, Inc. (NASDAQ:RSVR)

Reservoir Media, Inc. (NASDAQ:RSVRFree Report) – Stock analysts at Roth Capital dropped their FY2024 earnings per share (EPS) estimates for Reservoir Media in a research report issued on Wednesday, February 7th. Roth Capital analyst R. Baldry now expects that the company will post earnings of ($0.02) per share for the year, down from their previous estimate of $0.03. The consensus estimate for Reservoir Media’s current full-year earnings is ($0.01) per share.

Reservoir Media Stock Up 5.3 %

Shares of NASDAQ RSVR opened at $6.75 on Monday. Reservoir Media has a 12 month low of $5.19 and a 12 month high of $7.54. The company has a current ratio of 1.26, a quick ratio of 1.14 and a debt-to-equity ratio of 0.97. The firm has a market capitalization of $437.54 million, a price-to-earnings ratio of 91.57 and a beta of 1.05. The business has a 50-day moving average of $6.82 and a 200-day moving average of $6.10.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of RSVR. Raymond James & Associates purchased a new position in shares of Reservoir Media during the first quarter worth about $118,000. Citigroup Inc. boosted its stake in Reservoir Media by 309.4% in the first quarter. Citigroup Inc. now owns 28,843 shares of the company’s stock worth $284,000 after buying an additional 21,797 shares in the last quarter. Bank of Montreal Can purchased a new stake in Reservoir Media in the first quarter worth approximately $1,821,000. BlackRock Inc. boosted its stake in Reservoir Media by 11.3% in the first quarter. BlackRock Inc. now owns 114,141 shares of the company’s stock worth $1,122,000 after buying an additional 11,584 shares in the last quarter. Finally, Vanguard Group Inc. boosted its stake in Reservoir Media by 0.3% in the first quarter. Vanguard Group Inc. now owns 881,761 shares of the company’s stock worth $8,667,000 after buying an additional 2,216 shares in the last quarter. Hedge funds and other institutional investors own 42.98% of the company’s stock.

About Reservoir Media

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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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Earnings History and Estimates for Reservoir Media (NASDAQ:RSVR)

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