Fintel reports that on September 13, 2023, Roth MKM reiterated coverage of Reservoir Media (NASDAQ:RSVR) with a Buy recommendation.
Analyst Price Forecast Suggests 125.87% Upside
As of August 31, 2023, the average one-year price target for Reservoir Media is 12.92. The forecasts range from a low of 12.12 to a high of $13.65. The average price target represents an increase of 125.87% from its latest reported closing price of 5.72.
See our leaderboard of companies with the largest price target upside.
The projected annual revenue for Reservoir Media is 136MM, an increase of 4.93%. The projected annual non-GAAP EPS is 0.21.
What is the Fund Sentiment?
There are 136 funds or institutions reporting positions in Reservoir Media. This is an increase of 1 owner(s) or 0.74% in the last quarter. Average portfolio weight of all funds dedicated to RSVR is 0.35%, a decrease of 4.91%. Total shares owned by institutions increased in the last three months by 0.03% to 28,982K shares. 
The put/call ratio of RSVR is 6.16, indicating a bearish outlook.
What are Other Shareholders Doing?
Richmond Hill Investments holds 14,203K shares representing 21.95% ownership of the company. No change in the last quarter.
Irenic Capital Management holds 2,139K shares representing 3.31% ownership of the company.
Federated Hermes holds 1,500K shares representing 2.32% ownership of the company. No change in the last quarter.
ArrowMark Colorado Holdings holds 1,145K shares representing 1.77% ownership of the company. In it's prior filing, the firm reported owning 1,571K shares, representing a decrease of 37.26%. The firm decreased its portfolio allocation in RSVR by 35.03% over the last quarter.
Citigroup holds 1,055K shares representing 1.63% ownership of the company. In it's prior filing, the firm reported owning 0K shares, representing an increase of 100.00%.
Reservoir Media Background Information
(This description is provided by the company.)
Reservoir is an independent music company based in New York City and with offices in Los Angeles, Nashville, Toronto, London, and Abu Dhabi. It is the first U.S.-based publicly traded independent music company and the first female founded and led publicly traded music company in the U.S. Founded as a family-owned music publisher in 2007, Reservoir has grown to represent over 130,000 copyrights and 36,000 master recordings with titles dating as far back as 1900, and hundreds of #1 releases worldwide. Reservoir holds a regular Top 10 U.S. Market Share according to Billboard’s Publishers Quarterly, was twice named Publisher of the Year by Music Business Worldwide’s The A&R Awards, and won Independent Publisher of the Year at the 2020 Music Week Awards. Reservoir also represents a multitude of recorded music through Chrysalis Records, Tommy Boy Records, and Philly Groove Records and manages artists through its ventures with Blue Raincoat Music and Big Life Management.
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