Boothbay Fund Management LLC Purchases 59,268 Shares of Warner Music Group Corp. (NASDAQ:WMG)

Boothbay Fund Management LLC increased its stake in shares of Warner Music Group Corp. (NASDAQ:WMG - Free Report) by 28.3% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 269,042 shares of the company's stock after acquiring an additional 59,268 shares during the period. Boothbay Fund Management LLC owned about 0.05% of Warner Music Group worth $8,340,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Patriot Financial Group Insurance Agency LLC raised its stake in Warner Music Group by 3.4% in the fourth quarter. Patriot Financial Group Insurance Agency LLC now owns 12,269 shares of the company's stock valued at $380,000 after buying an additional 408 shares during the period. Keystone Financial Services grew its position in shares of Warner Music Group by 4.4% in the fourth quarter. Keystone Financial Services now owns 10,336 shares of the company's stock valued at $320,000 after purchasing an additional 432 shares during the last quarter. Rosenberg Matthew Hamilton grew its position in shares of Warner Music Group by 14.0% in the fourth quarter. Rosenberg Matthew Hamilton now owns 3,705 shares of the company's stock valued at $115,000 after purchasing an additional 455 shares during the last quarter. Fifth Third Bancorp grew its position in shares of Warner Music Group by 13.1% in the fourth quarter. Fifth Third Bancorp now owns 3,967 shares of the company's stock valued at $123,000 after purchasing an additional 458 shares during the last quarter. Finally, Capital International Ltd. CA grew its position in Warner Music Group by 0.4% during the fourth quarter. Capital International Ltd. CA now owns 117,095 shares of the company's stock worth $3,630,000 after buying an additional 479 shares in the last quarter. 96.88% of the stock is currently owned by institutional investors and hedge funds.

Warner Music Group Price Performance

Warner Music Group stock traded down $0.44 during midday trading on Thursday, reaching $30.02. 295,496 shares of the stock were exchanged, compared to its average volume of 1,944,385. The company's fifty day moving average is $31.34 and its 200-day moving average is $31.79. The company has a debt-to-equity ratio of 5.67, a quick ratio of 0.67 and a current ratio of 0.69. The firm has a market cap of $15.62 billion, a PE ratio of 30.64, a PEG ratio of 1.03 and a beta of 1.32. Warner Music Group Corp. has a 52 week low of $27.06 and a 52 week high of $36.64.

Warner Music Group (NASDAQ:WMG - Get Free Report) last issued its quarterly earnings results on Thursday, February 6th. The company reported $0.45 EPS for the quarter, topping analysts' consensus estimates of $0.34 by $0.11. Warner Music Group had a net margin of 8.07% and a return on equity of 79.01%. On average, sell-side analysts forecast that Warner Music Group Corp. will post 1.39 EPS for the current year.

Warner Music Group Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, March 4th. Stockholders of record on Monday, February 24th were given a $0.18 dividend. The ex-dividend date of this dividend was Monday, February 24th. This represents a $0.72 annualized dividend and a dividend yield of 2.40%. Warner Music Group's dividend payout ratio is 73.47%.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on WMG. FBN Securities initiated coverage on Warner Music Group in a report on Friday, March 28th. They issued a "sector perform" rating and a $35.00 target price on the stock. Macquarie reiterated a "neutral" rating and issued a $30.00 target price on shares of Warner Music Group in a report on Thursday, January 30th. Morgan Stanley reiterated an "equal weight" rating and issued a $32.00 target price (down from $37.00) on shares of Warner Music Group in a report on Monday, April 21st. Guggenheim restated a "buy" rating and set a $40.00 price target on shares of Warner Music Group in a report on Friday, February 7th. Finally, Citigroup upgraded Warner Music Group from a "neutral" rating to a "buy" rating and increased their price target for the stock from $34.00 to $42.00 in a report on Friday, February 14th. Two equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and nine have given a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of "Hold" and an average price target of $35.47.

Insider Transactions at Warner Music Group

In related news, Director Valentin Blavatnik sold 28,230 shares of the stock in a transaction dated Thursday, February 20th. The shares were sold at an average price of $35.45, for a total value of $1,000,753.50. Following the completion of the transaction, the director now directly owns 68,264 shares in the company, valued at $2,419,958.80. This trade represents a 29.26 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Timothy Matusch sold 1,000 shares of the stock in a transaction dated Wednesday, April 2nd. The stock was sold at an average price of $31.43, for a total transaction of $31,430.00. Following the completion of the transaction, the executive vice president now owns 87,649 shares of the company's stock, valued at approximately $2,754,808.07. The trade was a 1.13 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 30,333 shares of company stock valued at $1,072,432. Company insiders own 72.21% of the company's stock.

About Warner Music Group

Warner Music Group Corp. operates as a music entertainment company in the United States, the United Kingdom, Germany, and internationally. It operates through Recorded Music and Music Publishing segments. The Recorded Music segment is involved in the discovery and development of recording artists, as well as related marketing, promotion, distribution, sale, and licensing of music created by such recording artists; markets its music catalog through compilations and reissuances of previously released music and video titles, as well as previously unreleased materials; and conducts its operation primarily through a collection of record labels, such as Warner Records and Atlantic Records, as well as Asylum, Big Beat, Canvasback, East West, Erato, FFRR, Fueled by Ramen, Nonesuch, Parlophone, Reprise, Roadrunner, Sire, Spinnin' Records, Warner Classics, and Warner Music Nashville.