Warner Music Group Corp. (WMG) - What Are Brokerages Saying About This Stock?

Key Points

• Analyst sentiment is broadly positive: Sixteen firms give Warner Music Group a “Moderate Buy” consensus rating—11 buys, one strong buy and four holds—with an average 1-year price target of $38.30.
• Recent rating changes included UBS raising its target to $43 and maintaining a buy rating, while Stonex upgraded the stock to strong buy; Zacks moved its rating from strong sell to hold.
• Institutional investors own 96.88% of the stock. Shares opened at $31.79, within a 1-year range of $23.34 to $35.42.

Shares of Warner Music Group Corp. (NASDAQ:WMG - Get Free Report) have been given a consensus rating of "Moderate Buy" by the sixteen research firms that are covering the firm, MarketBeat Ratings reports. Four equities research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has issued a strong buy rating on the company. The average 1-year price target among analysts that have issued ratings on the stock in the last year is $38.30.

A number of research firms have commented on WMG. UBS Group raised their target price on Warner Music Group from $42.00 to $43.00 and gave the company a "buy" rating in a report on Thursday, October 1st. Stonex Financial raised shares of Warner Music Group to a "strong-buy" rating in a research note on Wednesday, October 14th. Morgan Stanley reiterated an "overweight" rating and issued a $36.00 price target on shares of Warner Music Group in a report on Thursday, August 6th. Zacks Research upgraded shares of Warner Music Group from a "strong sell" rating to a "hold" rating in a research note on Friday, October 30th. Finally, Weiss Ratings raised shares of Warner Music Group from a "hold (c-)" rating to a "hold (c)" rating in a report on Friday, October 16th.

Institutional Investors Weigh In On Warner Music Group

A number of hedge funds and other institutional investors have recently modified their holdings of WMG. Bank of America Corp DE raised its position in Warner Music Group by 42.2% during the first quarter. Bank of America Corp DE now owns 574,242 shares of the company's stock worth $14,666,000 after acquiring an additional 170,316 shares during the last quarter. Corient Private Wealth LP acquired a new stake in shares of Warner Music Group in the second quarter valued at approximately $6,199,000. Darsana Capital Partners LP grew its position in shares of Warner Music Group by 0.8% in the second quarter. Darsana Capital Partners LP now owns 11,943,199 shares of the company's stock valued at $323,302,000 after purchasing an additional 93,199 shares during the last quarter. Tidal Investments LLC grew its position in shares of Warner Music Group by 1,072.2% in the second quarter. Tidal Investments LLC now owns 580,609 shares of the company's stock valued at $15,717,000 after purchasing an additional 531,077 shares during the last quarter. Finally, Assenagon Asset Management S.A. purchased a new position in shares of Warner Music Group during the 2nd quarter worth approximately $7,217,000. 96.88% of the stock is currently owned by institutional investors and hedge funds.

Warner Music Group Stock Up 1.6%

Warner Music Group stock opened at $31.79 on Tuesday. The stock's 50 day moving average price is $29.15 and its 200 day moving average price is $28.63. Warner Music Group has a 1-year low of $23.34 and a 1-year high of $35.42. The company has a market cap of $16.63 billion, a PE ratio of 25.23, a price-to-earnings-growth ratio of 0.45 and a beta of 1.34. The company has a debt-to-equity ratio of 4.94, a current ratio of 0.73 and a quick ratio of 0.72.

About Warner Music Group

Warner Music Group is a global music entertainment company with two main businesses: recorded music and music publishing. Its recorded music operations discover and develop artists, release and market recordings, and distribute music through digital services and physical formats. The company works with artists across a range of genres and career stages.

Through its recorded music labels, including Atlantic Records, Warner Records and Elektra Records, Warner Music Group supports artists with services such as artist development, marketing and distribution.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.