DigitalBridge Group Inc. Acquires 205,529 Shares of Warner Music Group Corp. (NASDAQ:WMG)

DigitalBridge Group Inc. increased its holdings in Warner Music Group Corp. (NASDAQ:WMG - Free Report) by 29.7% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 896,445 shares of the company's stock after acquiring an additional 205,529 shares during the quarter. Warner Music Group comprises approximately 2.0% of DigitalBridge Group Inc.'s portfolio, making the stock its 18th biggest position. DigitalBridge Group Inc. owned 0.17% of Warner Music Group worth $27,790,000 as of its most recent SEC filing.

Several other large investors have also added to or reduced their stakes in WMG. Itau Unibanco Holding S.A. lifted its position in shares of Warner Music Group by 122.6% in the 4th quarter. Itau Unibanco Holding S.A. now owns 1,064 shares of the company's stock worth $33,000 after purchasing an additional 586 shares during the period. SBI Securities Co. Ltd. purchased a new stake in Warner Music Group in the fourth quarter worth about $35,000. Aster Capital Management DIFC Ltd bought a new stake in Warner Music Group during the 4th quarter valued at approximately $43,000. GAMMA Investing LLC grew its holdings in shares of Warner Music Group by 379.5% during the 4th quarter. GAMMA Investing LLC now owns 1,774 shares of the company's stock worth $55,000 after acquiring an additional 1,404 shares during the period. Finally, Rosenberg Matthew Hamilton lifted its stake in shares of Warner Music Group by 14.0% in the 4th 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 period. Institutional investors own 96.88% of the company's stock.

Insider Activity

In other Warner Music Group news, Director Valentin Blavatnik sold 28,230 shares of the company's stock in a transaction that occurred on 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 represents a 29.26 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Timothy Matusch sold 1,000 shares of the stock in a transaction on 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 sale, the executive vice president now directly owns 87,649 shares of the company's stock, valued at approximately $2,754,808.07. This trade represents a 1.13 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 30,333 shares of company stock valued at $1,072,432 in the last 90 days. Company insiders own 72.21% of the company's stock.

Warner Music Group Stock Performance

WMG stock opened at $30.60 on Wednesday. The company has a market cap of $15.92 billion, a P/E ratio of 31.22, a price-to-earnings-growth ratio of 1.03 and a beta of 1.32. The company has a debt-to-equity ratio of 5.67, a current ratio of 0.69 and a quick ratio of 0.67. Warner Music Group Corp. has a 1 year low of $27.06 and a 1 year high of $36.64. The stock's fifty day moving average price is $31.00 and its 200-day moving average price is $31.75.

Warner Music Group (NASDAQ:WMG - Get Free Report) last released its quarterly earnings results on Thursday, February 6th. The company reported $0.45 EPS for the quarter, beating the consensus estimate 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, equities analysts forecast that Warner Music Group Corp. will post 1.39 earnings per share for the current year.

Warner Music Group Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, March 4th. Stockholders of record on Monday, February 24th were paid a dividend of $0.18 per share. This represents a $0.72 annualized dividend and a dividend yield of 2.35%. The ex-dividend date of this dividend was Monday, February 24th. Warner Music Group's dividend payout ratio is presently 73.47%.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on the company. Evercore ISI decreased their price objective on Warner Music Group from $36.00 to $35.00 and set an "outperform" rating for the company in a report on Thursday, January 9th. UBS Group lowered their price objective on Warner Music Group from $43.00 to $41.00 and set a "buy" rating for the company in a research note on Friday, January 10th. Citigroup raised Warner Music Group from a "neutral" rating to a "buy" rating and increased their target price for the stock from $34.00 to $42.00 in a research note on Friday, February 14th. Morgan Stanley reaffirmed an "equal weight" rating and issued a $32.00 price target (down previously from $37.00) on shares of Warner Music Group in a research report on Monday, April 21st. Finally, Guggenheim reissued a "buy" rating and set a $40.00 price objective on shares of Warner Music Group in a research report on Friday, February 7th. Two 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 has a consensus rating of "Hold" and a consensus price target of $35.47.

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.

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