Fairview Capital Investment Management LLC Grows Stock Holdings in Warner Music Group Corp. (NASDAQ:WMG)

Fairview Capital Investment Management LLC boosted its stake in shares of Warner Music Group Corp. (NASDAQ:WMG - Free Report) by 2.1% during the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 1,850,945 shares of the company's stock after purchasing an additional 37,955 shares during the period. Warner Music Group comprises approximately 3.0% of Fairview Capital Investment Management LLC's holdings, making the stock its 9th largest position. Fairview Capital Investment Management LLC owned approximately 0.36% of Warner Music Group worth $57,379,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. JPMorgan Chase & Co. boosted its stake in shares of Warner Music Group by 37.1% during the 3rd quarter. JPMorgan Chase & Co. now owns 8,754,504 shares of the company's stock worth $274,016,000 after acquiring an additional 2,370,973 shares in the last quarter. Assetmark Inc. boosted its stake in shares of Warner Music Group by 7,659.8% during the 4th quarter. Assetmark Inc. now owns 95,833 shares of the company's stock worth $2,971,000 after acquiring an additional 94,598 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its stake in shares of Warner Music Group by 5.4% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 953,549 shares of the company's stock worth $29,560,000 after acquiring an additional 48,772 shares in the last quarter. Exchange Traded Concepts LLC boosted its stake in shares of Warner Music Group by 84.8% during the 4th quarter. Exchange Traded Concepts LLC now owns 31,616 shares of the company's stock worth $980,000 after acquiring an additional 14,507 shares in the last quarter. Finally, Dimensional Fund Advisors LP boosted its stake in shares of Warner Music Group by 1.9% during the 4th quarter. Dimensional Fund Advisors LP now owns 744,349 shares of the company's stock worth $23,074,000 after acquiring an additional 14,149 shares in the last quarter. 96.88% of the stock is owned by hedge funds and other institutional investors.

Warner Music Group Stock Down 1.0%

WMG traded down $0.27 during trading hours on Wednesday, hitting $27.21. 659,526 shares of the company's stock were exchanged, compared to its average volume of 1,932,283. Warner Music Group Corp. has a 1-year low of $26.34 and a 1-year high of $36.64. The stock's 50-day moving average is $30.45 and its two-hundred day moving average is $31.61. The stock has a market cap of $14.16 billion, a price-to-earnings ratio of 27.77, a PEG ratio of 1.03 and a beta of 1.32. The company has a quick ratio of 0.67, a current ratio of 0.69 and a debt-to-equity ratio of 5.67.

Warner Music Group (NASDAQ:WMG - Get Free Report) last announced its earnings results on Thursday, May 8th. The company reported $0.07 EPS for the quarter, missing the consensus estimate of $0.28 by ($0.21). The business had revenue of $1.48 billion for the quarter, compared to analyst estimates of $1.52 billion. Warner Music Group had a return on equity of 79.01% and a net margin of 8.07%. The business's revenue for the quarter was down .7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.18 EPS. Sell-side analysts predict that Warner Music Group Corp. will post 1.39 earnings per share for the current fiscal year.

Warner Music Group Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, March 4th. Investors of record on Monday, February 24th were issued a dividend of $0.18 per share. This represents a $0.72 dividend on an annualized basis and a yield of 2.65%. The ex-dividend date of this dividend was Monday, February 24th. Warner Music Group's payout ratio is currently 82.76%.

Insider Buying and Selling

In related news, Director Valentin Blavatnik sold 28,230 shares of the firm's stock in a transaction dated Thursday, February 20th. The shares were sold at an average price of $35.45, for a total transaction of $1,000,753.50. Following the transaction, the director now directly owns 68,264 shares of the company's stock, valued at approximately $2,419,958.80. This trade represents a 29.26% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Timothy Matusch sold 1,000 shares of Warner Music Group stock in a transaction that occurred on Wednesday, April 2nd. The shares were 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 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. Over the last 90 days, insiders sold 30,333 shares of company stock worth $1,072,432. Company insiders own 72.21% of the company's stock.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on WMG. FBN Securities began coverage on shares of Warner Music Group in a report on Friday, March 28th. They set a "sector perform" rating and a $35.00 price objective for the company. The Goldman Sachs Group downgraded shares of Warner Music Group from a "buy" rating to a "neutral" rating and reduced their price objective for the stock from $35.00 to $28.00 in a report on Monday. Barclays reduced their price objective on shares of Warner Music Group from $31.00 to $28.00 and set an "equal weight" rating for the company in a report on Friday, May 9th. Guggenheim reduced their price objective on shares of Warner Music Group from $40.00 to $37.00 and set a "buy" rating for the company in a report on Friday, May 9th. Finally, Macquarie reiterated a "neutral" rating and set a $30.00 target price on shares of Warner Music Group in a research report on Thursday, January 30th. Two analysts have rated the stock with a sell rating, seven have given a hold rating and nine have given a buy rating to the stock. According to MarketBeat, the company presently has an average rating of "Hold" and an average target price of $34.50.

Warner Music Group Profile

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.