113,908 Shares in Warner Music Group Corp. $WMG Purchased by Intech Investment Management LLC

Key Points

• Intech Investment Management LLC opened a new position in Warner Music Group, buying 113,908 shares valued at about $3.49 million in the fourth quarter.
• Warner Music Group reported strong quarterly results, posting $0.44 EPS versus $0.30 expected and revenue of $1.73 billion, which was up 16.7% year over year.
• The company also announced a quarterly dividend of $0.19 per share, while analysts remain broadly positive with a consensus rating of Moderate Buy and an average price target of $37.38.

Intech Investment Management LLC purchased a new position in Warner Music Group Corp. (NASDAQ:WMG - Free Report) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm purchased 113,908 shares of the company's stock, valued at approximately $3,494,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in WMG. Royal Bank of Canada grew its position in Warner Music Group by 10.2% in the first quarter. Royal Bank of Canada now owns 77,162 shares of the company's stock worth $2,420,000 after acquiring an additional 7,119 shares in the last quarter. Amundi raised its stake in Warner Music Group by 120.7% in the first quarter. Amundi now owns 7,496 shares of the company's stock worth $232,000 after buying an additional 4,100 shares in the last quarter. Goldman Sachs Group Inc. raised its stake in Warner Music Group by 5.6% in the first quarter. Goldman Sachs Group Inc. now owns 948,741 shares of the company's stock worth $29,743,000 after buying an additional 50,035 shares in the last quarter. Invesco Ltd. raised its stake in Warner Music Group by 23.2% in the second quarter. Invesco Ltd. now owns 193,434 shares of the company's stock worth $5,269,000 after buying an additional 36,380 shares in the last quarter. Finally, AQR Capital Management LLC raised its stake in Warner Music Group by 293.4% in the second quarter. AQR Capital Management LLC now owns 638,144 shares of the company's stock worth $17,287,000 after buying an additional 475,929 shares in the last quarter. Hedge funds and other institutional investors own 96.88% of the company's stock.

Warner Music Group Price Performance

Shares of WMG opened at $31.13 on Tuesday. The firm has a market capitalization of $16.24 billion, a PE ratio of 36.62, a price-to-earnings-growth ratio of 0.46 and a beta of 1.27. The company has a debt-to-equity ratio of 5.62, a current ratio of 0.73 and a quick ratio of 0.71. Warner Music Group Corp. has a 1-year low of $23.34 and a 1-year high of $35.42. The company's fifty day moving average price is $29.48 and its 200-day moving average price is $29.22.

Warner Music Group (NASDAQ:WMG - Get Free Report) last posted its quarterly earnings results on Thursday, May 7th. The company reported $0.44 EPS for the quarter, beating the consensus estimate of $0.30 by $0.14. Warner Music Group had a net margin of 6.34% and a return on equity of 62.01%. The company had revenue of $1.73 billion for the quarter, compared to analyst estimates of $1.61 billion. During the same period in the prior year, the company earned $0.07 earnings per share. The firm's revenue was up 16.7% on a year-over-year basis. On average, equities research analysts predict that Warner Music Group Corp. will post 1.52 EPS for the current year.

Warner Music Group Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, June 2nd. Shareholders of record on Tuesday, May 26th will be issued a $0.19 dividend. This represents a $0.76 annualized dividend and a yield of 2.4%. The ex-dividend date of this dividend is Tuesday, May 26th. Warner Music Group's dividend payout ratio is presently 89.41%.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on WMG shares. UBS Group upped their price target on Warner Music Group from $40.00 to $42.00 and gave the stock a "buy" rating in a research report on Friday, May 8th. Guggenheim upped their price target on Warner Music Group from $34.00 to $36.00 and gave the stock a "buy" rating in a research report on Friday, May 8th. Scotiabank raised Warner Music Group from a "sector perform" rating to a "sector outperform" rating in a research report on Friday, February 13th. Evercore reaffirmed an "outperform" rating and set a $43.00 price target on shares of Warner Music Group in a research report on Friday, May 8th. Finally, Sanford C. Bernstein reaffirmed an "outperform" rating on shares of Warner Music Group in a research report on Friday, May 8th. One investment analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and five have issued a Hold rating to the stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $37.38.

Warner Music Group Company Profile

Warner Music Group is a major global music company that operates across recorded music and music publishing. Its recorded-music business comprises a portfolio of well-known labels—including Atlantic, Warner Records and Parlophone—as well as distribution and artist-services operations that support both established and emerging artists. The company's publishing arm, Warner Chappell Music, manages songwriting catalogs and administers rights for compositions across multiple media, providing licensing for film, television, advertising and other commercial uses.

WMG's activities span the full music value chain: signing and developing artists, producing and marketing recordings, distributing music through physical channels and streaming platforms, and monetizing rights through licensing, synchronization and neighboring-rights collection.

Want to see what other hedge funds are holding WMG? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Warner Music Group Corp. (NASDAQ:WMG - Free Report).

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.