Alps Advisors Inc. Has $5.48 Million Stake in Warner Music Group Corp. (NASDAQ:WMG)

Alps Advisors Inc. lifted its holdings in shares of Warner Music Group Corp. (NASDAQ:WMG - Free Report) by 14.9% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 174,773 shares of the company's stock after purchasing an additional 22,694 shares during the period. Alps Advisors Inc.'s holdings in Warner Music Group were worth $5,479,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Capital World Investors increased its position in Warner Music Group by 0.6% during the fourth quarter. Capital World Investors now owns 13,371,100 shares of the company's stock worth $414,504,000 after buying an additional 82,149 shares in the last quarter. JPMorgan Chase & Co. boosted its stake in shares of Warner Music Group by 27.9% during the 4th quarter. JPMorgan Chase & Co. now owns 11,199,012 shares of the company's stock worth $347,169,000 after buying an additional 2,444,508 shares during the last quarter. Darlington Partners Capital Management LP boosted its position in Warner Music Group by 16.9% in the fourth quarter. Darlington Partners Capital Management LP now owns 10,370,280 shares of the company's stock valued at $321,479,000 after buying an additional 1,500,000 shares in the last quarter. Barrow Hanley Mewhinney & Strauss LLC grew its holdings in shares of Warner Music Group by 43.5% during the fourth quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 7,920,342 shares of the company's stock valued at $245,531,000 after buying an additional 2,400,500 shares during the last quarter. Finally, Darsana Capital Partners LP increased its holdings in Warner Music Group by 7,206.3% during the 4th quarter. Darsana Capital Partners LP now owns 6,000,000 shares of the company's stock worth $186,000,000 after acquiring an additional 5,917,879 shares during the period. Hedge funds and other institutional investors own 96.88% of the company's stock.

Warner Music Group Stock Performance

NASDAQ WMG traded down $0.15 during trading hours on Tuesday, reaching $30.31. The stock had a trading volume of 2,172,329 shares, compared to its average volume of 1,767,779. The company has a debt-to-equity ratio of 5.43, a quick ratio of 0.64 and a current ratio of 0.66. The stock has a market cap of $15.80 billion, a P/E ratio of 34.84, a price-to-earnings-growth ratio of 1.13 and a beta of 1.24. The stock has a fifty day moving average of $27.38 and a 200 day moving average of $30.09. Warner Music Group Corp. has a 52-week low of $25.56 and a 52-week high of $36.64.

Warner Music Group (NASDAQ:WMG - Get Free Report) last released 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 during the quarter, compared to analyst estimates of $1.52 billion. Warner Music Group had a net margin of 7.14% and a return on equity of 64.64%. 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 earnings per share. Sell-side analysts predict that Warner Music Group Corp. will post 1.39 earnings per share for the current year.

Warner Music Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, June 3rd. Stockholders of record on Tuesday, May 27th were paid a $0.18 dividend. This represents a $0.72 annualized dividend and a dividend yield of 2.38%. The ex-dividend date of this dividend was Tuesday, May 27th. Warner Music Group's dividend payout ratio (DPR) is presently 82.76%.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on the stock. Guggenheim cut their price target on shares of Warner Music Group from $40.00 to $37.00 and set a "buy" rating on the stock in a report on Friday, May 9th. Sanford C. Bernstein upped their target price on Warner Music Group from $32.00 to $34.00 and gave the company an "outperform" rating in a report on Thursday, July 3rd. Citigroup restated a "buy" rating and issued a $34.00 target price (down from $35.00) on shares of Warner Music Group in a research note on Thursday, May 29th. Redburn Atlantic raised Warner Music Group from a "sell" rating to a "neutral" rating and set a $30.00 price objective on the stock in a report on Tuesday. Finally, Rothschild & Co Redburn upgraded Warner Music Group from a "sell" rating to a "neutral" rating and set a $30.00 price target on the stock in a report on Tuesday. Ten equities research analysts have rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, Warner Music Group presently has a consensus rating of "Moderate Buy" and an average price target of $33.72.

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.