Candriam S.C.A. Increases Stock Position in Warner Music Group Corp. $WMG

Candriam S.C.A. boosted its position in shares of Warner Music Group Corp. (NASDAQ:WMG - Free Report) by 201.2% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The firm owned 544,520 shares of the company's stock after buying an additional 363,727 shares during the quarter. Candriam S.C.A. owned approximately 0.10% of Warner Music Group worth $13,907,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Caitong International Asset Management Co. Ltd raised its position in shares of Warner Music Group by 774.6% in the third quarter. Caitong International Asset Management Co. Ltd now owns 1,207 shares of the company's stock worth $41,000 after acquiring an additional 1,069 shares during the period. Quarry LP acquired a new stake in shares of Warner Music Group during the 4th quarter valued at about $40,000. Osaic Holdings Inc. grew its position in shares of Warner Music Group by 480.9% during the 2nd quarter. Osaic Holdings Inc. now owns 1,493 shares of the company's stock valued at $41,000 after acquiring an additional 1,236 shares during the period. Parallel Advisors LLC increased its stake in shares of Warner Music Group by 355.7% in the 4th quarter. Parallel Advisors LLC now owns 1,531 shares of the company's stock valued at $47,000 after purchasing an additional 1,195 shares in the last quarter. Finally, US Bancorp DE increased its stake in shares of Warner Music Group by 23.5% in the 3rd quarter. US Bancorp DE now owns 1,729 shares of the company's stock valued at $59,000 after purchasing an additional 329 shares in the last quarter. Hedge funds and other institutional investors own 96.88% of the company's stock.

Wall Street Analyst Weigh In

WMG has been the subject of a number of analyst reports. Zacks Research downgraded Warner Music Group from a "strong-buy" rating to a "hold" rating in a research report on Monday, June 22nd. Morgan Stanley set a $39.00 price objective on Warner Music Group in a research report on Friday, May 8th. Weiss Ratings reaffirmed a "hold (c)" rating on shares of Warner Music Group in a research note on Wednesday, June 24th. Evercore reaffirmed an "outperform" rating and set a $43.00 target price on shares of Warner Music Group in a research note on Friday, May 8th. Finally, UBS Group increased their target price on Warner Music Group from $40.00 to $42.00 and gave the company a "buy" rating in a research report on Friday, May 8th. Fourteen equities research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $37.87.

Warner Music Group Price Performance

NASDAQ WMG opened at $28.99 on Monday. The business has a fifty day moving average price of $30.20 and a 200 day moving average price of $29.13. Warner Music Group Corp. has a one year low of $23.34 and a one year high of $35.42. The company has a debt-to-equity ratio of 5.62, a quick ratio of 0.71 and a current ratio of 0.73. The company has a market cap of $15.12 billion, a P/E ratio of 34.11, a P/E/G ratio of 0.43 and a beta of 1.30.

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

Warner Music Group Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, June 2nd. Stockholders of record on Tuesday, May 26th were given a $0.19 dividend. This represents a $0.76 dividend on an annualized basis and a dividend yield of 2.6%. The ex-dividend date was Tuesday, May 26th. Warner Music Group's dividend payout ratio is 89.41%.

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.

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