DekaBank Deutsche Girozentrale Purchases 14,000 Shares of Warner Music Group Corp. (NASDAQ:WMG)

DekaBank Deutsche Girozentrale raised its position in shares of Warner Music Group Corp. (NASDAQ:WMG - Free Report) by 25.6% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 68,712 shares of the company's stock after purchasing an additional 14,000 shares during the period. DekaBank Deutsche Girozentrale's holdings in Warner Music Group were worth $2,153,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in WMG. Itau Unibanco Holding S.A. grew its stake in shares of Warner Music Group by 122.6% in the fourth 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 last quarter. Aster Capital Management DIFC Ltd purchased a new stake in Warner Music Group in the fourth quarter worth about $43,000. UMB Bank n.a. increased its stake in shares of Warner Music Group by 101.5% during the first quarter. UMB Bank n.a. now owns 1,453 shares of the company's stock valued at $46,000 after purchasing an additional 732 shares in the last quarter. State of Wyoming bought a new position in shares of Warner Music Group during the fourth quarter valued at approximately $47,000. Finally, GAMMA Investing LLC increased its stake in shares of Warner Music Group by 71.4% during the first quarter. GAMMA Investing LLC now owns 3,040 shares of the company's stock valued at $95,000 after purchasing an additional 1,266 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 stock opened at $29.77 on Monday. The company has a debt-to-equity ratio of 5.43, a current ratio of 0.66 and a quick ratio of 0.64. The company has a market capitalization of $15.52 billion, a P/E ratio of 34.22, a P/E/G ratio of 1.13 and a beta of 1.24. The company's 50-day simple moving average is $27.38 and its two-hundred day simple moving average is $30.09. Warner Music Group Corp. has a one year low of $25.56 and a one year high of $36.64.

Warner Music Group (NASDAQ:WMG - Get Free Report) last issued its earnings results on Thursday, May 8th. The company reported $0.07 EPS for the quarter, missing analysts' consensus estimates of $0.28 by ($0.21). The company had revenue of $1.48 billion during the quarter, compared to the consensus estimate of $1.52 billion. Warner Music Group had a return on equity of 64.64% and a net margin of 7.14%. Warner Music Group's revenue was down .7% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.18 earnings per share. As a group, equities analysts anticipate that Warner Music Group Corp. will post 1.39 EPS for the current year.

Warner Music Group Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, June 3rd. Shareholders of record on Tuesday, May 27th were paid a $0.18 dividend. The ex-dividend date of this dividend was Tuesday, May 27th. This represents a $0.72 dividend on an annualized basis and a yield of 2.42%. Warner Music Group's dividend payout ratio is currently 82.76%.

Analyst Ratings Changes

WMG has been the subject of several analyst reports. Sanford C. Bernstein raised their price target on shares of Warner Music Group from $32.00 to $34.00 and gave the company an "outperform" rating in a research report on Thursday, July 3rd. FBN Securities assumed coverage on shares of Warner Music Group in a research report on Friday, March 28th. They set a "sector perform" rating and a $35.00 price objective for the company. Citigroup reaffirmed a "buy" rating and issued a $34.00 target price (down previously from $35.00) on shares of Warner Music Group in a report on Thursday, May 29th. Morgan Stanley decreased their price target on shares of Warner Music Group from $32.00 to $31.00 and set an "equal weight" rating on the stock in a research note on Friday, May 9th. Finally, JPMorgan Chase & Co. boosted their price target on shares of Warner Music Group from $32.00 to $33.00 and gave the stock an "overweight" rating in a research note on Monday, July 7th. Eight equities research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $34.19.

Warner Music Group Company 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.

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