Dynamic Technology Lab Private Ltd Increases Stake in Warner Music Group Corp. $WMG

Key Points

• Dynamic Technology Lab Private Ltd increased its stake in Warner Music Group Corp. by 77.1%, holding 27,229 shares worth $854,000 after purchasing an additional 11,851 shares.
• Warner Music Group's shares have seen a 3.1% increase, with the stock currently priced at $33.71 and a 12-month high of $36.64.
• The company recently announced a quarterly dividend of $0.19 per share, marking an increase from the previous quarter, with a payout ratio of 133.33%.

Dynamic Technology Lab Private Ltd grew its stake in Warner Music Group Corp. (NASDAQ:WMG - Free Report) by 77.1% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 27,229 shares of the company's stock after acquiring an additional 11,851 shares during the quarter. Dynamic Technology Lab Private Ltd's holdings in Warner Music Group were worth $854,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of WMG. Independent Franchise Partners LLP increased its stake in shares of Warner Music Group by 127.0% in the 1st quarter. Independent Franchise Partners LLP now owns 13,378,864 shares of the company's stock worth $419,427,000 after acquiring an additional 7,483,839 shares during the last quarter. JPMorgan Chase & Co. increased its position in shares of Warner Music Group by 36.6% during the 1st quarter. JPMorgan Chase & Co. now owns 15,296,700 shares of the company's stock worth $479,552,000 after purchasing an additional 4,097,688 shares during the last quarter. Barrow Hanley Mewhinney & Strauss LLC increased its position in shares of Warner Music Group by 43.5% during the 4th quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 7,920,342 shares of the company's stock worth $245,531,000 after purchasing an additional 2,400,500 shares during the last quarter. Vanguard Group Inc. increased its position in shares of Warner Music Group by 10.1% during the 1st quarter. Vanguard Group Inc. now owns 14,379,667 shares of the company's stock worth $450,803,000 after purchasing an additional 1,316,979 shares during the last quarter. Finally, BNP Paribas Financial Markets increased its position in shares of Warner Music Group by 2,198.4% during the 1st quarter. BNP Paribas Financial Markets now owns 999,613 shares of the company's stock worth $31,338,000 after purchasing an additional 956,121 shares during the last quarter. 96.88% of the stock is owned by institutional investors and hedge funds.

Warner Music Group Trading Down 1.8%

NASDAQ WMG traded down $0.62 during trading on Friday, hitting $33.62. The stock had a trading volume of 1,572,121 shares, compared to its average volume of 1,700,148. The company has a market capitalization of $17.53 billion, a PE ratio of 58.98, a PEG ratio of 1.66 and a beta of 1.31. The company has a quick ratio of 0.64, a current ratio of 0.66 and a debt-to-equity ratio of 5.37. The firm has a 50 day moving average price of $31.71 and a 200 day moving average price of $30.04. Warner Music Group Corp. has a twelve month low of $25.56 and a twelve month high of $36.64.

Warner Music Group (NASDAQ:WMG - Get Free Report) last released its earnings results on Thursday, August 7th. The company reported ($0.03) earnings per share for the quarter, missing the consensus estimate of $0.27 by ($0.30). The firm had revenue of $1.69 billion during the quarter, compared to analyst estimates of $1.59 billion. Warner Music Group had a net margin of 4.59% and a return on equity of 39.95%. The business's revenue was up 8.7% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.27 earnings per share. As a group, equities research analysts forecast that Warner Music Group Corp. will post 1.39 earnings per share for the current year.

Warner Music Group Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, September 3rd. Stockholders of record on Wednesday, August 20th were paid a $0.19 dividend. This represents a $0.76 annualized dividend and a dividend yield of 2.3%. The ex-dividend date was Wednesday, August 20th. This is a boost from Warner Music Group's previous quarterly dividend of $0.18. Warner Music Group's dividend payout ratio (DPR) is 133.33%.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on WMG. The Goldman Sachs Group raised their price objective on Warner Music Group from $28.00 to $31.00 and gave the stock a "neutral" rating in a research report on Tuesday, August 12th. JPMorgan Chase & Co. raised their price objective on Warner Music Group from $32.00 to $33.00 and gave the stock an "overweight" rating in a research report on Monday, July 7th. Wells Fargo & Company raised their price objective on Warner Music Group from $30.00 to $34.00 and gave the stock an "equal weight" rating in a research report on Friday, August 8th. Redburn Atlantic raised Warner Music Group from a "strong sell" rating to a "hold" rating and set a $30.00 price objective for the company in a research report on Tuesday, July 15th. Finally, Cowen reaffirmed a "buy" rating on shares of Warner Music Group in a research report on Thursday, August 7th. One research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and ten have issued a Hold rating to the company's stock. According to MarketBeat.com, Warner Music Group has a consensus rating of "Moderate Buy" and a consensus price target of $34.65.

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.