Warner Music Group Corp. (NASDAQ:WMG) Shares Sold by Envestnet Asset Management Inc.

Envestnet Asset Management Inc. decreased its holdings in shares of Warner Music Group Corp. (NASDAQ:WMG - Free Report) by 7.8% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 294,999 shares of the company's stock after selling 24,877 shares during the period. Envestnet Asset Management Inc. owned 0.06% of Warner Music Group worth $9,248,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of WMG. Principal Financial Group Inc. grew its holdings in shares of Warner Music Group by 2.9% during the 1st quarter. Principal Financial Group Inc. now owns 326,449 shares of the company's stock worth $10,234,000 after acquiring an additional 9,103 shares during the period. GAMMA Investing LLC grew its stake in shares of Warner Music Group by 5,272.3% in the 1st quarter. GAMMA Investing LLC now owns 95,304 shares of the company's stock worth $3,040,000 after buying an additional 93,530 shares during the last quarter. DigitalBridge Group Inc. grew its stake in shares of Warner Music Group by 29.7% in the 4th quarter. DigitalBridge Group Inc. now owns 896,445 shares of the company's stock worth $27,790,000 after buying an additional 205,529 shares during the last quarter. Exchange Traded Concepts LLC grew its stake in shares of Warner Music Group by 88.0% in the 1st quarter. Exchange Traded Concepts LLC now owns 59,437 shares of the company's stock worth $1,863,000 after buying an additional 27,821 shares during the last quarter. Finally, Barrow Hanley Mewhinney & Strauss LLC grew its stake in shares of Warner Music Group by 43.5% in the 4th quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 7,920,342 shares of the company's stock worth $245,531,000 after buying an additional 2,400,500 shares during the last quarter. Institutional investors own 96.88% of the company's stock.

Warner Music Group Trading Down 1.0%

Shares of Warner Music Group stock traded down $0.33 on Friday, hitting $31.15. 1,392,994 shares of the company traded hands, compared to its average volume of 1,675,092. The stock's 50 day moving average price is $27.93 and its 200-day moving average price is $30.11. The company has a current ratio of 0.66, a quick ratio of 0.64 and a debt-to-equity ratio of 5.43. Warner Music Group Corp. has a 52 week low of $25.56 and a 52 week high of $36.64. The company has a market cap of $16.24 billion, a PE ratio of 35.80, a PEG ratio of 1.19 and a beta of 1.24.

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

Warner Music Group Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, June 3rd. Shareholders of record on Tuesday, May 27th were issued a $0.18 dividend. This represents a $0.72 annualized dividend and a yield of 2.31%. The ex-dividend date was Tuesday, May 27th. Warner Music Group's dividend payout ratio is currently 82.76%.

Analysts Set New Price Targets

WMG has been the topic of several recent research reports. The Goldman Sachs Group downgraded Warner Music Group from a "buy" rating to a "neutral" rating and cut their price target for the stock from $35.00 to $28.00 in a research note on Monday, May 12th. Citigroup restated a "buy" rating and issued a $34.00 price target (down previously from $35.00) on shares of Warner Music Group in a research note on Thursday, May 29th. UBS Group cut their price target on Warner Music Group from $41.00 to $38.00 and set a "buy" rating on the stock in a research note on Friday, May 9th. Sanford C. Bernstein upped their price target on Warner Music Group from $32.00 to $34.00 and gave the stock an "outperform" rating in a research note on Thursday, July 3rd. Finally, Rothschild & Co Redburn upgraded Warner Music Group from a "sell" rating to a "neutral" rating and set a $30.00 target price on the stock in a research note on Tuesday, July 15th. Ten research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $33.72.

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.