Exchange Traded Concepts LLC Has $1.86 Million Position in Warner Music Group Corp. (NASDAQ:WMG)

Exchange Traded Concepts LLC lifted its position in Warner Music Group Corp. (NASDAQ:WMG - Free Report) by 88.0% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 59,437 shares of the company's stock after acquiring an additional 27,821 shares during the period. Exchange Traded Concepts LLC's holdings in Warner Music Group were worth $1,863,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Assetmark Inc. raised its holdings in Warner Music Group by 7,659.8% in the fourth quarter. Assetmark Inc. now owns 95,833 shares of the company's stock worth $2,971,000 after purchasing an additional 94,598 shares during the period. Charles Schwab Investment Management Inc. raised its stake in Warner Music Group by 5.4% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 953,549 shares of the company's stock worth $29,560,000 after buying an additional 48,772 shares during the period. GAMMA Investing LLC raised its stake in Warner Music Group by 5,272.3% during 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 period. DigitalBridge Group Inc. raised its stake in Warner Music Group by 29.7% during 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 period. Finally, Barrow Hanley Mewhinney & Strauss LLC raised its stake in 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 buying an additional 2,400,500 shares during the period. 96.88% of the stock is currently owned by institutional investors and hedge funds.

Warner Music Group Stock Performance

Shares of Warner Music Group stock traded up $0.13 during trading on Friday, hitting $26.47. 1,664,051 shares of the stock were exchanged, compared to its average volume of 1,775,446. The stock has a market capitalization of $13.80 billion, a price-to-earnings ratio of 30.43, a price-to-earnings-growth ratio of 1.09 and a beta of 1.25. The company has a fifty day moving average price of $27.67 and a 200-day moving average price of $30.46. Warner Music Group Corp. has a 1-year low of $25.56 and a 1-year high of $36.64. 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 (NASDAQ:WMG - Get Free Report) last posted its earnings results on Thursday, May 8th. The company reported $0.07 earnings per share for the quarter, missing analysts' consensus estimates of $0.28 by ($0.21). Warner Music Group had a return on equity of 64.64% and a net margin of 7.14%. The business had revenue of $1.48 billion for the quarter, compared to analyst estimates of $1.52 billion. During the same period in the previous year, the firm posted $0.18 earnings per share. The firm's revenue was down .7% compared to the same quarter last year. As a group, equities analysts predict that Warner Music Group Corp. will post 1.39 EPS for the current fiscal year.

Warner Music Group Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, June 3rd. Shareholders of record on Tuesday, May 27th were issued a $0.18 dividend. The ex-dividend date was Tuesday, May 27th. This represents a $0.72 annualized dividend and a dividend yield of 2.72%. Warner Music Group's dividend payout ratio is currently 82.76%.

Insider Activity at Warner Music Group

In other Warner Music Group news, EVP Timothy Matusch sold 1,000 shares of the company's stock in a transaction on Wednesday, April 2nd. The stock was sold at an average price of $31.43, for a total value of $31,430.00. Following the transaction, the executive vice president now directly owns 87,649 shares of the company's stock, valued at $2,754,808.07. This represents a 1.13% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. 72.21% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on the company. Citigroup reaffirmed a "buy" rating and set a $34.00 price target (down previously from $35.00) on shares of Warner Music Group in a research report on Thursday, May 29th. The Goldman Sachs Group downgraded shares of Warner Music Group from a "buy" rating to a "neutral" rating and dropped their target price for the stock from $35.00 to $28.00 in a report on Monday, May 12th. Wolfe Research upgraded shares of Warner Music Group to a "strong-buy" rating in a report on Thursday, May 8th. Barclays dropped their price objective on shares of Warner Music Group from $31.00 to $28.00 and set an "equal weight" rating on the stock in a report on Friday, May 9th. Finally, FBN Securities assumed coverage on shares of Warner Music Group in a report on Friday, March 28th. They set a "sector perform" rating and a $35.00 price objective on the stock. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat, the company presently has a consensus rating of "Hold" and an average price target of $33.95.

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.