OneDigital Investment Advisors LLC Sells 9,667 Shares of Warner Music Group Corp. (NASDAQ:WMG)

OneDigital Investment Advisors LLC trimmed its position in shares of Warner Music Group Corp. (NASDAQ:WMG - Free Report) by 54.5% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 8,063 shares of the company's stock after selling 9,667 shares during the quarter. OneDigital Investment Advisors LLC's holdings in Warner Music Group were worth $253,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently bought and sold shares of the company. Fifth Third Bancorp boosted its holdings in Warner Music Group by 10.6% during the 1st quarter. Fifth Third Bancorp now owns 4,388 shares of the company's stock worth $138,000 after acquiring an additional 421 shares during the last quarter. Capital International Ltd. CA boosted its holdings in shares of Warner Music Group by 0.4% in the 4th quarter. Capital International Ltd. CA now owns 117,095 shares of the company's stock worth $3,630,000 after buying an additional 479 shares during the last quarter. Itau Unibanco Holding S.A. boosted its holdings in shares of Warner Music Group by 122.6% in the 4th quarter. Itau Unibanco Holding S.A. now owns 1,064 shares of the company's stock worth $33,000 after buying an additional 586 shares during the last quarter. Oregon Public Employees Retirement Fund boosted its holdings in shares of Warner Music Group by 2.4% in the 1st quarter. Oregon Public Employees Retirement Fund now owns 29,510 shares of the company's stock worth $925,000 after buying an additional 700 shares during the last quarter. Finally, UMB Bank n.a. boosted its holdings in shares of Warner Music Group by 101.5% in the 1st quarter. UMB Bank n.a. now owns 1,453 shares of the company's stock worth $46,000 after buying an additional 732 shares during the last quarter. 96.88% of the stock is owned by hedge funds and other institutional investors.

Warner Music Group Price Performance

Shares of WMG stock traded down $0.16 during trading hours on Friday, reaching $29.77. The stock had a trading volume of 1,222,243 shares, compared to its average volume of 1,768,074. The stock's fifty day simple moving average is $27.38 and its 200 day simple moving average is $30.10. 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 12 month low of $25.56 and a 12 month high of $36.64. The firm has a market capitalization of $15.52 billion, a PE ratio of 34.22, a PEG ratio of 1.13 and a beta of 1.24.

Warner Music Group (NASDAQ:WMG - Get Free Report) last released its quarterly earnings data on Thursday, May 8th. The company reported $0.07 EPS for the quarter, missing analysts' consensus estimates 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 firm had revenue of $1.48 billion during the quarter, compared to the consensus estimate of $1.52 billion. During the same quarter last year, the business posted $0.18 earnings per share. Warner Music Group's revenue was down .7% compared to the same quarter last year. On average, 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 disclosed a quarterly dividend, which was paid on Tuesday, June 3rd. Stockholders of record on Tuesday, May 27th were given a $0.18 dividend. The ex-dividend date was Tuesday, May 27th. This represents a $0.72 dividend on an annualized basis and a dividend yield of 2.42%. Warner Music Group's dividend payout ratio (DPR) is currently 82.76%.

Analyst Ratings Changes

WMG has been the topic of a number of research analyst reports. The Goldman Sachs Group downgraded shares of 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 report on Monday, May 12th. 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 report on Monday, July 7th. Bank of America raised shares of Warner Music Group from an "underperform" rating to a "neutral" rating and boosted their price target for the stock from $28.00 to $33.00 in a report on Wednesday. Sanford C. Bernstein boosted their price target on shares of Warner Music Group from $32.00 to $34.00 and gave the stock an "outperform" rating in a report on Thursday, July 3rd. Finally, UBS Group cut their price target on shares of Warner Music Group from $41.00 to $38.00 and set a "buy" rating on the stock in a report on Friday, May 9th. Eight research analysts have rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $34.19.

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.