OneDigital Investment Advisors LLC Has $253,000 Holdings in Warner Music Group Corp. (NASDAQ:WMG)

OneDigital Investment Advisors LLC trimmed its position in Warner Music Group Corp. (NASDAQ:WMG - Free Report) by 54.5% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. 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.

A number of other institutional investors and hedge funds have also modified their holdings of the company. Itau Unibanco Holding S.A. increased its position in Warner Music Group by 122.6% during the fourth quarter. Itau Unibanco Holding S.A. now owns 1,064 shares of the company's stock worth $33,000 after acquiring an additional 586 shares during the period. Aster Capital Management DIFC Ltd bought a new position in Warner Music Group during the fourth quarter worth $43,000. UMB Bank n.a. increased its position in Warner Music Group by 101.5% during the first quarter. UMB Bank n.a. now owns 1,453 shares of the company's stock worth $46,000 after acquiring an additional 732 shares during the period. State of Wyoming bought a new position in Warner Music Group during the fourth quarter worth $47,000. Finally, GAMMA Investing LLC increased its position in Warner Music Group by 71.4% during the first quarter. GAMMA Investing LLC now owns 3,040 shares of the company's stock worth $95,000 after acquiring an additional 1,266 shares during the period. 96.88% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

WMG has been the topic of a number of research reports. Wolfe Research raised shares of Warner Music Group to a "strong-buy" rating in a research report on Thursday, May 8th. UBS Group lowered 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. Sanford C. Bernstein boosted their price target on shares of Warner Music Group from $32.00 to $34.00 and gave the company an "outperform" rating in a report on Thursday, July 3rd. The Goldman Sachs Group lowered shares of Warner Music Group from a "buy" rating to a "neutral" rating and lowered their price target for the company from $35.00 to $28.00 in a report on Monday, May 12th. Finally, FBN Securities began coverage on shares of Warner Music Group in a report on Friday, March 28th. They issued a "sector perform" rating and a $35.00 price target on the stock. Ten investment 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. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $33.72.

Warner Music Group Price Performance

NASDAQ WMG traded up $0.60 on Wednesday, hitting $30.91. 2,170,515 shares of the company were exchanged, compared to its average volume of 1,770,091. The firm has a 50 day moving average of $27.38 and a two-hundred day moving average of $30.09. The company has a market cap of $16.11 billion, a P/E ratio of 35.53, a P/E/G ratio of 1.16 and a beta of 1.24. 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 1-year low of $25.56 and a 1-year high of $36.64.

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

Warner Music Group Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, June 3rd. Investors of record on Tuesday, May 27th were given a dividend of $0.18 per share. The ex-dividend date of this dividend was Tuesday, May 27th. This represents a $0.72 annualized dividend and a yield of 2.33%. Warner Music Group's dividend payout ratio (DPR) is 82.76%.

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.