Revisor Wealth Management LLC Acquires New Stake in Warner Music Group Corp. $WMG

Key Points

• Revisor Wealth Management LLC has acquired a new stake in Warner Music Group Corp., purchasing 7,688 shares valued at approximately $230,000.
• Warner Music Group recently reported a net loss of $0.03 EPS, missing analysts' expectations, though its revenue was up 8.7% year-over-year.
• The company's quarterly dividend increased from $0.18 to $0.19 per share, reflecting a payout ratio of 133.33% and a dividend yield of 2.3%.

Revisor Wealth Management LLC acquired a new stake in Warner Music Group Corp. (NASDAQ:WMG - Free Report) during the 2nd quarter, according to its most recent disclosure with the SEC. The fund acquired 7,688 shares of the company's stock, valued at approximately $230,000.

Other institutional investors have also added to or reduced their stakes in the company. Principal Financial Group Inc. lifted its position in Warner Music Group by 2.9% in the 1st quarter. Principal Financial Group Inc. now owns 326,449 shares of the company's stock valued at $10,234,000 after acquiring an additional 9,103 shares in the last quarter. GAMMA Investing LLC boosted its stake in shares of 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 last quarter. Exchange Traded Concepts LLC boosted its stake in shares of Warner Music Group by 88.0% during 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. FORA Capital LLC acquired a new position in shares of Warner Music Group during the 1st quarter worth about $1,157,000. Finally, Vanguard Group Inc. boosted its stake 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 buying an additional 1,316,979 shares during the last quarter. 96.88% of the stock is owned by institutional investors.

Warner Music Group Stock Performance

Shares of NASDAQ:WMG opened at $33.31 on Wednesday. The company's 50 day moving average price is $32.20 and its two-hundred day moving average price is $30.05. 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 cap of $17.36 billion, a PE ratio of 58.44, a PEG ratio of 1.64 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.

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

Warner Music Group Increases Dividend

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

Analyst Ratings Changes

WMG has been the subject of a number of recent research reports. UBS Group set a $45.00 price objective on shares of Warner Music Group in a research note on Wednesday, September 10th. The Goldman Sachs Group increased their price objective on shares of Warner Music Group from $28.00 to $31.00 and gave the stock a "neutral" rating in a research note on Tuesday, August 12th. Redburn Atlantic upgraded shares of 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 note on Tuesday, July 15th. Bank of America upgraded shares of Warner Music Group from an "underperform" rating to a "neutral" rating and increased their price objective for the stock from $28.00 to $33.00 in a research note on Wednesday, July 9th. Finally, Sanford C. Bernstein upped their target price 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. One research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and ten have issued a Hold rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price 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.

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