Universal Beteiligungs und Servicegesellschaft mbH purchased a new stake in shares of Warner Music Group Corp. (NASDAQ:WMG - Free Report) during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund purchased 12,023 shares of the company's stock, valued at approximately $377,000.
Several other hedge funds and other institutional investors also recently modified their holdings of the stock. Itau Unibanco Holding S.A. lifted 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 valued at $33,000 after buying an additional 586 shares during the period. Aster Capital Management DIFC Ltd bought a new position in shares of Warner Music Group in the 4th quarter worth about $43,000. UMB Bank n.a. lifted its position in Warner Music Group by 101.5% during the 1st quarter. UMB Bank n.a. now owns 1,453 shares of the company's stock valued at $46,000 after acquiring an additional 732 shares during the period. State of Wyoming bought a new stake in Warner Music Group during the fourth quarter worth about $47,000. Finally, GAMMA Investing LLC grew its holdings in Warner Music Group by 71.4% in the first quarter. GAMMA Investing LLC now owns 3,040 shares of the company's stock worth $95,000 after purchasing an additional 1,266 shares during the period. Hedge funds and other institutional investors own 96.88% of the company's stock.
Analyst Upgrades and Downgrades
A number of equities analysts have weighed in on the stock. Morgan Stanley decreased their target price on shares of Warner Music Group from $32.00 to $31.00 and set an "equal weight" rating for the company in a research note on Friday, May 9th. Rothschild & Co Redburn raised Warner Music Group from a "sell" rating to a "neutral" rating and set a $30.00 price objective for the company in a research report on Tuesday, July 15th. Sanford C. Bernstein lifted their price objective on Warner Music Group from $32.00 to $34.00 and gave the company an "outperform" rating in a research note on Thursday, July 3rd. Wolfe Research raised Warner Music Group to a "strong-buy" rating in a research note on Thursday, May 8th. Finally, UBS Group reduced their price target on Warner Music Group from $41.00 to $38.00 and set a "buy" rating for the company in a report on Friday, May 9th. Ten equities research 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. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $33.72.
Read Our Latest Analysis on WMG
Warner Music Group Stock Down 2.2%
WMG opened at $28.63 on Monday. The stock has a market capitalization of $14.92 billion, a price-to-earnings ratio of 32.91, a PEG ratio of 1.09 and a beta of 1.26. The firm has a 50 day moving average price of $28.23 and a 200-day moving average price of $30.12. Warner Music Group Corp. has a twelve month low of $25.56 and a twelve month high of $36.64. The company has a quick ratio of 0.64, a current ratio of 0.66 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 EPS for the quarter, missing analysts' consensus estimates of $0.28 by ($0.21). The company had revenue of $1.48 billion during the quarter, compared to the consensus estimate of $1.52 billion. Warner Music Group had a return on equity of 64.64% and a net margin of 7.14%. The company's revenue for the quarter was down .7% on a year-over-year basis. During the same period last year, the firm posted $0.18 EPS. Equities research analysts forecast that Warner Music Group Corp. will post 1.39 earnings per share for the current year.
Warner Music Group Dividend Announcement
The company also recently announced 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 of this dividend was Tuesday, May 27th. This represents a $0.72 dividend on an annualized basis and a yield of 2.5%. Warner Music Group's dividend payout ratio is currently 82.76%.
About Warner Music Group
(
Free Report)
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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