DigitalBridge Group Inc. Raises Holdings in Warner Music Group Corp. (NASDAQ:WMG)

DigitalBridge Group Inc. raised its stake in Warner Music Group Corp. (NASDAQ:WMG - Free Report) by 29.7% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 896,445 shares of the company's stock after purchasing an additional 205,529 shares during the period. Warner Music Group accounts for approximately 2.0% of DigitalBridge Group Inc.'s investment portfolio, making the stock its 19th largest holding. DigitalBridge Group Inc. owned about 0.17% of Warner Music Group worth $27,790,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in the company. Patriot Financial Group Insurance Agency LLC increased its position in Warner Music Group by 3.4% during the 4th quarter. Patriot Financial Group Insurance Agency LLC now owns 12,269 shares of the company's stock valued at $380,000 after buying an additional 408 shares in the last quarter. Keystone Financial Services grew its stake in shares of Warner Music Group by 4.4% during the fourth quarter. Keystone Financial Services now owns 10,336 shares of the company's stock worth $320,000 after acquiring an additional 432 shares during the last quarter. Fifth Third Bancorp increased its holdings in shares of Warner Music Group by 13.1% during the fourth quarter. Fifth Third Bancorp now owns 3,967 shares of the company's stock valued at $123,000 after acquiring an additional 458 shares in the last quarter. Capital International Ltd. CA raised its position 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 valued at $3,630,000 after purchasing an additional 479 shares during the last quarter. Finally, Itau Unibanco Holding S.A. boosted its stake in 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 purchasing an additional 586 shares in the last quarter. 96.88% of the stock is currently owned by institutional investors.

Warner Music Group Stock Performance

Shares of WMG traded down $0.05 during trading hours on Thursday, hitting $26.26. The stock had a trading volume of 697,816 shares, compared to its average volume of 1,917,757. The firm has a 50-day moving average price of $29.07 and a 200 day moving average price of $31.20. Warner Music Group Corp. has a fifty-two week low of $25.87 and a fifty-two week high of $36.64. The firm has a market capitalization of $13.66 billion, a price-to-earnings ratio of 26.77, a PEG ratio of 1.03 and a beta of 1.32. The company has a debt-to-equity ratio of 5.67, a quick ratio of 0.67 and a current ratio of 0.69.

Warner Music Group (NASDAQ:WMG - Get Free Report) last released its quarterly earnings data 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 net margin of 8.07% and a return on equity of 79.01%. The firm had revenue of $1.48 billion during the quarter, compared to analysts' expectations of $1.52 billion. During the same period in the previous year, the firm posted $0.18 EPS. The firm's quarterly revenue was down .7% on a year-over-year basis. As a group, research analysts anticipate that Warner Music Group Corp. will post 1.39 EPS for the current year.

Warner Music Group Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, June 3rd. Stockholders of record on Tuesday, May 27th will be paid a dividend of $0.18 per share. This represents a $0.72 annualized dividend and a dividend yield of 2.74%. The ex-dividend date is Tuesday, May 27th. Warner Music Group's payout ratio is 82.76%.

Insider Activity

In related news, EVP Timothy Matusch sold 1,000 shares of the company's stock in a transaction dated Wednesday, April 2nd. The shares were sold at an average price of $31.43, for a total transaction of $31,430.00. Following the completion of the transaction, the executive vice president now owns 87,649 shares in the company, valued at $2,754,808.07. This represents a 1.13% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 72.21% of the company's stock.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on WMG shares. Morgan Stanley decreased their price target on shares of Warner Music Group from $32.00 to $31.00 and set an "equal weight" rating for the company in a report on Friday, May 9th. Macquarie restated a "neutral" rating and issued a $30.00 target price on shares of Warner Music Group in a research note on Thursday, January 30th. FBN Securities started coverage on Warner Music Group in a research note on Friday, March 28th. They set a "sector perform" rating and a $35.00 price target on the stock. UBS Group cut their price objective on Warner Music Group from $41.00 to $38.00 and set a "buy" rating on the stock in a report on Friday, May 9th. Finally, Barclays decreased their target price on Warner Music Group from $31.00 to $28.00 and set an "equal weight" rating for the company in a report on Friday, May 9th. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, Warner Music Group presently has an average rating of "Hold" and a consensus price target of $34.50.

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.