DigitalBridge Group Inc. Has $27.79 Million Stake in Warner Music Group Corp. (NASDAQ:WMG)

DigitalBridge Group Inc. grew its stake in Warner Music Group Corp. (NASDAQ:WMG - Free Report) by 29.7% during the 4th quarter, according to its most recent 13F filing 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 comprises about 2.0% of DigitalBridge Group Inc.'s investment portfolio, making the stock its 19th biggest position. DigitalBridge Group Inc. owned about 0.17% of Warner Music Group worth $27,790,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors also recently bought and sold shares of WMG. Itau Unibanco Holding S.A. grew its position 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 during the last quarter. SBI Securities Co. Ltd. bought a new position in shares of Warner Music Group during the 4th quarter worth about $35,000. Aster Capital Management DIFC Ltd bought a new position in shares of Warner Music Group during the 4th quarter worth about $43,000. State of Wyoming bought a new position in shares of Warner Music Group during the 4th quarter worth about $47,000. Finally, Fifth Third Bancorp lifted its holdings in shares of Warner Music Group by 13.1% during the 4th quarter. Fifth Third Bancorp now owns 3,967 shares of the company's stock worth $123,000 after acquiring an additional 458 shares during the period. 96.88% of the stock is currently owned by institutional investors and hedge funds.

Warner Music Group Trading Down 0.2%

NASDAQ:WMG traded down $0.06 during trading hours on Tuesday, hitting $26.16. The stock had a trading volume of 1,818,711 shares, compared to its average volume of 1,923,060. The business's 50 day moving average is $29.32 and its 200-day moving average is $31.27. The company has a debt-to-equity ratio of 5.67, a quick ratio of 0.67 and a current ratio of 0.69. The company has a market cap of $13.61 billion, a price-to-earnings ratio of 26.69, a P/E/G ratio of 1.03 and a beta of 1.32. Warner Music Group Corp. has a one year low of $25.89 and a one year high of $36.64.

Warner Music Group (NASDAQ:WMG - Get Free Report) last announced its quarterly earnings results 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). The firm had revenue of $1.48 billion for the quarter, compared to the consensus estimate of $1.52 billion. Warner Music Group had a return on equity of 79.01% and a net margin of 8.07%. The company's revenue for the quarter was down .7% compared to the same quarter last year. During the same period in the prior year, the business earned $0.18 earnings per share. Sell-side analysts anticipate that Warner Music Group Corp. will post 1.39 EPS for the current fiscal year.

Warner Music Group Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, June 3rd. Shareholders of record on Tuesday, May 27th will be issued a $0.18 dividend. The ex-dividend date is Tuesday, May 27th. This represents a $0.72 annualized dividend and a dividend yield of 2.75%. Warner Music Group's dividend payout ratio (DPR) is currently 82.76%.

Insiders Place Their Bets

In other news, EVP Timothy Matusch sold 1,000 shares of the business's stock in a transaction on Wednesday, April 2nd. The shares were sold at an average price of $31.43, for a total value of $31,430.00. Following the sale, the executive vice president now owns 87,649 shares of the company's stock, valued at $2,754,808.07. The trade was a 1.13% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Corporate insiders own 72.21% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on WMG shares. Wolfe Research raised shares of Warner Music Group to a "strong-buy" rating in a report on Thursday, May 8th. Morgan Stanley reduced their price objective 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 reaffirmed a "neutral" rating and set a $30.00 price objective on shares of Warner Music Group in a report on Thursday, January 30th. 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 company from $35.00 to $28.00 in a report on Monday, May 12th. Finally, UBS Group cut their price target on shares of Warner Music Group from $41.00 to $38.00 and set a "buy" rating for the company in a report on Friday, May 9th. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating, eight have given a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Hold" and an average target price of $34.50.

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.