Assetmark Inc. Has $3.48 Million Holdings in Warner Music Group Corp. (NASDAQ:WMG)

Assetmark Inc. increased its stake in Warner Music Group Corp. (NASDAQ:WMG - Free Report) by 15.8% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 110,988 shares of the company's stock after buying an additional 15,155 shares during the period. Assetmark Inc.'s holdings in Warner Music Group were worth $3,479,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of WMG. 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 purchasing an additional 586 shares during the period. Aster Capital Management DIFC Ltd purchased a new stake in shares of Warner Music Group during the 4th quarter valued at about $43,000. UMB Bank n.a. raised its position in Warner Music Group by 101.5% in 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 stake in shares of Warner Music Group during the 4th quarter valued at $47,000. Finally, GAMMA Investing LLC raised its holdings in Warner Music Group by 71.4% in the 1st 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. 96.88% of the stock is owned by institutional investors.

Warner Music Group Stock Performance

Shares of NASDAQ WMG traded down $0.63 during mid-day trading on Friday, hitting $28.63. The company had a trading volume of 1,862,312 shares, compared to its average volume of 1,844,898. The firm's 50 day simple moving average is $28.18 and its two-hundred day simple moving average is $30.12. The stock has a market cap of $14.92 billion, a price-to-earnings ratio of 32.91, a PEG ratio of 1.13 and a beta of 1.24. The company has a debt-to-equity ratio of 5.43, a current ratio of 0.66 and a quick ratio of 0.64. Warner Music Group Corp. has a 12 month low of $25.56 and a 12 month high of $36.64.

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

Warner Music Group Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, June 3rd. Shareholders of record on Tuesday, May 27th were paid a $0.18 dividend. The ex-dividend date was Tuesday, May 27th. This represents a $0.72 dividend on an annualized basis and a yield of 2.5%. Warner Music Group's payout ratio is 82.76%.

Wall Street Analyst Weigh In

WMG has been the topic of several recent analyst reports. Redburn Atlantic raised Warner Music Group from a "strong sell" rating to a "hold" rating and set a $30.00 target price on the stock in a research note on Tuesday, July 15th. Sanford C. Bernstein increased their price target 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. Bank of America raised Warner Music Group from an "underperform" rating to a "neutral" rating and upped their price objective for the stock from $28.00 to $33.00 in a report on Wednesday, July 9th. Wolfe Research raised shares of Warner Music Group to a "strong-buy" rating in a report on Thursday, May 8th. Finally, Citigroup reaffirmed a "buy" rating and issued a $34.00 price target (down previously from $35.00) on shares of Warner Music Group in a report on Thursday, May 29th. Ten equities research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $33.72.

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.