GAMMA Investing LLC Purchases 93,530 Shares of Warner Music Group Corp. (NASDAQ:WMG)

GAMMA Investing LLC lifted its position in Warner Music Group Corp. (NASDAQ:WMG - Free Report) by 5,272.3% during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 95,304 shares of the company's stock after purchasing an additional 93,530 shares during the quarter. GAMMA Investing LLC's holdings in Warner Music Group were worth $3,040,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Darsana Capital Partners LP grew its stake in shares of Warner Music Group by 7,206.3% during the fourth quarter. Darsana Capital Partners LP now owns 6,000,000 shares of the company's stock valued at $186,000,000 after buying an additional 5,917,879 shares during the last quarter. JPMorgan Chase & Co. grew its stake in shares of Warner Music Group by 27.9% during the fourth quarter. JPMorgan Chase & Co. now owns 11,199,012 shares of the company's stock valued at $347,169,000 after buying an additional 2,444,508 shares during the last quarter. Barrow Hanley Mewhinney & Strauss LLC grew its stake in shares of Warner Music Group by 43.5% during the fourth quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 7,920,342 shares of the company's stock valued at $245,531,000 after buying an additional 2,400,500 shares during the last quarter. Darlington Partners Capital Management LP grew its stake in shares of Warner Music Group by 16.9% during the fourth quarter. Darlington Partners Capital Management LP now owns 10,370,280 shares of the company's stock valued at $321,479,000 after buying an additional 1,500,000 shares during the last quarter. Finally, Barclays PLC grew its stake in shares of Warner Music Group by 148.2% during the fourth quarter. Barclays PLC now owns 344,312 shares of the company's stock valued at $10,674,000 after buying an additional 1,058,895 shares during the last quarter. Institutional investors own 96.88% of the company's stock.

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 transaction of $31,430.00. Following the completion of 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 position. The sale was disclosed in a legal filing with the SEC, which is available at this link. 72.21% of the stock is currently owned by insiders.

Warner Music Group Stock Down 0.6%

Shares of WMG traded down $0.17 on Friday, hitting $26.34. 1,612,384 shares of the stock traded hands, compared to its average volume of 1,869,806. The company has a market capitalization of $13.73 billion, a PE ratio of 26.88, a P/E/G ratio of 1.03 and a beta of 1.25. 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 business has a 50 day simple moving average of $27.93 and a 200 day simple moving average of $30.67. Warner Music Group Corp. has a one year low of $25.56 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 the consensus estimate 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 net margin of 8.07% and a return on equity of 79.01%. Warner Music Group's revenue was down .7% on a year-over-year basis. During the same period last year, the business earned $0.18 EPS. As a group, equities analysts forecast that Warner Music Group Corp. will post 1.39 earnings per share for the current fiscal year.

Warner Music Group Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, June 3rd. Investors of record on Tuesday, May 27th were given a dividend of $0.18 per share. This represents a $0.72 annualized dividend and a dividend yield of 2.73%. The ex-dividend date of this dividend was Tuesday, May 27th. Warner Music Group's dividend payout ratio (DPR) is currently 82.76%.

Wall Street Analysts Forecast Growth

WMG has been the subject of a number of analyst reports. Citigroup reiterated a "buy" rating and set a $34.00 target price (down from $35.00) on shares of Warner Music Group in a report on Thursday, May 29th. Wolfe Research upgraded shares of Warner Music Group to a "strong-buy" rating in a report on Thursday, May 8th. Morgan Stanley dropped 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 report on Friday, May 9th. Guggenheim dropped their target price on shares of Warner Music Group from $40.00 to $37.00 and set a "buy" rating for the company in a report on Friday, May 9th. Finally, Sanford C. Bernstein initiated coverage on shares of Warner Music Group in a report on Wednesday, June 4th. They set an "outperform" rating and a $32.00 target price for the company. Two analysts have rated the stock with a sell rating, seven have given a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, Warner Music Group currently has a consensus rating of "Hold" and a consensus price target of $33.95.

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.