Assenagon Asset Management S.A. Lowers Stake in Warner Music Group Corp. (NASDAQ:WMG)

Assenagon Asset Management S.A. lessened its holdings in shares of Warner Music Group Corp. (NASDAQ:WMG - Free Report) by 66.6% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 180,035 shares of the company's stock after selling 359,404 shares during the quarter. Assenagon Asset Management S.A.'s holdings in Warner Music Group were worth $6,443,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also added to or reduced their stakes in the company. Acadian Asset Management LLC bought a new position in Warner Music Group in the first quarter worth $26,000. Ossiam lifted its position in Warner Music Group by 31.1% during the 1st quarter. Ossiam now owns 1,787 shares of the company's stock valued at $60,000 after acquiring an additional 424 shares during the period. Ramirez Asset Management Inc. bought a new stake in Warner Music Group during the third quarter worth about $75,000. Sunbelt Securities Inc. purchased a new stake in Warner Music Group in the second quarter worth about $125,000. Finally, State of Wyoming lifted its holdings in shares of Warner Music Group by 20.4% during the fourth quarter. State of Wyoming now owns 3,913 shares of the company's stock valued at $137,000 after purchasing an additional 664 shares during the last quarter. 96.88% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Separately, Redburn Atlantic raised Warner Music Group from a "sell" rating to a "neutral" rating and boosted their target price for the stock from $17.00 to $21.00 in a report on Monday, February 5th. Five research analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $36.27.

Warner Music Group Stock Performance

NASDAQ:WMG traded down $0.30 during mid-day trading on Friday, hitting $33.02. 686,459 shares of the company traded hands, compared to its average volume of 1,112,827. The stock's fifty day moving average price is $34.91 and its 200-day moving average price is $33.79. The company has a quick ratio of 0.67, a current ratio of 0.70 and a debt-to-equity ratio of 6.50. Warner Music Group Corp. has a one year low of $23.62 and a one year high of $38.05. The firm has a market cap of $17.10 billion, a price-to-earnings ratio of 37.52, a price-to-earnings-growth ratio of 2.07 and a beta of 1.47.

Warner Music Group (NASDAQ:WMG - Get Free Report) last issued its quarterly earnings results on Wednesday, February 7th. The company reported $0.30 earnings per share for the quarter, missing the consensus estimate of $0.43 by ($0.13). Warner Music Group had a net margin of 7.42% and a return on equity of 128.86%. The firm had revenue of $1.75 billion for the quarter, compared to analysts' expectations of $1.68 billion. Research analysts anticipate that Warner Music Group Corp. will post 0.99 earnings per share for the current fiscal year.

Warner Music Group Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, March 1st. Stockholders of record on Thursday, February 22nd were issued a $0.17 dividend. This represents a $0.68 annualized dividend and a dividend yield of 2.06%. The ex-dividend date of this dividend was Wednesday, February 21st. Warner Music Group's dividend payout ratio (DPR) is presently 77.27%.

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.