Allspring Global Investments Holdings LLC lessened its position in Warner Music Group Corp. (NASDAQ:WMG - Free Report) by 80.4% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 430,697 shares of the company's stock after selling 1,762,343 shares during the period. Allspring Global Investments Holdings LLC owned approximately 0.08% of Warner Music Group worth $15,415,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors also recently modified their holdings of the company. Hahn Capital Management LLC bought a new stake in shares of Warner Music Group in the 4th quarter worth $4,863,000. Schonfeld Strategic Advisors LLC grew its holdings in shares of Warner Music Group by 1,711.7% in the 3rd quarter. Schonfeld Strategic Advisors LLC now owns 903,241 shares of the company's stock worth $28,362,000 after acquiring an additional 853,384 shares during the last quarter. Charles Schwab Investment Management Inc. grew its holdings in shares of Warner Music Group by 31.7% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 801,840 shares of the company's stock worth $25,178,000 after acquiring an additional 193,221 shares during the last quarter. DigitalBridge Group Inc. grew its holdings in shares of Warner Music Group by 46.3% in the 3rd quarter. DigitalBridge Group Inc. now owns 479,878 shares of the company's stock worth $15,068,000 after acquiring an additional 151,778 shares during the last quarter. Finally, Vanguard Group Inc. grew its holdings in shares of Warner Music Group by 2.8% in the 3rd quarter. Vanguard Group Inc. now owns 10,984,798 shares of the company's stock worth $344,923,000 after acquiring an additional 302,892 shares during the last quarter. Institutional investors own 96.88% of the company's stock.
Warner Music Group Stock Up 0.6 %
WMG traded up $0.20 during trading on Tuesday, reaching $33.66. 1,091,417 shares of the stock traded hands, compared to its average volume of 1,466,264. The stock has a market cap of $17.43 billion, a price-to-earnings ratio of 38.02, a price-to-earnings-growth ratio of 2.10 and a beta of 1.46. Warner Music Group Corp. has a fifty-two week low of $23.62 and a fifty-two week high of $38.05. The company has a debt-to-equity ratio of 6.50, a current ratio of 0.70 and a quick ratio of 0.67. The stock's 50-day simple moving average is $34.33 and its two-hundred day simple moving average is $33.99.
Warner Music Group (NASDAQ:WMG - Get Free Report) last announced its quarterly earnings results on Wednesday, February 7th. The company reported $0.30 earnings per share for the quarter, missing analysts' consensus estimates of $0.43 by ($0.13). Warner Music Group had a return on equity of 128.86% and a net margin of 7.42%. The company had revenue of $1.75 billion during the quarter, compared to analyst estimates of $1.68 billion. As a group, equities research analysts expect that Warner Music Group Corp. will post 0.99 EPS for the current year.
Warner Music Group Dividend Announcement
The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 1st. Investors of record on Thursday, February 22nd were given a dividend of $0.17 per share. The ex-dividend date was Wednesday, February 21st. This represents a $0.68 annualized dividend and a dividend yield of 2.02%. Warner Music Group's dividend payout ratio is presently 77.27%.
Wall Street Analysts Forecast Growth
A number of equities analysts recently issued reports on the company. Guggenheim decreased their target price on Warner Music Group from $46.00 to $45.00 and set a "buy" rating on the stock in a report on Friday, April 5th. Redburn Atlantic upgraded Warner Music Group from a "sell" rating to a "neutral" rating and lifted their target price for the stock from $17.00 to $21.00 in a report on Monday, February 5th. Five equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $36.81.
Read Our Latest Stock Report on Warner Music Group
Warner Music Group Profile
(
Free Report)
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.
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