Jackson Square Partners LLC Has $100 Million Stock Holdings in Warner Music Group Corp. (NASDAQ:WMG)

Jackson Square Partners LLC lowered its position in Warner Music Group Corp. (NASDAQ:WMG - Free Report) by 18.1% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 2,794,017 shares of the company's stock after selling 617,229 shares during the quarter. Warner Music Group accounts for approximately 3.2% of Jackson Square Partners LLC's investment portfolio, making the stock its 10th largest position. Jackson Square Partners LLC owned approximately 0.54% of Warner Music Group worth $99,998,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Exchange Traded Concepts LLC increased its stake in shares of Warner Music Group by 6.3% in the fourth quarter. Exchange Traded Concepts LLC now owns 9,224 shares of the company's stock valued at $330,000 after buying an additional 545 shares during the period. Fifth Third Bancorp acquired a new position in shares of Warner Music Group in the fourth quarter valued at approximately $38,000. Principal Financial Group Inc. increased its stake in shares of Warner Music Group by 7.1% in the third quarter. Principal Financial Group Inc. now owns 16,638 shares of the company's stock valued at $522,000 after buying an additional 1,109 shares during the period. Natixis Advisors L.P. increased its stake in shares of Warner Music Group by 2.6% in the third quarter. Natixis Advisors L.P. now owns 50,014 shares of the company's stock valued at $1,570,000 after buying an additional 1,255 shares during the period. Finally, SRS Capital Advisors Inc. acquired a new position in shares of Warner Music Group in the fourth quarter valued at approximately $46,000. Institutional investors and hedge funds own 96.88% of the company's stock.

Warner Music Group Stock Performance

Shares of Warner Music Group stock traded up $0.15 during trading hours on Friday, hitting $32.04. 1,168,159 shares of the company's stock traded hands, compared to its average volume of 2,023,870. Warner Music Group Corp. has a 12-month low of $23.62 and a 12-month high of $38.05. The stock has a market capitalization of $16.59 billion, a price-to-earnings ratio of 32.04, a PEG ratio of 2.07 and a beta of 1.43. The company has a fifty day simple moving average of $33.24 and a 200-day simple moving average of $34.13. The company has a debt-to-equity ratio of 6.81, a current ratio of 0.69 and a quick ratio of 0.67.

Warner Music Group (NASDAQ:WMG - Get Free Report) last announced its earnings results on Thursday, May 9th. The company reported $0.18 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.11 by $0.07. The firm had revenue of $1.49 billion during the quarter, compared to analyst estimates of $1.48 billion. Warner Music Group had a return on equity of 120.42% and a net margin of 8.28%. The business's revenue was up 6.8% compared to the same quarter last year. During the same period last year, the firm posted $0.06 EPS. Equities research analysts anticipate that Warner Music Group Corp. will post 0.98 EPS for the current fiscal year.

Warner Music Group Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, June 3rd. Stockholders of record on Thursday, May 23rd will be paid a dividend of $0.17 per share. The ex-dividend date of this dividend is Wednesday, May 22nd. This represents a $0.68 annualized dividend and a dividend yield of 2.12%. Warner Music Group's payout ratio is 68.00%.

Analysts Set New Price Targets

Several analysts recently commented on WMG shares. Loop Capital upped their target price on Warner Music Group from $36.00 to $38.00 and gave the company a "hold" rating in a report on Thursday, April 18th. Guggenheim cut their price target 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. Morgan Stanley started coverage on Warner Music Group in a report on Monday, May 6th. They set an "overweight" rating and a $43.00 price target on the stock. Finally, Redburn Atlantic upgraded Warner Music Group from a "sell" rating to a "neutral" rating and increased their price target for the stock from $17.00 to $21.00 in a report on Monday, February 5th. Six analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to data from MarketBeat.com, Warner Music Group currently has an average rating of "Moderate Buy" and a consensus price target of $37.18.

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.