Warner Music Group Corp. (NASDAQ:WMG) Stake Increased by Stephens Inc. AR

Stephens Inc. AR increased its stake in Warner Music Group Corp. (NASDAQ:WMGGet Rating) by 17.9% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 6,893 shares of the company’s stock after buying an additional 1,046 shares during the period. Stephens Inc. AR’s holdings in Warner Music Group were worth $261,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Envestnet Asset Management Inc. increased its stake in Warner Music Group by 9.0% during the first quarter. Envestnet Asset Management Inc. now owns 27,147 shares of the company’s stock valued at $1,028,000 after purchasing an additional 2,241 shares during the last quarter. Allspring Global Investments Holdings LLC bought a new stake in Warner Music Group during the first quarter valued at $87,809,000. SG Americas Securities LLC increased its stake in Warner Music Group by 14.3% during the first quarter. SG Americas Securities LLC now owns 80,563 shares of the company’s stock valued at $3,049,000 after purchasing an additional 10,086 shares during the last quarter. DekaBank Deutsche Girozentrale increased its stake in Warner Music Group by 21.2% during the first quarter. DekaBank Deutsche Girozentrale now owns 57,071 shares of the company’s stock valued at $2,158,000 after purchasing an additional 10,000 shares during the last quarter. Finally, Assenagon Asset Management S.A. increased its stake in Warner Music Group by 597.8% during the first quarter. Assenagon Asset Management S.A. now owns 1,244,870 shares of the company’s stock valued at $47,118,000 after purchasing an additional 1,066,475 shares during the last quarter. Institutional investors own 22.29% of the company’s stock.

Warner Music Group Stock Performance

WMG stock opened at $31.50 on Friday. The company has a market capitalization of $16.22 billion, a P/E ratio of 44.37, a PEG ratio of 1.30 and a beta of 1.56. The company has a 50-day simple moving average of $27.25 and a 200 day simple moving average of $32.19. Warner Music Group Corp. has a fifty-two week low of $23.74 and a fifty-two week high of $50.23. The company has a quick ratio of 0.58, a current ratio of 0.61 and a debt-to-equity ratio of 22.13.

Warner Music Group (NASDAQ:WMGGet Rating) last posted its quarterly earnings data on Tuesday, May 10th. The company reported $0.18 earnings per share for the quarter, missing the consensus estimate of $0.21 by ($0.03). Warner Music Group had a return on equity of 362.14% and a net margin of 6.45%. The company had revenue of $1.38 billion during the quarter, compared to analyst estimates of $1.37 billion. During the same period in the previous year, the company earned $0.22 EPS. The business’s revenue for the quarter was up 10.1% compared to the same quarter last year. Sell-side analysts predict that Warner Music Group Corp. will post 0.85 earnings per share for the current fiscal year.

Warner Music Group Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, June 1st. Shareholders of record on Monday, May 23rd were issued a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a yield of 1.90%. The ex-dividend date of this dividend was Friday, May 20th. Warner Music Group’s payout ratio is 84.51%.

Analysts Set New Price Targets

Several analysts have weighed in on WMG shares. Redburn Partners reiterated a “sell” rating on shares of Warner Music Group in a research note on Monday, April 25th. JPMorgan Chase & Co. lowered their price target on shares of Warner Music Group from $40.00 to $34.00 and set an “overweight” rating for the company in a research report on Wednesday, July 13th. Morgan Stanley lowered their price target on shares of Warner Music Group from $37.00 to $34.00 and set an “overweight” rating for the company in a research report on Monday, July 25th. TheStreet lowered shares of Warner Music Group from a “c-” rating to a “d+” rating in a research report on Thursday, July 14th. Finally, Truist Financial lowered their price target on shares of Warner Music Group from $40.00 to $35.00 and set a “buy” rating for the company in a research report on Tuesday, July 19th. Two analysts have rated the stock with a sell rating, two have given a hold rating and ten have assigned a buy rating to the stock. According to data from MarketBeat, Warner Music Group currently has a consensus rating of “Moderate Buy” and a consensus target price of $40.38.

Warner Music Group Company Profile

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Warner Music Group Corp. operates as a music entertainment company in the United States, the United Kingdom, Germany, and internationally. The company 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.

See Also

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Institutional Ownership by Quarter for Warner Music Group (NASDAQ:WMG)

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