Mackenzie Financial Corp Takes Position in Warner Music Group Corp. (NASDAQ:WMG)

Mackenzie Financial Corp acquired a new stake in shares of Warner Music Group Corp. (NASDAQ:WMG) in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 46,485 shares of the company’s stock, valued at approximately $1,664,000.

A number of other large investors have also made changes to their positions in the stock. Fifth Third Bancorp bought a new stake in Warner Music Group in the fourth quarter valued at about $38,000. Ramirez Asset Management Inc. bought a new stake in Warner Music Group in the third quarter valued at about $75,000. Acadian Asset Management LLC bought a new stake in Warner Music Group in the third quarter valued at about $228,000. Handelsbanken Fonder AB bought a new stake in Warner Music Group in the third quarter valued at about $243,000. Finally, Simon Quick Advisors LLC bought a new stake in Warner Music Group in the fourth quarter valued at about $296,000. Institutional investors and hedge funds own 96.88% of the company’s stock.

Warner Music Group Trading Down 2.8 %

WMG opened at $32.14 on Wednesday. The firm’s fifty day moving average is $33.97 and its two-hundred day moving average is $34.05. The company has a debt-to-equity ratio of 6.50, a quick ratio of 0.67 and a current ratio of 0.70. The firm has a market cap of $16.64 billion, a PE ratio of 36.52, a price-to-earnings-growth ratio of 2.08 and a beta of 1.46. Warner Music Group Corp. has a twelve month low of $23.62 and a twelve month high of $38.05.

Warner Music Group (NASDAQ:WMG) last posted its 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). The firm had revenue of $1.75 billion during the quarter, compared to analyst estimates of $1.68 billion. Warner Music Group had a return on equity of 128.86% and a net margin of 7.42%. Equities research analysts anticipate that Warner Music Group Corp. will post 0.99 EPS for the current year.

Warner Music Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 1st. Stockholders of record on Thursday, February 22nd were given a dividend of $0.17 per share. This represents a $0.68 annualized dividend and a dividend yield of 2.12%. The ex-dividend date was Wednesday, February 21st. Warner Music Group’s dividend payout ratio is 77.27%.

Analyst Upgrades and Downgrades

WMG has been the topic of a number of analyst reports. Loop Capital upped their target price on shares of Warner Music Group from $36.00 to $38.00 and gave the company a “hold” rating in a research note on Thursday, April 18th. Guggenheim lowered their target price on shares of Warner Music Group from $46.00 to $45.00 and set a “buy” rating on the stock in a research note on Friday, April 5th. Finally, Redburn Atlantic raised shares of Warner Music Group from a “sell” rating to a “neutral” rating and upped their price objective for the stock from $17.00 to $21.00 in a research note on Monday, February 5th. Six research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $36.88.

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.