12,779 Shares in Warner Music Group Corp. (NASDAQ:WMG) Bought by Aigen Investment Management LP

Aigen Investment Management LP bought a new stake in Warner Music Group Corp. (NASDAQ:WMG) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 12,779 shares of the company’s stock, valued at approximately $457,000.

Other hedge funds also recently modified their holdings of the company. Exchange Traded Concepts LLC boosted its position in Warner Music Group by 6.3% during the 4th quarter. Exchange Traded Concepts LLC now owns 9,224 shares of the company’s stock worth $330,000 after acquiring an additional 545 shares during the last quarter. Fifth Third Bancorp bought a new position in Warner Music Group in the fourth quarter valued at $38,000. Principal Financial Group Inc. increased its stake in Warner Music Group by 7.1% in the 3rd 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 last quarter. Natixis Advisors L.P. lifted its position in Warner Music Group by 2.6% during the 3rd quarter. Natixis Advisors L.P. now owns 50,014 shares of the company’s stock worth $1,570,000 after buying an additional 1,255 shares in the last quarter. Finally, SRS Capital Advisors Inc. acquired a new position in Warner Music Group during the fourth quarter valued at approximately $46,000. Institutional investors and hedge funds own 96.88% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have recently commented on WMG. Loop Capital lifted their price objective on shares of Warner Music Group from $36.00 to $38.00 and gave the company a “hold” rating in a research report on Thursday, April 18th. Guggenheim dropped their price objective on 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. 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 research note on Monday, February 5th. Finally, Morgan Stanley began coverage on Warner Music Group in a research note on Monday, May 6th. They issued an “overweight” rating and a $43.00 price target on the stock. Six research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $37.18.

Warner Music Group Stock Performance

Warner Music Group stock opened at $30.51 on Friday. The stock has a market cap of $15.80 billion, a PE ratio of 30.41, a P/E/G ratio of 2.01 and a beta of 1.43. The company has a quick ratio of 0.67, a current ratio of 0.69 and a debt-to-equity ratio of 6.81. Warner Music Group Corp. has a 12-month low of $23.62 and a 12-month high of $38.05. The business’s 50-day moving average price is $33.07 and its two-hundred day moving average price is $34.12.

Warner Music Group (NASDAQ:WMG) last announced its quarterly earnings results on Thursday, May 9th. The company reported $0.18 EPS for the quarter, beating analysts’ consensus estimates of $0.11 by $0.07. Warner Music Group had a return on equity of 120.42% and a net margin of 8.28%. The company had revenue of $1.49 billion during the quarter, compared to analysts’ expectations of $1.48 billion. During the same period in the prior year, the company earned $0.06 EPS. Warner Music Group’s revenue was up 6.8% compared to the same quarter last year. As a group, analysts expect that Warner Music Group Corp. will post 0.99 earnings per share for the current fiscal year.

Warner Music Group Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 3rd. Investors of record on Thursday, May 23rd will be issued a $0.17 dividend. The ex-dividend date of this dividend is Wednesday, May 22nd. This represents a $0.68 dividend on an annualized basis and a yield of 2.23%. Warner Music Group’s dividend payout ratio (DPR) is presently 68.00%.

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.