Warner Music Group Corp. (NASDAQ:WMG) Position Lowered by TCW Group Inc.

TCW Group Inc. reduced its position in Warner Music Group Corp. (NASDAQ:WMGFree Report) by 24.9% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 36,912 shares of the company’s stock after selling 12,237 shares during the quarter. TCW Group Inc.’s holdings in Warner Music Group were worth $1,155,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of the company. Benjamin Edwards Inc. grew its position in shares of Warner Music Group by 74.5% in the 2nd quarter. Benjamin Edwards Inc. now owns 953 shares of the company’s stock worth $29,000 after acquiring an additional 407 shares in the last quarter. Concord Wealth Partners bought a new stake in Warner Music Group during the third quarter valued at $30,000. ORG Partners LLC raised its holdings in shares of Warner Music Group by 5,790.5% during the second quarter. ORG Partners LLC now owns 1,237 shares of the company’s stock worth $37,000 after purchasing an additional 1,216 shares during the period. Assetmark Inc. lifted its position in shares of Warner Music Group by 9,400.0% in the 3rd quarter. Assetmark Inc. now owns 1,235 shares of the company’s stock worth $39,000 after buying an additional 1,222 shares during the last quarter. Finally, ORG Wealth Partners LLC bought a new position in shares of Warner Music Group in the 3rd quarter worth about $73,000. Institutional investors and hedge funds own 96.88% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on the stock. Guggenheim reiterated a “buy” rating and set a $44.00 price objective on shares of Warner Music Group in a research note on Wednesday, December 4th. Bank of America reissued an “underperform” rating and issued a $30.00 price target (down previously from $33.00) on shares of Warner Music Group in a report on Friday, October 4th. Macquarie restated a “neutral” rating and set a $30.00 price objective on shares of Warner Music Group in a research report on Friday, November 22nd. Barclays dropped their target price on Warner Music Group from $32.00 to $31.00 and set an “equal weight” rating on the stock in a research report on Friday, November 22nd. Finally, Citigroup boosted their price target on shares of Warner Music Group from $31.00 to $34.00 and gave the company a “neutral” rating in a report on Friday, November 29th. Two research analysts have rated the stock with a sell rating, five have given a hold rating and eight have issued a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $35.67.

Check Out Our Latest Report on Warner Music Group

Warner Music Group Stock Performance

Shares of WMG opened at $32.74 on Friday. The firm has a market capitalization of $16.96 billion, a PE ratio of 39.45, a P/E/G ratio of 0.71 and a beta of 1.35. The company has a quick ratio of 0.65, a current ratio of 0.68 and a debt-to-equity ratio of 5.95. The firm has a 50-day moving average price of $32.15 and a 200 day moving average price of $30.68. Warner Music Group Corp. has a 52-week low of $27.06 and a 52-week high of $38.05.

Warner Music Group (NASDAQ:WMGGet Free Report) last posted its quarterly earnings data on Thursday, November 21st. The company reported $0.08 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.28 by ($0.20). Warner Music Group had a net margin of 6.77% and a return on equity of 69.29%. The company had revenue of $1.63 billion during the quarter, compared to the consensus estimate of $1.59 billion. During the same quarter last year, the business earned $0.34 earnings per share. The company’s revenue was up 2.8% on a year-over-year basis. On average, sell-side analysts anticipate that Warner Music Group Corp. will post 1.34 earnings per share for the current fiscal year.

Warner Music Group Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, December 3rd. Stockholders of record on Tuesday, November 19th were paid a $0.18 dividend. This represents a $0.72 dividend on an annualized basis and a dividend yield of 2.20%. The ex-dividend date was Tuesday, November 19th. Warner Music Group’s dividend payout ratio is presently 86.75%.

Warner Music Group Company 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.

Featured Articles

Want to see what other hedge funds are holding WMG? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Warner Music Group Corp. (NASDAQ:WMGFree Report).

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

Receive News & Ratings for Warner Music Group Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Warner Music Group and related companies with MarketBeat.com's FREE daily email newsletter.