Warner Music Group Corp. (NASDAQ:WMG) Shares Sold by E. Ohman J or Asset Management AB

E. Ohman J or Asset Management AB lessened its position in Warner Music Group Corp. (NASDAQ:WMG) by 11.6% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 963,404 shares of the company’s stock after selling 126,834 shares during the quarter. E. Ohman J or Asset Management AB owned about 0.19% of Warner Music Group worth $29,866,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. JPMorgan Chase & Co. lifted its holdings in Warner Music Group by 37.1% in the 3rd quarter. JPMorgan Chase & Co. now owns 8,754,504 shares of the company’s stock valued at $274,016,000 after purchasing an additional 2,370,973 shares in the last quarter. Mawer Investment Management Ltd. boosted its position in Warner Music Group by 2,699.4% during the third quarter. Mawer Investment Management Ltd. now owns 8,217,467 shares of the company’s stock worth $257,207,000 after acquiring an additional 7,923,926 shares during the last quarter. D1 Capital Partners L.P. grew its stake in Warner Music Group by 91.5% during the 3rd quarter. D1 Capital Partners L.P. now owns 5,264,498 shares of the company’s stock valued at $164,779,000 after acquiring an additional 2,514,715 shares in the last quarter. Geode Capital Management LLC raised its holdings in Warner Music Group by 1.9% in the 3rd quarter. Geode Capital Management LLC now owns 2,628,263 shares of the company’s stock valued at $82,284,000 after acquiring an additional 49,166 shares during the last quarter. Finally, State Street Corp lifted its stake in Warner Music Group by 0.5% in the 3rd quarter. State Street Corp now owns 2,247,719 shares of the company’s stock worth $70,354,000 after purchasing an additional 10,222 shares in the last quarter. 96.88% of the stock is owned by institutional investors and hedge funds.

Warner Music Group Stock Performance

Shares of Warner Music Group stock opened at $31.90 on Tuesday. The stock has a market capitalization of $16.52 billion, a price-to-earnings ratio of 38.43, a price-to-earnings-growth ratio of 0.94 and a beta of 1.35. The company has a debt-to-equity ratio of 5.95, a current ratio of 0.68 and a quick ratio of 0.65. The business has a 50-day moving average of $31.21 and a 200 day moving average of $30.75. Warner Music Group Corp. has a 12 month low of $27.06 and a 12 month high of $38.05.

Warner Music Group (NASDAQ:WMG) last posted its quarterly earnings data on Thursday, November 21st. The company reported $0.08 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 business had revenue of $1.63 billion during the quarter, compared to analysts’ expectations of $1.59 billion. During the same period in the previous year, the business posted $0.34 EPS. The company’s revenue for the quarter was up 2.8% compared to the same quarter last year. As a group, sell-side analysts forecast that Warner Music Group Corp. will post 1.31 earnings per share for the current year.

Warner Music Group Dividend Announcement

The business 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 annualized dividend and a dividend yield of 2.26%. The ex-dividend date of this dividend was Tuesday, November 19th. Warner Music Group’s payout ratio is currently 86.75%.

Analyst Upgrades and Downgrades

Several research firms recently commented on WMG. JPMorgan Chase & Co. cut their price target on Warner Music Group from $41.00 to $40.00 and set an “overweight” rating for the company in a report on Friday, November 22nd. Evercore ISI cut their target price on Warner Music Group from $36.00 to $35.00 and set an “outperform” rating for the company in a research note on Thursday, January 9th. Loop Capital dropped their price objective on shares of Warner Music Group from $38.00 to $35.00 and set a “hold” rating for the company in a report on Monday, November 25th. Macquarie reaffirmed a “neutral” rating and set a $30.00 target price on shares of Warner Music Group in a research note on Thursday, January 30th. Finally, UBS Group dropped their price target on shares of Warner Music Group from $43.00 to $41.00 and set a “buy” rating for the company in a research note on Friday, January 10th. Two analysts have rated the stock with a sell rating, five have assigned a hold rating and nine have assigned a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $35.31.

Insider Activity at Warner Music Group

In other Warner Music Group news, Director Lincoln E. Benet sold 35,000 shares of the business’s stock in a transaction that occurred on Friday, December 20th. The shares were sold at an average price of $30.96, for a total transaction of $1,083,600.00. Following the completion of the transaction, the director now owns 242,360 shares in the company, valued at $7,503,465.60. The trade was a 12.62 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 72.21% of the stock is currently owned by company insiders.

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.