2 weeks Ago By ABMN Staff
Wells Fargo & Company MN grew its holdings in shares of Warner Music Group Corp. ( NASDAQ:WMG – Free Report ) by 2.8% during the fourth quarter, Holdings Channel reports.
The firm owned 66,843 shares of the company’s stock after acquiring an additional 1,805 shares during the quarter. Wells Fargo & Company MN’s holdings in Warner Music Group were worth $2,072,000 as of its most recent filing with the SEC. A number of other institutional investors and hedge funds have also made changes to their positions in WMG.
SBI Securities Co. Ltd. bought a new stake in Warner Music Group in the 4th quarter valued at about $35,000.
GAMMA Investing LLC grew its stake in shares of Warner Music Group by 379.5% in the 4th quarter. GAMMA Investing LLC now owns 1,774 shares of the company’s stock worth $55,000 after purchasing an additional 1,404 shares during the last quarter.
Rosenberg Matthew Hamilton lifted its position in shares of Warner Music Group by 14.0% during the 4th quarter. Rosenberg Matthew Hamilton now owns 3,705 shares of the company’s stock valued at $115,000 after acquiring an additional 455 shares during the last quarter.
Fifth Third Bancorp increased its stake in Warner Music Group by 13.1% in the 4th quarter. Fifth Third Bancorp now owns 3,967 shares of the company’s stock worth $123,000 after purchasing an additional 458 shares in the last quarter.
Finally, Corient Private Wealth LLC purchased a new stake in shares of Warner Music Group in the 4th quarter valued at approximately $218,000. 96.88% of the stock is currently owned by institutional investors and hedge funds.
Warner Music Group Trading Up 2.1 % Shares of WMG opened at $29.83 on Friday.
The stock’s fifty day simple moving average is $31.66 and its 200-day simple moving average is $31.81.
The company has a quick ratio of 0.67, a current ratio of 0.69 and a debt-to-equity ratio of 5.
67. The firm has a market capitalization of $15.52 billion, a PE ratio of 30.
44, a price-to-earnings-growth ratio of 1.03 and a beta of 1.32.
Warner Music Group Corp. has a 12-month low of $27.06 and a 12-month high of $36.
64. Warner Music Group Dividend Announcement The firm also recently announced a quarterly dividend, which was paid on Tuesday, March 4th. Shareholders of record on Monday, February 24th were given a dividend of $0.
18 per share. This represents a $0.72 annualized dividend and a dividend yield of 2.
41%. The ex-dividend date of this dividend was Monday, February 24th. Warner Music Group’s payout ratio is 73.
47%. Wall Street Analyst Weigh In A number of brokerages have recently weighed in on WMG. Evercore ISI dropped their target price on Warner Music Group from $36.
00 to $35.00 and set an “outperform” rating on the stock in a report on Thursday, January 9th. Macquarie reiterated a “neutral” rating and issued a $30.
00 target price on shares of Warner Music Group in a research note on Thursday, January 30th. Guggenheim reissued a “buy” rating and issued a $40.00 price objective on shares of Warner Music Group in a research report on Friday, February 7th.
FBN Securities assumed coverage on Warner Music Group in a report on Friday, March 28th. They issued a “sector perform” rating and a $35.00 price target for the company.
Finally, Morgan Stanley reissued an “equal weight” rating and issued a $32.00 price target (down previously from $37.00) on shares of Warner Music Group in a research report on Monday, April 21st.
Two research analysts have rated the stock with a sell rating, six have assigned a hold rating and nine have issued a buy rating to the company’s stock. Based on data from MarketBeat, Warner Music Group has an average rating of “Hold” and a consensus target price of $35.47.
Check Out Our Latest Analysis on WMG Insider Activity In other Warner Music Group news, EVP Timothy Matusch sold 1,000 shares of the company’s stock in a transaction that occurred on Wednesday, April 2nd. The shares were sold at an average price of $31.43, for a total value of $31,430.
00. Following the completion of the sale, the executive vice president now owns 87,649 shares of the company’s stock, valued at approximately $2,754,808.07.
This represents a 1.13 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website .
Also, Director Valentin Blavatnik sold 28,230 shares of Warner Music Group stock in a transaction dated Thursday, February 20th. The stock was sold at an average price of $35.45, for a total value of $1,000,753.
50. Following the transaction, the director now owns 68,264 shares in the company, valued at approximately $2,419,958.80.
This represents a 29.26 % decrease in their ownership of the stock. The disclosure for this sale can be found here .
Insiders have sold a total of 30,333 shares of company stock valued at $1,072,432 in the last 90 days. 72.21% of the stock is owned by company insiders.
About Warner Music Group ( 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. Read More 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.
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