Warner Music Group Corp. (NASDAQ:WMG) Shares Bought by Geode Capital Management LLC

Geode Capital Management LLC raised its position in Warner Music Group Corp. (NASDAQ:WMG) by 0.6% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 2,644,673 shares of the company’s stock after acquiring an additional 16,410 shares during the quarter. Geode Capital Management LLC’s holdings in Warner Music Group were worth $82,009,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. JPMorgan Chase & Co. boosted 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 worth $274,016,000 after buying an additional 2,370,973 shares during the last quarter. Assetmark Inc. boosted its holdings in Warner Music Group by 7,659.8% in the 4th quarter. Assetmark Inc. now owns 95,833 shares of the company’s stock worth $2,971,000 after buying an additional 94,598 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in Warner Music Group by 5.4% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 953,549 shares of the company’s stock worth $29,560,000 after buying an additional 48,772 shares during the last quarter. Exchange Traded Concepts LLC boosted its holdings in Warner Music Group by 84.8% in the 4th quarter. Exchange Traded Concepts LLC now owns 31,616 shares of the company’s stock worth $980,000 after buying an additional 14,507 shares during the last quarter. Finally, Hahn Capital Management LLC boosted its holdings in Warner Music Group by 31.3% in the 4th quarter. Hahn Capital Management LLC now owns 255,101 shares of the company’s stock worth $7,908,000 after buying an additional 60,882 shares during the last quarter. 96.88% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on WMG. Guggenheim reissued a “buy” rating and issued a $40.00 target price on shares of Warner Music Group in a research note on Friday, February 7th. Citigroup raised shares of Warner Music Group from a “neutral” rating to a “buy” rating and raised their target price for the stock from $34.00 to $42.00 in a research note on Friday, February 14th. FBN Securities began coverage on shares of Warner Music Group in a research note on Friday, March 28th. They issued a “sector perform” rating and a $35.00 target price on the stock. Evercore ISI decreased their target price on shares of Warner Music Group from $36.00 to $35.00 and set an “outperform” rating on the stock in a research note on Thursday, January 9th. Finally, UBS Group decreased their target price on shares of Warner Music Group from $43.00 to $41.00 and set a “buy” rating on the stock in a research note on Friday, January 10th. Two investment analysts have rated the stock with a sell rating, five have assigned a hold rating and ten have given a buy rating to the company’s stock. According to data from MarketBeat, Warner Music Group has a consensus rating of “Hold” and a consensus target price of $35.76.

Warner Music Group Stock Down 2.8 %

Warner Music Group stock opened at $28.91 on Friday. Warner Music Group Corp. has a fifty-two week low of $27.06 and a fifty-two week high of $36.64. The company has a debt-to-equity ratio of 5.67, a quick ratio of 0.67 and a current ratio of 0.69. The firm has a 50 day moving average price of $32.78 and a 200 day moving average price of $31.99. The company has a market capitalization of $15.04 billion, a PE ratio of 29.50, a price-to-earnings-growth ratio of 1.03 and a beta of 1.32.

Warner Music Group (NASDAQ:WMG) last posted its earnings results on Thursday, February 6th. The company reported $0.45 earnings per share for the quarter, beating the consensus estimate of $0.34 by $0.11. Warner Music Group had a net margin of 8.07% and a return on equity of 79.01%. Research analysts expect that Warner Music Group Corp. will post 1.39 earnings per share for the current year.

Warner Music Group Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, March 4th. Investors of record on Monday, February 24th were issued a $0.18 dividend. The ex-dividend date was Monday, February 24th. This represents a $0.72 annualized dividend and a yield of 2.49%. Warner Music Group’s dividend payout ratio (DPR) is presently 73.47%.

Insider Activity at Warner Music Group

In other Warner Music Group news, EVP Timothy Matusch sold 1,000 shares of the business’s stock in a transaction 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 transaction, the executive vice president now owns 87,649 shares in the company, valued at $2,754,808.07. The trade was a 1.13 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Valentin Blavatnik sold 28,230 shares of the business’s stock in a transaction on Thursday, February 20th. The stock was sold at an average price of $35.45, for a total transaction of $1,000,753.50. Following the completion of the transaction, the director now owns 68,264 shares of the company’s stock, valued at approximately $2,419,958.80. This trade represents a 29.26 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 30,333 shares of company stock worth $1,072,432. Insiders own 72.21% of the company’s stock.

Warner Music Group Company 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.