SG Americas Securities LLC Has $1.28 Million Stake in Warner Music Group Corp. $WMG

SG Americas Securities LLC increased its position in Warner Music Group Corp. (NASDAQ:WMG) by 69.9% during the first quarter, Holdings Channel.com reports. The firm owned 50,140 shares of the company’s stock after buying an additional 20,632 shares during the quarter. SG Americas Securities LLC’s holdings in Warner Music Group were worth $1,281,000 as of its most recent SEC filing.

Other hedge funds have also bought and sold shares of the company. Barclays PLC boosted its stake in Warner Music Group by 5,055.5% during the 3rd quarter. Barclays PLC now owns 1,860,687 shares of the company’s stock valued at $63,375,000 after purchasing an additional 1,824,596 shares during the last quarter. QRG Capital Management Inc. purchased a new stake in shares of Warner Music Group in the fourth quarter worth approximately $1,867,000. Tudor Investment Corp ET AL purchased a new stake in shares of Warner Music Group in the third quarter worth approximately $9,705,000. Daytona Street Capital LLC bought a new position in shares of Warner Music Group in the fourth quarter valued at approximately $1,940,000. Finally, UBS Group AG lifted its holdings in shares of Warner Music Group by 44.1% in the fourth quarter. UBS Group AG now owns 3,208,063 shares of the company’s stock valued at $98,391,000 after purchasing an additional 981,912 shares in the last quarter. Institutional investors and hedge funds own 96.88% of the company’s stock.

Warner Music Group Stock Performance

WMG stock opened at $28.28 on Friday. The firm has a market cap of $14.75 billion, a PE ratio of 33.27, a P/E/G ratio of 0.42 and a beta of 1.30. The company has a quick ratio of 0.71, a current ratio of 0.73 and a debt-to-equity ratio of 5.62. The business has a 50 day moving average of $30.20 and a 200-day moving average of $29.13. Warner Music Group Corp. has a 12-month low of $23.34 and a 12-month high of $35.42.

Warner Music Group (NASDAQ:WMG) last issued its quarterly earnings results on Thursday, May 7th. The company reported $0.44 EPS for the quarter, beating analysts’ consensus estimates of $0.30 by $0.14. The company had revenue of $1.73 billion during the quarter, compared to the consensus estimate of $1.61 billion. Warner Music Group had a return on equity of 62.01% and a net margin of 6.34%.Warner Music Group’s revenue was up 16.7% on a year-over-year basis. During the same period last year, the business posted $0.07 earnings per share. As a group, sell-side analysts expect that Warner Music Group Corp. will post 1.52 earnings per share for the current year.

Warner Music Group Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, June 2nd. Stockholders of record on Tuesday, May 26th were given a dividend of $0.19 per share. The ex-dividend date of this dividend was Tuesday, May 26th. This represents a $0.76 annualized dividend and a dividend yield of 2.7%. Warner Music Group’s dividend payout ratio (DPR) is currently 89.41%.

Wall Street Analyst Weigh In

WMG has been the subject of several recent research reports. JPMorgan Chase & Co. upped their price target on Warner Music Group from $40.00 to $43.00 and gave the stock an “overweight” rating in a report on Friday, May 8th. Morgan Stanley set a $39.00 price objective on Warner Music Group in a research note on Friday, May 8th. Sanford C. Bernstein reaffirmed an “outperform” rating on shares of Warner Music Group in a report on Friday, May 8th. Guggenheim upped their target price on shares of Warner Music Group from $34.00 to $36.00 and gave the stock a “buy” rating in a research note on Friday, May 8th. Finally, UBS Group increased their target price on shares of Warner Music Group from $40.00 to $42.00 and gave the company a “buy” rating in a report on Friday, May 8th. Fourteen research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company. According to data from MarketBeat.com, Warner Music Group has an average rating of “Moderate Buy” and a consensus target price of $37.38.

Warner Music Group Company Profile

Warner Music Group is a major global music company that operates across recorded music and music publishing. Its recorded-music business comprises a portfolio of well-known labels—including Atlantic, Warner Records and Parlophone—as well as distribution and artist-services operations that support both established and emerging artists. The company’s publishing arm, Warner Chappell Music, manages songwriting catalogs and administers rights for compositions across multiple media, providing licensing for film, television, advertising and other commercial uses.

WMG’s activities span the full music value chain: signing and developing artists, producing and marketing recordings, distributing music through physical channels and streaming platforms, and monetizing rights through licensing, synchronization and neighboring-rights collection.