Advisors Asset Management Inc. Raises Stock Holdings in Warner Music Group Corp. (NASDAQ:WMG)

Advisors Asset Management Inc. boosted its position in Warner Music Group Corp. (NASDAQ:WMG) by 10.7% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 34,328 shares of the company’s stock after purchasing an additional 3,314 shares during the quarter. Advisors Asset Management Inc.’s holdings in Warner Music Group were worth $1,074,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in WMG. Bayesian Capital Management LP bought a new position in shares of Warner Music Group in the 1st quarter worth about $759,000. Aristeia Capital L.L.C. bought a new position in shares of Warner Music Group during the second quarter valued at approximately $606,000. Mawer Investment Management Ltd. lifted its holdings in shares of 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 valued at $257,207,000 after purchasing an additional 7,923,926 shares during the last quarter. Perpetual Ltd bought a new stake in shares of Warner Music Group in the 3rd quarter worth approximately $15,766,000. Finally, Amalgamated Bank bought a new position in Warner Music Group during the 2nd quarter valued at approximately $1,956,000. Hedge funds and other institutional investors own 96.88% of the company’s stock.

Insider Buying and Selling

In related news, CEO Max Lousada sold 135,324 shares of the firm’s stock in a transaction on Thursday, September 5th. The stock was sold at an average price of $28.17, for a total value of $3,812,077.08. Following the transaction, the chief executive officer now directly owns 2,725,964 shares of the company’s stock, valued at approximately $76,790,405.88. This trade represents a 4.73 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Over the last quarter, insiders have sold 628,205 shares of company stock valued at $17,628,757. 73.35% of the stock is owned by insiders.

Warner Music Group Stock Up 0.6 %

Warner Music Group stock opened at $32.05 on Tuesday. The stock has a market cap of $16.60 billion, a PE ratio of 38.61, a price-to-earnings-growth ratio of 1.00 and a beta of 1.37. The company has a debt-to-equity ratio of 5.95, a quick ratio of 0.65 and a current ratio of 0.68. The stock has a fifty day moving average of $31.82 and a 200 day moving average of $30.61. Warner Music Group Corp. has a one year low of $27.06 and a one year high of $38.05.

Warner Music Group Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 3rd. Investors of record on Tuesday, November 19th will be issued a $0.18 dividend. This represents a $0.72 dividend on an annualized basis and a dividend yield of 2.25%. The ex-dividend date of this dividend is Tuesday, November 19th. Warner Music Group’s payout ratio is 86.75%.

Analyst Ratings Changes

WMG has been the topic of several analyst reports. Deutsche Bank Aktiengesellschaft dropped their target price on Warner Music Group from $42.00 to $36.00 and set a “buy” rating on the stock in a report on Tuesday, August 13th. Bank of America reissued an “underperform” rating and set a $30.00 price objective (down from $33.00) on shares of Warner Music Group in a research report on Friday, October 4th. Macquarie reaffirmed a “neutral” rating and issued a $30.00 target price on shares of Warner Music Group in a report on Friday. JPMorgan Chase & Co. cut their price target on shares of Warner Music Group from $41.00 to $40.00 and set an “overweight” rating on the stock in a report on Friday. Finally, Loop Capital decreased 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. Two research analysts have rated the stock with a sell rating, four have given a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $35.79.

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.