Warner Music Group Corp. $WMG Shares Sold by Candriam S.C.A.

Candriam S.C.A. lessened its holdings in Warner Music Group Corp. (NASDAQ:WMG) by 58.7% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 243,721 shares of the company’s stock after selling 346,832 shares during the quarter. Candriam S.C.A.’s holdings in Warner Music Group were worth $6,754,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Alps Advisors Inc. purchased a new stake in Warner Music Group during the third quarter worth approximately $548,000. Lindsell Train Ltd boosted its stake in Warner Music Group by 10.0% in the third quarter. Lindsell Train Ltd now owns 55,000 shares of the company’s stock valued at $1,519,000 after acquiring an additional 5,000 shares in the last quarter. Chicago Partners Investment Group LLC purchased a new position in shares of Warner Music Group during the third quarter worth about $383,000. Oregon Public Employees Retirement Fund lifted its holdings in shares of Warner Music Group by 1.3% in the 3rd quarter. Oregon Public Employees Retirement Fund now owns 30,610 shares of the company’s stock valued at $845,000 after purchasing an additional 400 shares during the last quarter. Finally, Viewpoint Investment Partners Corp purchased a new stake in shares of Warner Music Group in the 3rd quarter valued at about $398,000. 96.88% of the stock is owned by hedge funds and other institutional investors.

Warner Music Group Price Performance

Shares of NASDAQ:WMG opened at $31.84 on Wednesday. The company has a 50-day simple moving average of $29.22 and a 200-day simple moving average of $28.64. Warner Music Group Corp. has a one year low of $23.34 and a one year high of $35.42. The company has a debt-to-equity ratio of 4.94, a quick ratio of 0.72 and a current ratio of 0.73. The stock has a market capitalization of $16.66 billion, a price-to-earnings ratio of 23.38, a PEG ratio of 0.44 and a beta of 1.34.

Warner Music Group Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 1st. Investors of record on Friday, November 20th will be issued a dividend of $0.20 per share. The ex-dividend date of this dividend is Friday, November 20th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 2.5%. Warner Music Group’s dividend payout ratio (DPR) is currently 63.49%.

Analysts Set New Price Targets

WMG has been the subject of a number of research analyst reports. Wall Street Zen cut Warner Music Group from a “buy” rating to a “hold” rating in a research report on Saturday, July 18th. Guggenheim reiterated a “buy” rating and issued a $36.00 price objective on shares of Warner Music Group in a research note on Tuesday, September 29th. Morgan Stanley reiterated an “overweight” rating and issued a $36.00 price objective on shares of Warner Music Group in a research note on Thursday, August 6th. Zacks Research raised Warner Music Group from a “strong sell” rating to a “hold” rating in a report on Friday, October 30th. Finally, UBS Group raised their target price on shares of Warner Music Group from $42.00 to $43.00 and gave the stock a “buy” rating in a research report on Thursday, October 1st. One equities research analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and four have assigned a Hold rating to the company. Based on data from MarketBeat, Warner Music Group presently has a consensus rating of “Moderate Buy” and an average target price of $38.30.

About Warner Music Group

Warner Music Group is a global music entertainment company with two main businesses: recorded music and music publishing. Its recorded music operations discover and develop artists, release and market recordings, and distribute music through digital services and physical formats. The company works with artists across a range of genres and career stages. Through its recorded music labels, including Atlantic Records, Warner Records and Elektra Records, Warner Music Group supports artists with services such as artist development, marketing and distribution.