Warner Music Group Corp. (NASDAQ:WMG) Shares Sold by Allspring Global Investments Holdings LLC

Allspring Global Investments Holdings LLC reduced its position in shares of Warner Music Group Corp. (NASDAQ:WMG) by 80.4% during the 4th quarter, Holdings Channel.com reports. The firm owned 430,697 shares of the company’s stock after selling 1,762,343 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in Warner Music Group were worth $15,415,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of WMG. Hahn Capital Management LLC purchased a new stake in Warner Music Group in the 4th quarter valued at about $4,863,000. Schonfeld Strategic Advisors LLC grew its holdings in Warner Music Group by 1,711.7% in the third quarter. Schonfeld Strategic Advisors LLC now owns 903,241 shares of the company’s stock valued at $28,362,000 after purchasing an additional 853,384 shares during the period. Charles Schwab Investment Management Inc. increased its position in Warner Music Group by 31.7% during the third quarter. Charles Schwab Investment Management Inc. now owns 801,840 shares of the company’s stock worth $25,178,000 after purchasing an additional 193,221 shares during the last quarter. DigitalBridge Group Inc. increased its position in Warner Music Group by 46.3% during the third quarter. DigitalBridge Group Inc. now owns 479,878 shares of the company’s stock worth $15,068,000 after purchasing an additional 151,778 shares during the last quarter. Finally, Vanguard Group Inc. raised its stake in Warner Music Group by 2.8% during the third quarter. Vanguard Group Inc. now owns 10,984,798 shares of the company’s stock worth $344,923,000 after purchasing an additional 302,892 shares during the period. 96.88% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of analysts have recently commented on WMG shares. Guggenheim dropped their price objective on Warner Music Group from $46.00 to $45.00 and set a “buy” rating for the company in a report on Friday, April 5th. Redburn Atlantic upgraded Warner Music Group from a “sell” rating to a “neutral” rating and upped their price target for the stock from $17.00 to $21.00 in a research note on Monday, February 5th. Five analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. Based on data from MarketBeat, Warner Music Group currently has an average rating of “Moderate Buy” and an average price target of $36.81.

Warner Music Group Trading Up 0.1 %

WMG opened at $33.46 on Tuesday. The firm’s 50 day moving average is $34.33 and its 200-day moving average is $33.99. Warner Music Group Corp. has a 52-week low of $23.62 and a 52-week high of $38.05. The company has a quick ratio of 0.67, a current ratio of 0.70 and a debt-to-equity ratio of 6.50. The firm has a market capitalization of $17.33 billion, a P/E ratio of 38.02, a P/E/G ratio of 2.10 and a beta of 1.46.

Warner Music Group (NASDAQ:WMG) last released its quarterly earnings results on Wednesday, February 7th. The company reported $0.30 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.43 by ($0.13). The firm had revenue of $1.75 billion for the quarter, compared to analysts’ expectations of $1.68 billion. Warner Music Group had a return on equity of 128.86% and a net margin of 7.42%. Analysts expect that Warner Music Group Corp. will post 0.99 EPS for the current fiscal year.

Warner Music Group Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, March 1st. Stockholders of record on Thursday, February 22nd were given a dividend of $0.17 per share. This represents a $0.68 dividend on an annualized basis and a dividend yield of 2.03%. The ex-dividend date was Wednesday, February 21st. Warner Music Group’s payout ratio is currently 77.27%.

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.