Mackenzie Financial Corp Purchases New Stake in Warner Music Group Corp. (NASDAQ:WMG)

Mackenzie Financial Corp purchased a new stake in shares of Warner Music Group Corp. (NASDAQ:WMG) in the 4th quarter, HoldingsChannel.com reports. The firm purchased 46,485 shares of the company’s stock, valued at approximately $1,664,000.

Several other institutional investors also recently added to or reduced their stakes in WMG. UBS Group AG grew its position in Warner Music Group by 306.2% during the third quarter. UBS Group AG now owns 1,375,254 shares of the company’s stock valued at $43,183,000 after buying an additional 1,036,663 shares during the period. Schonfeld Strategic Advisors LLC lifted its holdings in Warner Music Group by 1,711.7% during 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 last quarter. Healthcare of Ontario Pension Plan Trust Fund purchased a new stake in Warner Music Group during the third quarter valued at about $15,207,000. Vanguard Group Inc. lifted its holdings 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 valued at $344,923,000 after purchasing an additional 302,892 shares during the last quarter. Finally, Comgest Global Investors S.A.S. lifted its holdings in Warner Music Group by 181.2% during the third quarter. Comgest Global Investors S.A.S. now owns 459,557 shares of the company’s stock valued at $14,430,000 after purchasing an additional 296,110 shares during the last quarter. Institutional investors own 96.88% of the company’s stock.

Warner Music Group Trading Down 2.8 %

Shares of WMG opened at $32.14 on Wednesday. The firm’s 50 day simple moving average is $33.97 and its 200 day simple moving average is $34.05. The company has a market capitalization of $16.64 billion, a P/E ratio of 36.52, a P/E/G ratio of 2.08 and a beta of 1.46. The company has a debt-to-equity ratio of 6.50, a current ratio of 0.70 and a quick ratio of 0.67. Warner Music Group Corp. has a 1-year low of $23.62 and a 1-year high of $38.05.

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

Warner Music Group Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, March 1st. Investors of record on Thursday, February 22nd were paid a $0.17 dividend. This represents a $0.68 dividend on an annualized basis and a yield of 2.12%. The ex-dividend date was Wednesday, February 21st. Warner Music Group’s dividend payout ratio is currently 77.27%.

Analyst Ratings Changes

Several research firms have commented on WMG. Guggenheim dropped their price objective on shares of Warner Music Group from $46.00 to $45.00 and set a “buy” rating on the stock in a report on Friday, April 5th. Loop Capital upped their price objective on shares of Warner Music Group from $36.00 to $38.00 and gave the company a “hold” rating in a report on Thursday, April 18th. Finally, Redburn Atlantic raised shares of Warner Music Group from a “sell” rating to a “neutral” rating and upped their price objective for the company from $17.00 to $21.00 in a report on Monday, February 5th. Six analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $36.88.

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.