Warner Music Group Corp. $WMG Shares Sold by Campbell & CO Investment Adviser LLC

Campbell & CO Investment Adviser LLC decreased its holdings in shares of Warner Music Group Corp. (NASDAQ:WMG) by 65.5% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 8,618 shares of the company’s stock after selling 16,340 shares during the quarter. Campbell & CO Investment Adviser LLC’s holdings in Warner Music Group were worth $235,000 at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of the business. Keystone Financial Services grew its holdings in shares of Warner Music Group by 3.7% during the second quarter. Keystone Financial Services now owns 9,619 shares of the company’s stock valued at $262,000 after purchasing an additional 342 shares during the last quarter. USS Investment Management Ltd boosted its position in Warner Music Group by 1.3% during the 1st quarter. USS Investment Management Ltd now owns 29,448 shares of the company’s stock valued at $924,000 after purchasing an additional 387 shares during the period. State of Michigan Retirement System grew its stake in Warner Music Group by 1.2% during the 2nd quarter. State of Michigan Retirement System now owns 35,100 shares of the company’s stock worth $956,000 after buying an additional 400 shares during the last quarter. MetLife Investment Management LLC increased its position in Warner Music Group by 0.7% in the first quarter. MetLife Investment Management LLC now owns 77,901 shares of the company’s stock worth $2,442,000 after buying an additional 566 shares during the period. Finally, Blair William & Co. IL lifted its stake in Warner Music Group by 7.9% in the first quarter. Blair William & Co. IL now owns 8,575 shares of the company’s stock valued at $269,000 after buying an additional 625 shares during the last quarter. Institutional investors own 96.88% of the company’s stock.

Warner Music Group Trading Up 0.3%

Shares of NASDAQ:WMG opened at $30.44 on Tuesday. The company has a 50 day moving average of $32.47 and a 200-day moving average of $30.46. The company has a current ratio of 0.66, a quick ratio of 0.64 and a debt-to-equity ratio of 5.37. The firm has a market cap of $15.87 billion, a P/E ratio of 53.40, a P/E/G ratio of 0.95 and a beta of 1.30. Warner Music Group Corp. has a twelve month low of $25.56 and a twelve month high of $36.64.

Warner Music Group Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 2nd. Shareholders of record on Wednesday, November 19th will be paid a dividend of $0.19 per share. This represents a $0.76 dividend on an annualized basis and a yield of 2.5%. The ex-dividend date of this dividend is Wednesday, November 19th. Warner Music Group’s dividend payout ratio (DPR) is presently 133.33%.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on WMG shares. Tigress Financial increased their price objective on shares of Warner Music Group from $44.00 to $45.00 and gave the stock a “buy” rating in a report on Wednesday, September 10th. Zacks Research cut shares of Warner Music Group from a “hold” rating to a “strong sell” rating in a research report on Friday, October 10th. Bank of America lifted their price target on Warner Music Group from $33.00 to $36.00 and gave the company a “neutral” rating in a report on Wednesday, October 1st. Cowen reiterated a “buy” rating on shares of Warner Music Group in a research report on Thursday, August 7th. Finally, JPMorgan Chase & Co. increased their price objective on Warner Music Group from $36.00 to $40.00 and gave the stock an “overweight” rating in a report on Wednesday, October 8th. One research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating, ten have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $35.76.

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.