Warner Music Group Corp. $WMG Shares Sold by Advisors Asset Management Inc.

Advisors Asset Management Inc. lessened its position in shares of Warner Music Group Corp. (NASDAQ:WMG) by 54.1% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 15,559 shares of the company’s stock after selling 18,343 shares during the quarter. Advisors Asset Management Inc.’s holdings in Warner Music Group were worth $424,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in the business. Quarry LP acquired a new stake in Warner Music Group in the 1st quarter valued at about $54,000. CWM LLC lifted its holdings in shares of Warner Music Group by 528.0% in the second quarter. CWM LLC now owns 1,884 shares of the company’s stock valued at $51,000 after purchasing an additional 1,584 shares in the last quarter. PNC Financial Services Group Inc. lifted its holdings in shares of Warner Music Group by 45.2% in the first quarter. PNC Financial Services Group Inc. now owns 2,820 shares of the company’s stock valued at $88,000 after purchasing an additional 878 shares in the last quarter. Caitong International Asset Management Co. Ltd acquired a new stake in shares of Warner Music Group in the first quarter valued at approximately $104,000. Finally, Bayforest Capital Ltd increased its stake in shares of Warner Music Group by 170.1% during the 1st quarter. Bayforest Capital Ltd now owns 3,517 shares of the company’s stock worth $110,000 after purchasing an additional 2,215 shares in the last quarter. 96.88% of the stock is currently owned by hedge funds and other institutional investors.

Warner Music Group Stock Down 1.6%

Shares of NASDAQ WMG opened at $27.79 on Wednesday. The stock has a market capitalization of $14.49 billion, a PE ratio of 48.76, a P/E/G ratio of 0.95 and a beta of 1.30. The company has a quick ratio of 0.64, a current ratio of 0.66 and a debt-to-equity ratio of 5.37. The firm has a fifty day moving average of $31.46 and a 200-day moving average of $30.49. Warner Music Group Corp. has a 52-week low of $25.56 and a 52-week high of $36.64.

Warner Music Group (NASDAQ:WMG) last issued its earnings results on Thursday, November 20th. The company reported $0.21 earnings per share for the quarter, missing analysts’ consensus estimates of $0.35 by ($0.14). The firm had revenue of $1.87 billion during the quarter, compared to analyst estimates of $1.68 billion. Warner Music Group had a net margin of 4.59% and a return on equity of 39.95%. Warner Music Group’s revenue was up 14.6% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.08 EPS. On average, analysts anticipate that Warner Music Group Corp. will post 1.39 EPS for the current year.

Warner Music Group Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, December 2nd. Investors of record on Wednesday, November 19th were given a dividend of $0.19 per share. This represents a $0.76 dividend on an annualized basis and a yield of 2.7%. The ex-dividend date of this dividend was Wednesday, November 19th. Warner Music Group’s dividend payout ratio is 108.57%.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on the company. Wells Fargo & Company set a $39.00 target price on Warner Music Group and gave the company an “overweight” rating in a research note on Tuesday, October 14th. Zacks Research raised Warner Music Group from a “strong sell” rating to a “hold” rating in a report on Tuesday, November 25th. UBS Group set a $33.00 price objective on Warner Music Group in a research report on Friday, November 21st. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Warner Music Group in a research note on Monday. Finally, Citigroup boosted their target price on shares of Warner Music Group from $33.00 to $41.00 and gave the company a “buy” rating in a research note on Tuesday, September 9th. One investment analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and ten have assigned a Hold rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $34.88.

About Warner Music Group

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.