E. Ohman J or Asset Management AB Lowers Stake in Warner Music Group Corp. $WMG

E. Ohman J or Asset Management AB lessened its stake in shares of Warner Music Group Corp. (NASDAQ:WMG) by 3.5% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,011,770 shares of the company’s stock after selling 36,307 shares during the quarter. E. Ohman J or Asset Management AB owned approximately 0.19% of Warner Music Group worth $34,461,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in WMG. Norges Bank purchased a new stake in shares of Warner Music Group during the 2nd quarter worth $31,485,000. Darsana Capital Partners LP lifted its position in shares of Warner Music Group by 14.3% during the second quarter. Darsana Capital Partners LP now owns 8,000,000 shares of the company’s stock valued at $217,920,000 after buying an additional 1,000,000 shares during the last quarter. BNP Paribas Financial Markets boosted its holdings in shares of Warner Music Group by 2,198.4% in the 1st quarter. BNP Paribas Financial Markets now owns 999,613 shares of the company’s stock valued at $31,338,000 after buying an additional 956,121 shares in the last quarter. Millennium Management LLC grew its position in shares of Warner Music Group by 2,000.6% in the 1st quarter. Millennium Management LLC now owns 810,315 shares of the company’s stock worth $25,403,000 after buying an additional 771,740 shares during the last quarter. Finally, Assenagon Asset Management S.A. purchased a new position in shares of Warner Music Group in the 3rd quarter worth approximately $16,873,000. 96.88% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on WMG shares. Wells Fargo & Company set a $39.00 target price on shares of Warner Music Group and gave the company an “overweight” rating in a research report on Tuesday, October 14th. Citigroup increased their price objective on Warner Music Group from $33.00 to $41.00 and gave the company a “buy” rating in a report on Tuesday, September 9th. UBS Group set a $33.00 price objective on Warner Music Group in a research report on Friday, November 21st. Wall Street Zen raised Warner Music Group from a “hold” rating to a “buy” rating in a research report on Saturday, November 22nd. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of Warner Music Group in a report on Monday, December 22nd. Eleven analysts have rated the stock with a Buy rating and ten have assigned a Hold rating to the company’s stock. According to data from MarketBeat, Warner Music Group has a consensus rating of “Moderate Buy” and a consensus target price of $34.94.

Warner Music Group Stock Performance

Shares of WMG stock opened at $29.95 on Friday. The business has a fifty day moving average of $29.87 and a 200 day moving average of $30.75. Warner Music Group Corp. has a 1 year low of $25.56 and a 1 year high of $36.64. The company has a debt-to-equity ratio of 5.77, a current ratio of 0.66 and a quick ratio of 0.64. The firm has a market capitalization of $15.65 billion, a price-to-earnings ratio of 42.79, a price-to-earnings-growth ratio of 0.71 and a beta of 1.32.

Warner Music Group (NASDAQ:WMG) last announced its quarterly earnings data 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). Warner Music Group had a net margin of 5.44% and a return on equity of 47.78%. The firm had revenue of $1.87 billion during the quarter, compared to analyst estimates of $1.68 billion. During the same period in the prior year, the company posted $0.08 earnings per share. The firm’s revenue for the quarter was up 14.6% on a year-over-year basis. As a group, research analysts expect that Warner Music Group Corp. will post 1.39 earnings per share for the current year.

Warner Music Group Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, December 2nd. Shareholders of record on Wednesday, November 19th were given a dividend of $0.19 per share. The ex-dividend date of this dividend was Wednesday, November 19th. This represents a $0.76 dividend on an annualized basis and a yield of 2.5%. Warner Music Group’s dividend payout ratio (DPR) is currently 108.57%.

Warner Music Group Company Profile

Warner Music Group is a major global music company that operates across recorded music and music publishing. Its recorded-music business comprises a portfolio of well-known labels—including Atlantic, Warner Records and Parlophone—as well as distribution and artist-services operations that support both established and emerging artists. The company’s publishing arm, Warner Chappell Music, manages songwriting catalogs and administers rights for compositions across multiple media, providing licensing for film, television, advertising and other commercial uses.

WMG’s activities span the full music value chain: signing and developing artists, producing and marketing recordings, distributing music through physical channels and streaming platforms, and monetizing rights through licensing, synchronization and neighboring-rights collection.