Assetmark Inc. Has $11.93 Million Holdings in Warner Music Group Corp. $WMG

Assetmark Inc. raised its holdings in Warner Music Group Corp. (NASDAQ:WMG) by 26.3% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 350,326 shares of the company’s stock after acquiring an additional 72,979 shares during the period. Assetmark Inc. owned about 0.07% of Warner Music Group worth $11,932,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently made changes to their positions in the stock. Campbell & CO Investment Adviser LLC lifted its stake in shares of Warner Music Group by 762.5% in the 3rd quarter. Campbell & CO Investment Adviser LLC now owns 74,332 shares of the company’s stock valued at $2,532,000 after acquiring an additional 65,714 shares during the last quarter. Covalis Capital LLP grew its position in Warner Music Group by 203.1% during the 2nd quarter. Covalis Capital LLP now owns 566,627 shares of the company’s stock worth $15,435,000 after acquiring an additional 379,661 shares during the last quarter. Artisan Partners Limited Partnership increased its holdings in Warner Music Group by 18.1% in the 2nd quarter. Artisan Partners Limited Partnership now owns 2,025,727 shares of the company’s stock worth $55,181,000 after purchasing an additional 310,698 shares in the last quarter. Thrivent Financial for Lutherans raised its position in Warner Music Group by 6,227.3% in the third quarter. Thrivent Financial for Lutherans now owns 2,173,417 shares of the company’s stock valued at $74,027,000 after purchasing an additional 2,139,067 shares during the last quarter. Finally, Envestnet Asset Management Inc. boosted its stake in shares of Warner Music Group by 2.4% during the second quarter. Envestnet Asset Management Inc. now owns 301,988 shares of the company’s stock valued at $8,226,000 after purchasing an additional 6,989 shares in the last quarter. Institutional investors own 96.88% of the company’s stock.

Warner Music Group Price Performance

Shares of NASDAQ WMG opened at $29.45 on Monday. Warner Music Group Corp. has a twelve month low of $25.56 and a twelve month high of $36.64. The firm has a fifty day simple moving average of $29.68 and a 200 day simple moving average of $31.06. The company has a market capitalization of $15.38 billion, a PE ratio of 50.78, a P/E/G ratio of 0.49 and a beta of 1.24. The company has a quick ratio of 0.69, a current ratio of 0.70 and a debt-to-equity ratio of 5.30.

Warner Music Group (NASDAQ:WMG) last issued its quarterly earnings results on Thursday, February 5th. The company reported $0.33 EPS for the quarter, missing analysts’ consensus estimates of $0.40 by ($0.07). Warner Music Group had a net margin of 4.43% and a return on equity of 38.33%. The firm had revenue of $1.84 billion for the quarter, compared to the consensus estimate of $1.77 billion. During the same period last year, the company posted $0.45 EPS. The business’s revenue was up 10.4% compared to the same quarter last year. On average, sell-side analysts forecast that Warner Music Group Corp. will post 1.39 EPS for the current year.

Warner Music Group Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, March 3rd. Shareholders of record on Wednesday, February 18th will be issued a $0.19 dividend. This represents a $0.76 dividend on an annualized basis and a yield of 2.6%. The ex-dividend date is Wednesday, February 18th. Warner Music Group’s payout ratio is presently 131.03%.

Wall Street Analyst Weigh In

WMG has been the subject of several recent research reports. Jefferies Financial Group lowered their price objective on Warner Music Group from $38.00 to $35.00 and set a “buy” rating for the company in a research note on Thursday, December 11th. Wall Street Zen cut shares of Warner Music Group from a “buy” rating to a “hold” rating in a research report on Saturday, January 3rd. Citigroup dropped their price target on shares of Warner Music Group from $41.00 to $40.00 and set a “buy” rating for the company in a research note on Wednesday, January 21st. UBS Group set a $33.00 price objective on shares of Warner Music Group in a research note on Friday, November 21st. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of Warner Music Group in a research report on Monday, December 29th. Twelve investment analysts have rated the stock with a Buy rating and eight have given a Hold rating to the company’s stock. According to data from MarketBeat.com, Warner Music Group currently has an average rating of “Moderate Buy” and an average price target of $35.69.

Warner Music Group 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.