Assetmark Inc. Increases Stock Holdings in Warner Music Group Corp. $WMG

Assetmark Inc. increased its stake in shares of Warner Music Group Corp. (NASDAQ:WMG) by 43.8% during the 1st quarter, according to its most recent filing with the SEC. The institutional investor owned 570,488 shares of the company’s stock after acquiring an additional 173,680 shares during the period. Assetmark Inc. owned approximately 0.11% of Warner Music Group worth $14,570,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Caitong International Asset Management Co. Ltd lifted its position in shares of Warner Music Group by 774.6% during the third quarter. Caitong International Asset Management Co. Ltd now owns 1,207 shares of the company’s stock worth $41,000 after purchasing an additional 1,069 shares in the last quarter. Quarry LP acquired a new stake in Warner Music Group during the 4th quarter valued at $40,000. Osaic Holdings Inc. grew its holdings in Warner Music Group by 480.9% during the 2nd quarter. Osaic Holdings Inc. now owns 1,493 shares of the company’s stock valued at $41,000 after purchasing an additional 1,236 shares in the last quarter. Parallel Advisors LLC increased its stake in Warner Music Group by 355.7% during the 4th quarter. Parallel Advisors LLC now owns 1,531 shares of the company’s stock worth $47,000 after buying an additional 1,195 shares during the period. Finally, US Bancorp DE increased its stake in Warner Music Group by 23.5% during the 3rd quarter. US Bancorp DE now owns 1,729 shares of the company’s stock worth $59,000 after buying an additional 329 shares during the period. Institutional investors and hedge funds own 96.88% of the company’s stock.

Warner Music Group Stock Performance

Shares of Warner Music Group stock opened at $28.33 on Monday. The company has a debt-to-equity ratio of 5.62, a quick ratio of 0.71 and a current ratio of 0.73. Warner Music Group Corp. has a 1 year low of $23.34 and a 1 year high of $35.42. The firm’s 50-day simple moving average is $30.00 and its 200-day simple moving average is $29.07. The firm has a market cap of $14.78 billion, a PE ratio of 33.33, a price-to-earnings-growth ratio of 0.42 and a beta of 1.30.

Warner Music Group (NASDAQ:WMG) last announced its quarterly earnings data on Thursday, May 7th. The company reported $0.44 earnings per share for the quarter, beating the consensus estimate of $0.30 by $0.14. Warner Music Group had a return on equity of 62.01% and a net margin of 6.34%.The firm had revenue of $1.73 billion during the quarter, compared to analyst estimates of $1.61 billion. During the same period in the previous year, the company earned $0.07 earnings per share. Warner Music Group’s quarterly revenue was up 16.7% on a year-over-year basis. Equities analysts forecast that Warner Music Group Corp. will post 1.52 earnings per share for the current fiscal year.

Warner Music Group Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, June 2nd. Shareholders of record on Tuesday, May 26th were paid a dividend of $0.19 per share. The ex-dividend date was Tuesday, May 26th. This represents a $0.76 annualized dividend and a yield of 2.7%. Warner Music Group’s payout ratio is presently 89.41%.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on the stock. Morgan Stanley set a $39.00 price objective on shares of Warner Music Group in a research report on Friday, May 8th. Weiss Ratings reiterated a “hold (c)” rating on shares of Warner Music Group in a research note on Wednesday, June 24th. Guggenheim increased their price target on Warner Music Group from $34.00 to $36.00 and gave the company a “buy” rating in a report on Friday, May 8th. Zacks Research downgraded Warner Music Group from a “strong-buy” rating to a “hold” rating in a report on Monday, June 22nd. Finally, UBS Group upped their target price on Warner Music Group from $40.00 to $42.00 and gave the company a “buy” rating in a research report on Friday, May 8th. Fourteen equities research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $38.43.

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.