Daytona Street Capital LLC Invests $1.94 Million in Warner Music Group Corp. $WMG

Daytona Street Capital LLC acquired a new position in shares of Warner Music Group Corp. (NASDAQ:WMG) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 63,265 shares of the company’s stock, valued at approximately $1,940,000. Warner Music Group makes up about 1.3% of Daytona Street Capital LLC’s investment portfolio, making the stock its 23rd biggest holding.

Several other institutional investors also recently modified their holdings of WMG. Nisa Investment Advisors LLC grew its holdings in shares of Warner Music Group by 120.1% during the 3rd quarter. Nisa Investment Advisors LLC now owns 865 shares of the company’s stock worth $29,000 after purchasing an additional 472 shares in the last quarter. Farther Finance Advisors LLC grew its holdings in shares of Warner Music Group by 57.5% during the 3rd quarter. Farther Finance Advisors LLC now owns 879 shares of the company’s stock worth $30,000 after purchasing an additional 321 shares in the last quarter. GAMMA Investing LLC grew its holdings in shares of Warner Music Group by 85.7% during the 3rd quarter. GAMMA Investing LLC now owns 1,107 shares of the company’s stock worth $38,000 after purchasing an additional 511 shares in the last quarter. Caitong International Asset Management Co. Ltd boosted its stake in Warner Music Group by 774.6% in the 3rd quarter. Caitong International Asset Management Co. Ltd now owns 1,207 shares of the company’s stock valued at $41,000 after buying an additional 1,069 shares in the last quarter. Finally, Osaic Holdings Inc. boosted its stake in Warner Music Group by 480.9% in the 2nd quarter. Osaic Holdings Inc. now owns 1,493 shares of the company’s stock valued at $41,000 after buying an additional 1,236 shares in the last quarter. Institutional investors and hedge funds own 96.88% of the company’s stock.

Warner Music Group Price Performance

Warner Music Group stock opened at $26.01 on Tuesday. The company has a debt-to-equity ratio of 5.30, a quick ratio of 0.69 and a current ratio of 0.70. The firm has a market cap of $13.59 billion, a P/E ratio of 44.84, a P/E/G ratio of 0.43 and a beta of 1.28. The business’s fifty day moving average is $27.52 and its two-hundred day moving average is $29.61. Warner Music Group Corp. has a 52 week low of $23.34 and a 52 week high of $34.63.

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

Warner Music Group Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, March 3rd. Shareholders of record on Wednesday, February 18th were paid a $0.19 dividend. The ex-dividend date of this dividend was Wednesday, February 18th. This represents a $0.76 dividend on an annualized basis and a yield of 2.9%. Warner Music Group’s payout ratio is currently 131.03%.

Analyst Ratings Changes

Several analysts recently commented on WMG shares. Wall Street Zen lowered Warner Music Group from a “buy” rating to a “hold” rating in a research note on Saturday, January 3rd. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Warner Music Group in a research note on Friday, March 27th. Moffett Nathanson started coverage on Warner Music Group in a research note on Tuesday, January 27th. They issued a “buy” rating and a $38.00 price target on the stock. Wolfe Research reaffirmed an “outperform” rating and issued a $36.00 price target on shares of Warner Music Group in a research note on Monday, December 15th. Finally, Jefferies Financial Group decreased their price target on Warner Music Group from $38.00 to $35.00 and set a “buy” rating on the stock in a research note on Thursday, December 11th. Twelve equities research analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company. According to data from MarketBeat, Warner Music Group has a consensus rating of “Moderate Buy” and a consensus price target of $35.53.

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.