Warner Music Group Corp. (NASDAQ:WMG) Shares Sold by Jackson Square Partners LLC

Jackson Square Partners LLC lessened its position in Warner Music Group Corp. (NASDAQ:WMGFree Report) by 18.1% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 2,794,017 shares of the company’s stock after selling 617,229 shares during the period. Warner Music Group makes up 3.2% of Jackson Square Partners LLC’s portfolio, making the stock its 10th biggest position. Jackson Square Partners LLC owned approximately 0.54% of Warner Music Group worth $99,998,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. Fifth Third Bancorp bought a new stake in shares of Warner Music Group during the 4th quarter worth about $38,000. SRS Capital Advisors Inc. acquired a new position in shares of Warner Music Group in the 4th quarter worth $46,000. Ramirez Asset Management Inc. purchased a new stake in shares of Warner Music Group during the third quarter valued at $75,000. Acadian Asset Management LLC acquired a new position in shares of Warner Music Group in the 3rd quarter valued at $228,000. Finally, Simon Quick Advisors LLC purchased a new position in Warner Music Group in the 4th quarter worth about $296,000. 96.88% of the stock is currently owned by institutional investors.

Warner Music Group Price Performance

Shares of NASDAQ:WMG traded up $0.15 during midday trading on Friday, reaching $32.04. 1,168,159 shares of the company’s stock were exchanged, compared to its average volume of 2,023,870. The company has a debt-to-equity ratio of 6.81, a quick ratio of 0.67 and a current ratio of 0.69. The company’s 50 day simple moving average is $33.24 and its two-hundred day simple moving average is $34.13. Warner Music Group Corp. has a 12 month low of $23.62 and a 12 month high of $38.05. The firm has a market capitalization of $16.59 billion, a PE ratio of 32.04, a price-to-earnings-growth ratio of 2.07 and a beta of 1.43.

Warner Music Group (NASDAQ:WMGGet Free Report) last announced its quarterly earnings results on Thursday, May 9th. The company reported $0.18 earnings per share for the quarter, beating analysts’ consensus estimates of $0.11 by $0.07. Warner Music Group had a return on equity of 120.42% and a net margin of 8.28%. The firm had revenue of $1.49 billion for the quarter, compared to analysts’ expectations of $1.48 billion. During the same period in the prior year, the business posted $0.06 earnings per share. The business’s revenue was up 6.8% compared to the same quarter last year. Equities research analysts expect that Warner Music Group Corp. will post 0.98 earnings per share for the current fiscal year.

Warner Music Group Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 3rd. Investors of record on Thursday, May 23rd will be given a dividend of $0.17 per share. The ex-dividend date is Wednesday, May 22nd. This represents a $0.68 dividend on an annualized basis and a yield of 2.12%. Warner Music Group’s dividend payout ratio (DPR) is presently 68.00%.

Analyst Upgrades and Downgrades

WMG has been the subject of a number of recent analyst reports. Guggenheim decreased their price objective on shares of Warner Music Group from $46.00 to $45.00 and set a “buy” rating for the company in a research note on Friday, April 5th. Loop Capital increased their target price on shares of Warner Music Group from $36.00 to $38.00 and gave the stock a “hold” rating in a research report on Thursday, April 18th. Redburn Atlantic upgraded shares of Warner Music Group from a “sell” rating to a “neutral” rating and boosted their price target for the company from $17.00 to $21.00 in a report on Monday, February 5th. Finally, Morgan Stanley began coverage on Warner Music Group in a report on Monday, May 6th. They set an “overweight” rating and a $43.00 price objective for the company. Six equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $37.18.

Check Out Our Latest Research Report on WMG

Warner Music Group Company Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Warner Music Group (NASDAQ:WMG)

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