9 hours Ago By ABMN Staff
Invesco Ltd. trimmed its position in shares of Warner Music Group Corp. ( NASDAQ:WMG – Free Report ) by 8.
2% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 225,612 shares of the company’s stock after selling 20,178 shares during the quarter. Invesco Ltd.
’s holdings in Warner Music Group were worth $6,994,000 at the end of the most recent quarter. Several other large investors have also recently added to or reduced their stakes in WMG. SBI Securities Co.
Ltd. acquired a new position in shares of Warner Music Group during the 4th quarter worth $35,000. Aster Capital Management DIFC Ltd purchased a new position in Warner Music Group in the fourth quarter valued at about $43,000.
GAMMA Investing LLC increased its holdings in Warner Music Group by 379.5% in the fourth quarter. GAMMA Investing LLC now owns 1,774 shares of the company’s stock valued at $55,000 after buying an additional 1,404 shares in the last quarter.
Rosenberg Matthew Hamilton boosted its stake in shares of Warner Music Group by 14.0% during the 4th quarter. Rosenberg Matthew Hamilton now owns 3,705 shares of the company’s stock worth $115,000 after acquiring an additional 455 shares in the last quarter.
Finally, Fifth Third Bancorp grew its holdings in shares of Warner Music Group by 13.1% in the 4th quarter. Fifth Third Bancorp now owns 3,967 shares of the company’s stock worth $123,000 after acquiring an additional 458 shares during the period.
96.88% of the stock is owned by hedge funds and other institutional investors. Warner Music Group Stock Up 2.
1 % Shares of NASDAQ WMG opened at $29.22 on Friday. The firm has a fifty day moving average of $31.
78 and a 200-day moving average of $31.82. Warner Music Group Corp.
has a 52-week low of $27.06 and a 52-week high of $36.64.
The company has a quick ratio of 0.67, a current ratio of 0.69 and a debt-to-equity ratio of 5.
67. The stock has a market capitalization of $15.20 billion, a PE ratio of 29.
82, a P/E/G ratio of 1.03 and a beta of 1.32.
Warner Music Group Dividend Announcement The firm also recently announced a quarterly dividend, which was paid on Tuesday, March 4th. Investors of record on Monday, February 24th were issued a dividend of $0.18 per share.
The ex-dividend date of this dividend was Monday, February 24th. This represents a $0.72 annualized dividend and a dividend yield of 2.
46%. Warner Music Group’s payout ratio is 73.47%.
Wall Street Analyst Weigh In Several brokerages recently issued reports on WMG. FBN Securities initiated coverage on Warner Music Group in a report on Friday, March 28th. They set a “sector perform” rating and a $35.
00 price objective for the company. Guggenheim reiterated a “buy” rating and issued a $40.00 price objective on shares of Warner Music Group in a research report on Friday, February 7th.
Macquarie restated a “neutral” rating and set a $30.00 target price on shares of Warner Music Group in a report on Thursday, January 30th. Evercore ISI reduced their price target on shares of Warner Music Group from $36.
00 to $35.00 and set an “outperform” rating on the stock in a report on Thursday, January 9th. Finally, UBS Group dropped their price objective on shares of Warner Music Group from $43.
00 to $41.00 and set a “buy” rating for the company in a research note on Friday, January 10th. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating and nine have assigned a buy rating to the company.
According to data from MarketBeat, Warner Music Group presently has an average rating of “Hold” and an average target price of $35.47. Read Our Latest Stock Report on WMG Insider Buying and Selling In other news, EVP Timothy Matusch sold 1,103 shares of the company’s stock in a transaction dated Friday, February 14th.
The stock was sold at an average price of $36.49, for a total value of $40,248.47.
Following the completion of the sale, the executive vice president now owns 88,649 shares of the company’s stock, valued at $3,234,802.01. This represents a 1.
23 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink . Also, Director Valentin Blavatnik sold 28,230 shares of the firm’s stock in a transaction dated Thursday, February 20th.
The shares were sold at an average price of $35.45, for a total value of $1,000,753.50.
Following the sale, the director now owns 68,264 shares in the company, valued at approximately $2,419,958.80. The trade was a 29.
26 % decrease in their ownership of the stock. The disclosure for this sale can be found here . In the last three months, insiders sold 30,333 shares of company stock valued at $1,072,432.
Company insiders own 72.21% of the company’s stock. About Warner Music Group ( 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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