Point72 Europe London LLP Invests $2.21 Million in Warner Music Group Corp. (NASDAQ:WMG)

Point72 Europe London LLP acquired a new position in shares of Warner Music Group Corp. (NASDAQ:WMGFree Report) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund acquired 61,651 shares of the company’s stock, valued at approximately $2,206,000.

A number of other hedge funds also recently made changes to their positions in WMG. Principal Financial Group Inc. lifted its holdings in shares of Warner Music Group by 7.1% during the 3rd quarter. Principal Financial Group Inc. now owns 16,638 shares of the company’s stock worth $522,000 after acquiring an additional 1,109 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in shares of Warner Music Group by 31.7% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 801,840 shares of the company’s stock worth $25,178,000 after acquiring an additional 193,221 shares during the last quarter. Van ECK Associates Corp lifted its holdings in shares of Warner Music Group by 118.4% during the 3rd quarter. Van ECK Associates Corp now owns 85,923 shares of the company’s stock worth $2,698,000 after acquiring an additional 46,587 shares during the last quarter. Campbell & CO Investment Adviser LLC bought a new stake in shares of Warner Music Group during the 3rd quarter worth $655,000. Finally, Canada Pension Plan Investment Board lifted its holdings in shares of Warner Music Group by 903.2% during the 3rd quarter. Canada Pension Plan Investment Board now owns 94,300 shares of the company’s stock worth $2,961,000 after acquiring an additional 84,900 shares during the last quarter. 96.88% of the stock is owned by institutional investors.

Warner Music Group Stock Down 0.6 %

WMG traded down $0.19 during midday trading on Tuesday, reaching $30.50. The company’s stock had a trading volume of 3,788,256 shares, compared to its average volume of 1,664,077. The firm has a market capitalization of $15.80 billion, a price-to-earnings ratio of 30.50, a PEG ratio of 1.89 and a beta of 1.38. The company has a current ratio of 0.69, a quick ratio of 0.67 and a debt-to-equity ratio of 6.81. Warner Music Group Corp. has a 1 year low of $24.55 and a 1 year high of $38.05. The stock’s 50-day moving average is $32.36 and its 200-day moving average is $33.92.

Warner Music Group (NASDAQ:WMGGet Free Report) last announced its quarterly earnings data on Thursday, May 9th. The company reported $0.18 earnings per share for the quarter, topping analysts’ consensus estimates of $0.11 by $0.07. Warner Music Group had a net margin of 8.28% and a return on equity of 120.42%. The business had revenue of $1.49 billion for the quarter, compared to analysts’ expectations of $1.48 billion. During the same quarter in the prior year, the company earned $0.06 earnings per share. The business’s revenue was up 6.8% compared to the same quarter last year. As a group, research analysts expect that Warner Music Group Corp. will post 0.99 EPS for the current year.

Warner Music Group Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, June 3rd. Stockholders of record on Thursday, May 23rd were issued a dividend of $0.17 per share. This represents a $0.68 dividend on an annualized basis and a dividend yield of 2.23%. The ex-dividend date was Wednesday, May 22nd. Warner Music Group’s payout ratio is 68.00%.

Analysts Set New Price Targets

WMG has been the subject of several recent research reports. Loop Capital boosted their price target on shares of Warner Music Group from $36.00 to $38.00 and gave the stock a “hold” rating in a research note on Thursday, April 18th. Guggenheim reduced their price target on shares of Warner Music Group from $46.00 to $45.00 and set a “buy” rating on the stock in a research report on Friday, April 5th. Finally, Morgan Stanley assumed coverage on shares of Warner Music Group in a research report on Monday, May 6th. They set an “overweight” rating and a $43.00 price target on the stock. Five research analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $37.88.

View Our Latest Research Report on Warner Music Group

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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