Warner Music Group Corp. (NASDAQ:WMG – Get Free Report) EVP Timothy Matusch sold 1,103 shares of the business’s stock in a transaction on Friday, February 14th. The stock was sold at an average price of $36.49, for a total transaction of $40,248.47. Following the transaction, the executive vice president now owns 88,649 shares of the company’s stock, valued at approximately $3,234,802.01. The trade was a 1.23 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink.
Warner Music Group Stock Performance
NASDAQ WMG traded down $0.31 during trading hours on Friday, hitting $35.26. 1,946,632 shares of the stock were exchanged, compared to its average volume of 1,840,612. The company has a market cap of $18.35 billion, a price-to-earnings ratio of 35.98, a price-to-earnings-growth ratio of 1.03 and a beta of 1.35. Warner Music Group Corp. has a 12-month low of $27.06 and a 12-month high of $36.64. The stock has a 50-day moving average of $31.78 and a 200 day moving average of $31.18. The company has a quick ratio of 0.67, a current ratio of 0.69 and a debt-to-equity ratio of 5.67.
Warner Music Group (NASDAQ:WMG – Get Free Report) last posted its quarterly earnings results on Thursday, February 6th. The company reported $0.45 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.34 by $0.11. Warner Music Group had a net margin of 8.07% and a return on equity of 79.01%. As a group, equities research analysts forecast that Warner Music Group Corp. will post 1.39 earnings per share for the current year.
Warner Music Group Announces Dividend
The company also recently declared a quarterly dividend, which will be paid on Tuesday, March 4th. Investors of record on Monday, February 24th will be issued a dividend of $0.18 per share. The ex-dividend date of this dividend is Monday, February 24th. This represents a $0.72 annualized dividend and a yield of 2.04%. Warner Music Group’s dividend payout ratio is currently 73.47%.
Institutional Inflows and Outflows
Several large investors have recently added to or reduced their stakes in WMG. Mawer Investment Management Ltd. raised its holdings in Warner Music Group by 2,699.4% during the third quarter. Mawer Investment Management Ltd. now owns 8,217,467 shares of the company’s stock worth $257,207,000 after purchasing an additional 7,923,926 shares in the last quarter. Darsana Capital Partners LP grew its position in Warner Music Group by 7,206.3% during the fourth quarter. Darsana Capital Partners LP now owns 6,000,000 shares of the company’s stock worth $186,000,000 after buying an additional 5,917,879 shares during the period. D1 Capital Partners L.P. grew its position in Warner Music Group by 91.5% during the third quarter. D1 Capital Partners L.P. now owns 5,264,498 shares of the company’s stock worth $164,779,000 after buying an additional 2,514,715 shares during the period. JPMorgan Chase & Co. grew its position in Warner Music Group by 27.9% during the fourth quarter. JPMorgan Chase & Co. now owns 11,199,012 shares of the company’s stock worth $347,169,000 after buying an additional 2,444,508 shares during the period. Finally, Barrow Hanley Mewhinney & Strauss LLC grew its position in Warner Music Group by 43.5% during the fourth quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 7,920,342 shares of the company’s stock worth $245,531,000 after buying an additional 2,400,500 shares during the period. 96.88% of the stock is owned by hedge funds and other institutional investors.
Analyst Upgrades and Downgrades
A number of equities research analysts recently weighed in on WMG shares. Morgan Stanley reduced their price target on shares of Warner Music Group from $38.00 to $37.00 and set an “overweight” rating for the company in a research report on Monday, January 13th. Barclays reduced their price target on shares of Warner Music Group from $32.00 to $31.00 and set an “equal weight” rating for the company in a research report on Friday, November 22nd. Macquarie reissued a “neutral” rating and issued a $30.00 price target on shares of Warner Music Group in a research 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 for the company in a research report on Thursday, January 9th. Finally, UBS Group reduced their price target on shares of Warner Music Group from $43.00 to $41.00 and set a “buy” rating for the company in a research report on Friday, January 10th. Two research analysts have rated the stock with a sell rating, four have assigned a hold rating and ten have issued a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $35.81.
Get Our Latest Analysis on Warner Music Group
About Warner Music Group
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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