Warner Music Group Corp. (NASDAQ:WMG – Get Free Report) EVP Timothy Matusch sold 1,000 shares of Warner Music Group stock in a transaction that occurred on Wednesday, April 2nd. The stock was sold at an average price of $31.43, for a total value of $31,430.00. Following the completion of the transaction, the executive vice president now owns 87,649 shares of the company’s stock, valued at approximately $2,754,808.07. This trade represents a 1.13 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link.
Timothy Matusch also recently made the following trade(s):
- On Friday, February 14th, Timothy Matusch sold 1,103 shares of Warner Music Group stock. The stock was sold at an average price of $36.49, for a total value of $40,248.47.
Warner Music Group Stock Down 4.7 %
Shares of Warner Music Group stock traded down $1.45 during trading on Friday, hitting $29.48. 3,946,968 shares of the stock traded hands, compared to its average volume of 1,970,666. The company has a current ratio of 0.69, a quick ratio of 0.67 and a debt-to-equity ratio of 5.67. The stock’s fifty day simple moving average is $33.13 and its 200 day simple moving average is $32.07. The firm has a market cap of $15.34 billion, a P/E ratio of 30.08, a price-to-earnings-growth ratio of 1.03 and a beta of 1.32. Warner Music Group Corp. has a 52-week low of $27.06 and a 52-week high of $36.64.
Warner Music Group (NASDAQ:WMG – Get Free Report) last posted its earnings results on Thursday, February 6th. The company reported $0.45 EPS for the quarter, beating analysts’ consensus estimates of $0.34 by $0.11. Warner Music Group had a net margin of 8.07% and a return on equity of 79.01%. On average, equities analysts predict that Warner Music Group Corp. will post 1.39 earnings per share for the current fiscal year.
Warner Music Group Announces Dividend
The business also recently announced a quarterly dividend, which was paid on Tuesday, March 4th. Shareholders of record on Monday, February 24th were issued a dividend of $0.18 per share. The ex-dividend date was Monday, February 24th. This represents a $0.72 dividend on an annualized basis and a yield of 2.44%. Warner Music Group’s dividend payout ratio is currently 73.47%.
Institutional Trading of Warner Music Group
Several hedge funds and other institutional investors have recently bought and sold shares of the stock. DigitalBridge Group Inc. lifted its stake in shares of Warner Music Group by 29.7% during the 4th quarter. DigitalBridge Group Inc. now owns 896,445 shares of the company’s stock worth $27,790,000 after purchasing an additional 205,529 shares during the last quarter. Barrow Hanley Mewhinney & Strauss LLC raised its holdings in Warner Music Group by 43.5% in the fourth quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 7,920,342 shares of the company’s stock worth $245,531,000 after purchasing an additional 2,400,500 shares in the last quarter. Two Sigma Advisers LP purchased a new stake in shares of Warner Music Group during the fourth quarter valued at about $2,613,000. Two Sigma Investments LP bought a new stake in shares of Warner Music Group in the 4th quarter valued at about $5,545,000. Finally, State of Wyoming purchased a new position in shares of Warner Music Group in the 4th quarter worth approximately $47,000. Institutional investors own 96.88% of the company’s stock.
Analysts Set New Price Targets
Several equities research analysts have recently weighed in on WMG shares. Macquarie reissued a “neutral” rating and issued a $30.00 target price on shares of Warner Music Group in a research note on Thursday, January 30th. Citigroup raised shares of Warner Music Group from a “neutral” rating to a “buy” rating and increased their price objective for the stock from $34.00 to $42.00 in a research report on Friday, February 14th. UBS Group decreased 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. FBN Securities began coverage on Warner Music Group in a research note on Friday, March 28th. They set a “sector perform” rating and a $35.00 target price on the stock. Finally, Morgan Stanley decreased their price target on Warner Music Group from $38.00 to $37.00 and set an “overweight” rating for the company in a research note on Monday, January 13th. Two investment analysts have rated the stock with a sell rating, five have issued a hold rating and ten have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $35.76.
Check Out Our Latest Research Report on WMG
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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