UBS Group AG boosted its position in Warner Music Group Corp. (NASDAQ:WMG – Get Rating) shares by 57.4% in the third quarter, the company said in its latest disclosure to the SEC. . The company owned 278,412 shares of the company after purchasing an additional 101,534 shares during the quarter. UBS Group AG owned his 0.05% stake in Warner Music Group worth $6,462,000 as of the latest SEC filing.
A number of other institutional investors have also recently bought and sold shares of WMG. Barclays PLC increased his stake in Warner Music Group by 29.6% during the third quarter. Barclays PLC now owns 5,779 shares worth $134,000 after purchasing another 1,320 shares during this period. Stephens Inc. AR increased his stake in Warner Music Group by 6.3% in the second quarter. Stephens Inc. AR now owns 7,330 shares worth $179,000 after purchasing an additional 437 shares during this period. Prelude Capital Management LLC won a new position with Warner Music Group in the second quarter worth approximately $204,000. Kestra Private Wealth Services LLC won a new position with Warner Music Group in the second quarter worth approximately $205,000. Finally, Quantbot Technologies LP acquired a new position in Warner Music Group stock worth approximately $209,000 in the second quarter. Institutional investors and hedge funds own 23.10% of the company’s shares.
In other news from Warner Music Group, director Lincoln E. Bennett sold 20,000 shares in the company on Tuesday, February 21st. The shares sold for an average of $32.00, bringing the total transaction value to his $640,000.00. After the sale, the directors now directly own 379,341 shares of the company stock valued at $12,138,912. The transaction was disclosed in legal filings with the U.S. Securities and Exchange Commission which can be accessed via this hyperlink. In separate news, director Lincoln E. Bennett sold his 20,000 shares in a transaction on Tuesday, February 21st. The shares were sold at an average price of $32.00 for a total of $640,000.00. Following the transaction, the directors now own directly 379,341 shares of the Company stock valued at $12,138,912. The sale is disclosed in legal documents to the Securities and Exchange Commission, available on his website at the SEC. Also, director Lincoln E. Bennett sold 15,000 of his shares in a deal on Wednesday, November 30. The shares sold for an average of $34.03 and the total trading value he had was $510,450.00. Following the closing of the transaction, the directors now directly own 399,341 shares of the company, valued at $13,589,574.23. Please see here for the disclosure of this sale. The insider owns his 75.21% of the company’s shares.
Analyst Rating Change
A few research analysts have been putting a lot of weight on stock prices lately. Goldman Sachs Group raised its price target for Warner Music Group from $35.00 to $39.00, giving the company a “buy” rating, in a report on Friday, Feb. 10. Truist Financial lowered its price target on Warner Music Group shares from $39.00 to $37.00 in a report on Tuesday, January 17, giving the company a Buy rating. Deutsche Bank Aktiengesellschaft raised its price target on Warner Music Group shares to $43.00 from $37.00 in a report on Monday, January 30. In its Dec. 19 report, Morgan Stanley raised Warner Music Group’s price target from $38.00 to $41.00, giving the company an “overweight” rating. Finally, Barclays reduced its share of Warner Music Group from ‘overweight’ to ‘equal weight’, and he set a target price for the company at $35.00. In a report on Monday, January 23rd. One investment analyst rated the stock as sell, four issued hold ratings, and seven gave the stock a buy rating. Based on MarketBeat.com data, the company’s current consensus rating is “moderate buy” with a consensus target price of $37.64.
Warner Music Group Stock Performance
NASDAQ WMG opened at $32.20 on Monday. The company has a current ratio of 0.70, a quick ratio of 0.67 and a debt to equity ratio of 13.99. The company has a 50-day moving average price of $35.22 and a 200-day moving average price of $30.41. His one-year low for Warner Music Group Corporation is $21.57 and his one-year high is $39.31. The company has a market capitalization of $16.58 billion, a P/E ratio of 34.62, a P/E ratio of 3.80 and a beta of 1.55.
Warner Music Group (NASDAQ:WMG – Get Rating) last reported quarterly results on Thursday, February 9. The company reported his earnings per share (EPS) of $0.23 for the quarter, well below consensus expectations of $0.27 ($0.04). Warner Music Group’s return on equity was 244.53% and net profit margin was 8.39%. The company’s revenue for the quarter was $1.49 billion, compared to consensus expectations of $1.52 billion. For the same period last year, the company posted earnings of $0.43 per share for him. Revenue for this business decreased by 7.8% compared to the same quarter last year. As a group, research analysts expect Warner Music Group Corporation to post 0.93 EPS this year.
Warner Music Group Announces Dividend
The company also recently announced a quarterly dividend payable on Wednesday, March 1st. Shareholders of record on Tuesday, February 21 will receive a dividend of $0.16 per share. This represents his $0.64 dividend and his 1.99% yield on an annualized basis. The ex-dividend date for this dividend is February 17 (Friday). Warner Music Group’s Dividend Payout Ratio (DPR) is currently 68.82%.
Warner Music Group Profile
Warner Music Group Corp. operates as a music entertainment company in the United States, 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 and the related marketing, promotion, distribution, sale and licensing of music created by such Recording Artists. It sells its music catalog through previously released music and video titles, as well as compilations and reissues of previously unreleased material. It operates primarily through record labels such as Warner Records, Atlantic Records, Asylum, Big Beat, Canvasback, East West, Erato, FFRR, Fueled by Ramen, Nonsuch, Parlophone, Reprise, Roadrunner and Sire. , Spinnin’ Records, Warner Classics, Warner Music Nashville.
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