ORG Wealth Partners LLC Buys New Position in Warner Music Group Corp. (NASDAQ:WMG)

ORG Wealth Partners LLC purchased a new position in shares of Warner Music Group Corp. (NASDAQ:WMG) in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The firm purchased 2,332 shares of the company’s stock, valued at approximately $73,000.

Several other hedge funds have also recently added to or reduced their stakes in the company. Benjamin Edwards Inc. lifted its stake in shares of Warner Music Group by 74.5% in the 2nd quarter. Benjamin Edwards Inc. now owns 953 shares of the company’s stock valued at $29,000 after purchasing an additional 407 shares during the period. ORG Partners LLC boosted its holdings in shares of Warner Music Group by 5,790.5% during the 2nd quarter. ORG Partners LLC now owns 1,237 shares of the company’s stock worth $37,000 after buying an additional 1,216 shares in the last quarter. Mather Group LLC. acquired a new stake in shares of Warner Music Group during the 1st quarter worth approximately $45,000. Headlands Technologies LLC bought a new stake in shares of Warner Music Group in the 1st quarter valued at $82,000. Finally, Itau Unibanco Holding S.A. acquired a new position in shares of Warner Music Group during the 2nd quarter valued at $86,000. Institutional investors own 96.88% of the company’s stock.

Insider Transactions at Warner Music Group

In related news, CEO Max Lousada sold 428,834 shares of Warner Music Group stock in a transaction on Tuesday, September 10th. The stock was sold at an average price of $28.00, for a total transaction of $12,007,352.00. Following the sale, the chief executive officer now directly owns 2,289,771 shares in the company, valued at approximately $64,113,588. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders have sold 628,205 shares of company stock worth $17,628,757 in the last 90 days. Insiders own 73.35% of the company’s stock.

Warner Music Group Trading Up 0.4 %

NASDAQ WMG opened at $31.22 on Wednesday. The company has a current ratio of 0.69, a quick ratio of 0.67 and a debt-to-equity ratio of 6.26. The business has a fifty day simple moving average of $29.57 and a 200 day simple moving average of $30.85. Warner Music Group Corp. has a 12 month low of $27.06 and a 12 month high of $38.05. The firm has a market capitalization of $16.17 billion, a P/E ratio of 31.22, a PEG ratio of 1.00 and a beta of 1.38.

Warner Music Group (NASDAQ:WMG) last announced its earnings results on Wednesday, August 7th. The company reported $0.27 EPS for the quarter, beating the consensus estimate of $0.25 by $0.02. Warner Music Group had a net margin of 8.56% and a return on equity of 101.32%. The company had revenue of $1.55 billion during the quarter, compared to the consensus estimate of $1.58 billion. On average, analysts predict that Warner Music Group Corp. will post 1.05 EPS for the current fiscal year.

Warner Music Group Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, September 4th. Shareholders of record on Tuesday, August 27th were given a dividend of $0.18 per share. The ex-dividend date was Tuesday, August 27th. This represents a $0.72 annualized dividend and a dividend yield of 2.31%. This is a boost from Warner Music Group’s previous quarterly dividend of $0.17. Warner Music Group’s dividend payout ratio (DPR) is currently 72.00%.

Analyst Ratings Changes

A number of equities research analysts have commented on WMG shares. Redburn Atlantic restated a “sell” rating and issued a $23.00 price target (up from $21.00) on shares of Warner Music Group in a report on Wednesday, July 10th. Wolfe Research initiated coverage on Warner Music Group in a research note on Friday, July 12th. They issued an “outperform” rating and a $37.00 target price for the company. Deutsche Bank Aktiengesellschaft dropped their price target on Warner Music Group from $42.00 to $36.00 and set a “buy” rating on the stock in a research note on Tuesday, August 13th. Tigress Financial reduced their price objective on Warner Music Group from $52.00 to $44.00 and set a “buy” rating for the company in a research note on Thursday, September 12th. Finally, Macquarie lowered their target price on Warner Music Group from $32.00 to $30.00 and set a “neutral” rating on the stock in a research report on Friday, October 11th. Two analysts have rated the stock with a sell rating, three have assigned a hold rating and seven have issued a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $36.17.

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.