Warner Music Group Corp. (NASDAQ:WMG) Shares Sold by Tidal Investments LLC

Tidal Investments LLC lessened its stake in shares of Warner Music Group Corp. (NASDAQ:WMG) by 4.1% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 11,728 shares of the company’s stock after selling 505 shares during the quarter. Tidal Investments LLC’s holdings in Warner Music Group were worth $367,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently added to or reduced their stakes in the company. Benjamin Edwards Inc. grew its holdings in shares of Warner Music Group by 74.5% during the second quarter. Benjamin Edwards Inc. now owns 953 shares of the company’s stock worth $29,000 after buying an additional 407 shares in the last quarter. Concord Wealth Partners acquired a new stake in Warner Music Group during the third quarter worth approximately $30,000. Assetmark Inc. raised its holdings in Warner Music Group by 9,400.0% in the 3rd quarter. Assetmark Inc. now owns 1,235 shares of the company’s stock valued at $39,000 after acquiring an additional 1,222 shares during the last quarter. ORG Wealth Partners LLC purchased a new position in shares of Warner Music Group during the 3rd quarter worth $73,000. Finally, Itau Unibanco Holding S.A. acquired a new stake in shares of Warner Music Group during the second quarter worth $86,000. Institutional investors and hedge funds own 96.88% of the company’s stock.

Wall Street Analyst Weigh In

WMG has been the subject of several analyst reports. Loop Capital dropped their target price on Warner Music Group from $38.00 to $35.00 and set a “hold” rating for the company in a research note on Monday, November 25th. Barclays dropped their price objective on shares of Warner Music Group from $32.00 to $31.00 and set an “equal weight” rating for the company in a research note on Friday, November 22nd. JPMorgan Chase & Co. decreased their target price on shares of Warner Music Group from $41.00 to $40.00 and set an “overweight” rating on the stock in a research report on Friday, November 22nd. Citigroup upped their price target on shares of Warner Music Group from $31.00 to $34.00 and gave the stock a “neutral” rating in a research report on Friday, November 29th. Finally, Bank of America reiterated an “underperform” rating and issued a $30.00 price target (down previously from $33.00) on shares of Warner Music Group in a report on Friday, October 4th. Two equities research analysts have rated the stock with a sell rating, five have issued a hold rating and eight have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $35.67.

Warner Music Group Trading Down 0.3 %

NASDAQ:WMG opened at $31.08 on Tuesday. Warner Music Group Corp. has a 12 month low of $27.06 and a 12 month high of $38.05. The business’s 50-day moving average is $32.23 and its two-hundred day moving average is $30.75. The company has a debt-to-equity ratio of 5.95, a current ratio of 0.68 and a quick ratio of 0.65. The firm has a market capitalization of $16.10 billion, a PE ratio of 37.45, a price-to-earnings-growth ratio of 0.70 and a beta of 1.35.

Warner Music Group (NASDAQ:WMG) last released its quarterly earnings results on Thursday, November 21st. The company reported $0.08 EPS for the quarter, missing the consensus estimate of $0.28 by ($0.20). The company had revenue of $1.63 billion for the quarter, compared to analyst estimates of $1.59 billion. Warner Music Group had a return on equity of 69.29% and a net margin of 6.77%. The business’s revenue was up 2.8% on a year-over-year basis. During the same period last year, the firm posted $0.34 earnings per share. Research analysts predict that Warner Music Group Corp. will post 1.34 earnings per share for the current fiscal year.

Warner Music Group Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, December 3rd. Investors of record on Tuesday, November 19th were issued a dividend of $0.18 per share. This represents a $0.72 dividend on an annualized basis and a yield of 2.32%. The ex-dividend date was Tuesday, November 19th. Warner Music Group’s payout ratio is 86.75%.

Insider Buying and Selling

In other news, Director Lincoln E. Benet sold 35,000 shares of the firm’s stock in a transaction dated Friday, December 20th. The stock was sold at an average price of $30.96, for a total transaction of $1,083,600.00. Following the completion of the sale, the director now directly owns 242,360 shares in the company, valued at $7,503,465.60. This trade represents a 12.62 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 73.35% of the stock is currently owned by insiders.

Warner Music Group Company Profile

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.