Mutual of America Capital Management LLC Reduces Holdings in Warner Music Group Corp. (NASDAQ:WMG)

Mutual of America Capital Management LLC reduced its stake in Warner Music Group Corp. (NASDAQ:WMG) by 2.3% in the 4th quarter, HoldingsChannel.com reports. The firm owned 74,801 shares of the company’s stock after selling 1,731 shares during the period. Mutual of America Capital Management LLC’s holdings in Warner Music Group were worth $2,319,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently bought and sold shares of the company. Assetmark Inc. increased its stake in Warner Music Group by 9,400.0% during the 3rd quarter. Assetmark Inc. now owns 1,235 shares of the company’s stock valued at $39,000 after purchasing an additional 1,222 shares in the last quarter. GAMMA Investing LLC grew its holdings in shares of Warner Music Group by 379.5% during the fourth quarter. GAMMA Investing LLC now owns 1,774 shares of the company’s stock valued at $55,000 after buying an additional 1,404 shares during the last quarter. Rosenberg Matthew Hamilton increased its position in shares of Warner Music Group by 14.0% in the 4th quarter. Rosenberg Matthew Hamilton now owns 3,705 shares of the company’s stock valued at $115,000 after acquiring an additional 455 shares during the period. Fifth Third Bancorp increased its position in shares of Warner Music Group by 13.1% in the 4th quarter. Fifth Third Bancorp now owns 3,967 shares of the company’s stock valued at $123,000 after acquiring an additional 458 shares during the period. Finally, OneDigital Investment Advisors LLC purchased a new position in Warner Music Group in the 3rd quarter worth $247,000. 96.88% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Warner Music Group

In related news, EVP Timothy Matusch sold 1,103 shares of the firm’s stock in a transaction dated Friday, February 14th. The shares were sold at an average price of $36.49, for a total value of $40,248.47. Following the transaction, the executive vice president now directly owns 88,649 shares of the company’s stock, valued at approximately $3,234,802.01. This trade represents a 1.23 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Lincoln E. Benet sold 35,000 shares of Warner Music Group stock in a transaction dated Friday, December 20th. The stock was sold at an average price of $30.96, for a total value of $1,083,600.00. Following the completion of the sale, the director now owns 242,360 shares in the company, valued at approximately $7,503,465.60. The trade was a 12.62 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 64,333 shares of company stock valued at $2,124,602 over the last ninety days. Corporate insiders own 72.21% of the company’s stock.

Warner Music Group Price Performance

NASDAQ:WMG opened at $34.39 on Friday. 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 Corp. has a 52 week low of $27.06 and a 52 week high of $36.64. The stock’s 50-day moving average price is $32.31 and its 200-day moving average price is $31.56. The stock has a market capitalization of $17.90 billion, a PE ratio of 35.09, a price-to-earnings-growth ratio of 1.03 and a beta of 1.33.

Warner Music Group (NASDAQ:WMG) last issued its quarterly earnings data on Thursday, February 6th. The company reported $0.45 EPS for the quarter, beating the consensus estimate of $0.34 by $0.11. Warner Music Group had a return on equity of 79.01% and a net margin of 8.07%. As a group, equities analysts expect that Warner Music Group Corp. will post 1.39 EPS for the current fiscal year.

Warner Music Group Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, March 4th. Shareholders of record on Monday, February 24th were given a dividend of $0.18 per share. This represents a $0.72 dividend on an annualized basis and a yield of 2.09%. The ex-dividend date of this dividend was Monday, February 24th. Warner Music Group’s dividend payout ratio is presently 73.47%.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on the company. JPMorgan Chase & Co. dropped their price target on Warner Music Group from $41.00 to $40.00 and set an “overweight” rating on the stock in a research note on Friday, November 22nd. Evercore ISI dropped their target price on Warner Music Group from $36.00 to $35.00 and set an “outperform” rating on the stock in a research report on Thursday, January 9th. Guggenheim reissued a “buy” rating and set a $40.00 price target on shares of Warner Music Group in a research report on Friday, February 7th. Barclays decreased 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. Finally, Citigroup upgraded 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 note on Friday, February 14th. Two analysts have rated the stock with a sell rating, four have assigned a hold rating and ten have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $35.81.

Warner Music Group 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.