Wealthfront Advisers LLC Makes New Investment in Warner Music Group Corp. $WMG

Wealthfront Advisers LLC bought a new stake in shares of Warner Music Group Corp. (NASDAQ:WMG) in the 3rd quarter, according to its most recent filing with the SEC. The institutional investor bought 70,997 shares of the company’s stock, valued at approximately $2,418,000.

A number of other hedge funds have also made changes to their positions in WMG. Nisa Investment Advisors LLC raised its holdings in Warner Music Group by 120.1% in the third quarter. Nisa Investment Advisors LLC now owns 865 shares of the company’s stock valued at $29,000 after acquiring an additional 472 shares in the last quarter. Farther Finance Advisors LLC raised its stake in shares of Warner Music Group by 57.5% in the 3rd quarter. Farther Finance Advisors LLC now owns 879 shares of the company’s stock valued at $30,000 after purchasing an additional 321 shares in the last quarter. GAMMA Investing LLC raised its stake in shares of Warner Music Group by 85.7% in the 3rd quarter. GAMMA Investing LLC now owns 1,107 shares of the company’s stock valued at $38,000 after purchasing an additional 511 shares in the last quarter. Osaic Holdings Inc. lifted its position in shares of Warner Music Group by 480.9% during the second quarter. Osaic Holdings Inc. now owns 1,493 shares of the company’s stock worth $41,000 after purchasing an additional 1,236 shares during the last quarter. Finally, Mather Group LLC. acquired a new position in Warner Music Group in the third quarter worth about $42,000. Institutional investors and hedge funds own 96.88% of the company’s stock.

Warner Music Group Price Performance

Shares of NASDAQ WMG opened at $29.45 on Friday. The company has a debt-to-equity ratio of 5.30, a current ratio of 0.70 and a quick ratio of 0.69. The firm has a market capitalization of $15.38 billion, a PE ratio of 50.78, a P/E/G ratio of 0.49 and a beta of 1.24. Warner Music Group Corp. has a 1-year low of $25.56 and a 1-year high of $36.64. The business’s fifty day moving average price is $29.68 and its two-hundred day moving average price is $31.05.

Warner Music Group (NASDAQ:WMG) last released its quarterly earnings data on Thursday, February 5th. The company reported $0.33 earnings per share for the quarter, missing analysts’ consensus estimates of $0.40 by ($0.07). The firm had revenue of $1.84 billion during the quarter, compared to analyst estimates of $1.77 billion. Warner Music Group had a return on equity of 38.33% and a net margin of 4.43%.The firm’s revenue was up 10.4% on a year-over-year basis. During the same period last year, the business earned $0.45 EPS. On average, research analysts expect that Warner Music Group Corp. will post 1.39 EPS for the current year.

Warner Music Group Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, March 3rd. Stockholders of record on Wednesday, February 18th will be issued a dividend of $0.19 per share. This represents a $0.76 dividend on an annualized basis and a dividend yield of 2.6%. The ex-dividend date of this dividend is Wednesday, February 18th. Warner Music Group’s payout ratio is 131.03%.

Wall Street Analyst Weigh In

Several analysts have issued reports on WMG shares. Sanford C. Bernstein restated an “outperform” rating on shares of Warner Music Group in a research note on Wednesday, January 14th. Citigroup dropped their price target on Warner Music Group from $41.00 to $40.00 and set a “buy” rating on the stock in a research report on Wednesday, January 21st. Weiss Ratings restated a “hold (c)” rating on shares of Warner Music Group in a research note on Monday, December 29th. Jefferies Financial Group lowered their target price on shares of Warner Music Group from $38.00 to $35.00 and set a “buy” rating for the company in a research note on Thursday, December 11th. Finally, Wall Street Zen cut shares of Warner Music Group from a “buy” rating to a “hold” rating in a report on Saturday, January 3rd. Twelve equities research analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $35.69.

About Warner Music Group

Warner Music Group is a major global music company that operates across recorded music and music publishing. Its recorded-music business comprises a portfolio of well-known labels—including Atlantic, Warner Records and Parlophone—as well as distribution and artist-services operations that support both established and emerging artists. The company’s publishing arm, Warner Chappell Music, manages songwriting catalogs and administers rights for compositions across multiple media, providing licensing for film, television, advertising and other commercial uses.

WMG’s activities span the full music value chain: signing and developing artists, producing and marketing recordings, distributing music through physical channels and streaming platforms, and monetizing rights through licensing, synchronization and neighboring-rights collection.