Warner Music Group (NASDAQ:WMG) Price Target Cut to $31.00 by Analysts at Barclays

Warner Music Group (NASDAQ:WMG) had its price target lowered by equities researchers at Barclays from $32.00 to $31.00 in a research note issued on Friday,Benzinga reports. The brokerage currently has an “equal weight” rating on the stock. Barclays‘s price objective would suggest a potential downside of 1.05% from the stock’s current price.

WMG has been the topic of a number of other research reports. Wells Fargo & Company cut their price objective on shares of Warner Music Group from $37.00 to $34.00 and set an “equal weight” rating on the stock in a research report on Thursday, August 8th. Evercore ISI cut their price target on shares of Warner Music Group from $40.00 to $36.00 and set an “outperform” rating on the stock in a research report on Thursday, August 8th. Tigress Financial decreased their price objective on Warner Music Group from $52.00 to $44.00 and set a “buy” rating for the company in a report on Thursday, September 12th. Deutsche Bank Aktiengesellschaft lowered their target price on Warner Music Group from $42.00 to $36.00 and set a “buy” rating on the stock in a research report on Tuesday, August 13th. Finally, Bank of America restated an “underperform” rating and issued a $30.00 price target (down from $33.00) on shares of Warner Music Group in a research note on Friday, October 4th. Two research analysts have rated the stock with a sell rating, four have issued a hold rating and seven have given a buy rating to the stock. According to MarketBeat, Warner Music Group has an average rating of “Hold” and an average target price of $35.77.

Warner Music Group Stock Up 0.5 %

Shares of Warner Music Group stock opened at $31.33 on Friday. The business has a 50-day moving average of $31.73 and a two-hundred day moving average of $30.71. Warner Music Group has a 1 year low of $27.06 and a 1 year high of $38.05. The company has a debt-to-equity ratio of 6.26, a current ratio of 0.69 and a quick ratio of 0.67. The company has a market capitalization of $16.23 billion, a P/E ratio of 29.98, a price-to-earnings-growth ratio of 1.06 and a beta of 1.37.

Insider Buying and Selling

In other Warner Music Group news, CEO Max Lousada sold 64,047 shares of the business’s stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $28.25, for a total transaction of $1,809,327.75. Following the completion of the transaction, the chief executive officer now directly owns 2,909,422 shares in the company, valued at $82,191,171.50. The trade was a 2.15 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Over the last quarter, insiders have sold 628,205 shares of company stock worth $17,628,757. Company insiders own 73.35% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in WMG. Benjamin Edwards Inc. boosted its position in Warner Music Group by 74.5% in the second quarter. Benjamin Edwards Inc. now owns 953 shares of the company’s stock valued at $29,000 after buying an additional 407 shares in the last quarter. Concord Wealth Partners bought a new position in shares of Warner Music Group in the 3rd quarter valued at $30,000. 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 valued at $37,000 after acquiring an additional 1,216 shares in the last quarter. Assetmark Inc. grew its position in Warner Music Group by 9,400.0% during the 3rd quarter. Assetmark Inc. now owns 1,235 shares of the company’s stock worth $39,000 after acquiring an additional 1,222 shares during the last quarter. Finally, ORG Wealth Partners LLC acquired a new position in Warner Music Group in the 3rd quarter worth about $73,000. Institutional investors own 96.88% of the company’s stock.

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.