Warner Music Group Corp. (NASDAQ:WMG) Shares Sold by Olympiad Research LP

Olympiad Research LP cut its holdings in Warner Music Group Corp. (NASDAQ:WMG) by 9.9% in the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 9,000 shares of the company’s stock after selling 988 shares during the period. Olympiad Research LP’s holdings in Warner Music Group were worth $282,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also modified their holdings of the company. Benjamin Edwards Inc. boosted its holdings 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 buying an additional 407 shares during the period. Concord Wealth Partners acquired a new position in shares of Warner Music Group in the 3rd quarter valued at about $30,000. ORG Partners LLC boosted its holdings in shares of Warner Music Group by 5,790.5% in the 2nd quarter. ORG Partners LLC now owns 1,237 shares of the company’s stock valued at $37,000 after buying an additional 1,216 shares during the period. ORG Wealth Partners LLC acquired a new position in Warner Music Group during the 3rd quarter valued at about $73,000. Finally, Headlands Technologies LLC acquired a new position in Warner Music Group during the 1st quarter valued at about $82,000. 96.88% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, CEO Max Lousada sold 428,834 shares of the business’s stock in a transaction that occurred on Tuesday, September 10th. The shares were sold at an average price of $28.00, for a total value of $12,007,352.00. Following the sale, the chief executive officer now directly owns 2,289,771 shares in the company, valued at $64,113,588. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders have sold 628,205 shares of company stock worth $17,628,757 in the last ninety days. 73.35% of the stock is currently owned by corporate insiders.

Warner Music Group Trading Up 1.6 %

Shares of NASDAQ:WMG opened at $32.89 on Friday. The company has a 50 day moving average of $30.69 and a 200-day moving average of $30.68. The firm has a market cap of $17.03 billion, a P/E ratio of 31.63, a P/E/G ratio of 1.05 and a beta of 1.37. Warner Music Group Corp. has a twelve month low of $27.06 and a twelve month high of $38.05. The company has a current ratio of 0.69, a quick ratio of 0.67 and a debt-to-equity ratio of 6.26.

Warner Music Group (NASDAQ:WMG) last released its earnings results on Wednesday, August 7th. The company reported $0.27 EPS for the quarter, topping analysts’ consensus estimates 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 business had revenue of $1.55 billion for the quarter, compared to the consensus estimate of $1.58 billion. As a group, analysts anticipate that Warner Music Group Corp. will post 1.05 earnings per share for the current fiscal year.

Warner Music Group Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, September 4th. Investors of record on Tuesday, August 27th were issued a $0.18 dividend. This is an increase from Warner Music Group’s previous quarterly dividend of $0.17. This represents a $0.72 dividend on an annualized basis and a dividend yield of 2.19%. The ex-dividend date of this dividend was Tuesday, August 27th. Warner Music Group’s payout ratio is presently 69.23%.

Analyst Ratings Changes

A number of research firms have issued reports on WMG. Deutsche Bank Aktiengesellschaft reduced their target price on shares of Warner Music Group from $42.00 to $36.00 and set a “buy” rating for the company in a research note on Tuesday, August 13th. Jefferies Financial Group began coverage on shares of Warner Music Group in a research note on Thursday, July 11th. They set a “buy” rating and a $38.00 target price for the company. Wolfe Research began coverage on shares of Warner Music Group in a research note on Friday, July 12th. They set an “outperform” rating and a $37.00 target price for the company. Macquarie reduced their target price on shares of Warner Music Group from $32.00 to $30.00 and set a “neutral” rating for the company in a research note on Friday, October 11th. Finally, Bank of America reissued an “underperform” rating and set a $30.00 target price (down from $33.00) on shares of Warner Music Group in a research note on Friday, October 4th. Two equities research analysts have rated the stock with a sell rating, three have issued a hold rating and seven have issued a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $36.17.

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.