VCI Wealth Management LLC Takes $821,000 Position in Warner Music Group Corp. (NASDAQ:WMG)

VCI Wealth Management LLC bought a new stake in shares of Warner Music Group Corp. (NASDAQ:WMG) in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm bought 22,936 shares of the company’s stock, valued at approximately $821,000.

Other large investors also recently modified their holdings of the company. Mackenzie Financial Corp bought a new position in shares of Warner Music Group during the fourth quarter worth about $1,664,000. DekaBank Deutsche Girozentrale lifted its position in shares of Warner Music Group by 198.4% during the fourth quarter. DekaBank Deutsche Girozentrale now owns 48,880 shares of the company’s stock worth $1,723,000 after purchasing an additional 32,500 shares during the last quarter. Hahn Capital Management LLC bought a new position in shares of Warner Music Group during the fourth quarter worth about $4,863,000. Fifth Third Bancorp bought a new position in shares of Warner Music Group during the fourth quarter worth about $38,000. Finally, Capital City Trust Co. FL lifted its position in shares of Warner Music Group by 21.4% during the fourth quarter. Capital City Trust Co. FL now owns 9,096 shares of the company’s stock worth $326,000 after purchasing an additional 1,602 shares during the last quarter. 96.88% of the stock is currently owned by institutional investors and hedge funds.

Warner Music Group Price Performance

Shares of NASDAQ WMG traded down $0.42 during mid-day trading on Thursday, reaching $31.55. 1,046,686 shares of the company traded hands, compared to its average volume of 1,458,171. Warner Music Group Corp. has a fifty-two week low of $23.62 and a fifty-two week high of $38.05. The company has a debt-to-equity ratio of 6.50, a current ratio of 0.70 and a quick ratio of 0.67. The firm has a market cap of $16.34 billion, a PE ratio of 36.33, a price-to-earnings-growth ratio of 2.02 and a beta of 1.46. The stock has a fifty day simple moving average of $33.88 and a 200-day simple moving average of $34.04.

Warner Music Group (NASDAQ:WMG) last posted its quarterly earnings data on Wednesday, February 7th. The company reported $0.30 EPS for the quarter, missing analysts’ consensus estimates of $0.43 by ($0.13). Warner Music Group had a net margin of 7.42% and a return on equity of 128.86%. The company had revenue of $1.75 billion for the quarter, compared to analyst estimates of $1.68 billion. Equities research analysts anticipate that Warner Music Group Corp. will post 0.99 EPS for the current fiscal year.

Warner Music Group Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 1st. Shareholders of record on Thursday, February 22nd were given a $0.17 dividend. The ex-dividend date of this dividend was Wednesday, February 21st. This represents a $0.68 annualized dividend and a yield of 2.16%. Warner Music Group’s dividend payout ratio (DPR) is 77.27%.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on the stock. Loop Capital raised their target price on shares of Warner Music Group from $36.00 to $38.00 and gave the stock a “hold” rating in a report on Thursday, April 18th. Redburn Atlantic raised shares of Warner Music Group from a “sell” rating to a “neutral” rating and raised their target price for the stock from $17.00 to $21.00 in a report on Monday, February 5th. Finally, Guggenheim cut their target price on shares of Warner Music Group from $46.00 to $45.00 and set a “buy” rating on the stock in a report on Friday, April 5th. Six investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $36.88.

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.