Hahn Capital Management LLC Has $6.91 Million Stock Holdings in Warner Music Group Corp. $WMG

Hahn Capital Management LLC decreased its position in shares of Warner Music Group Corp. (NASDAQ:WMGFree Report) by 7.3% during the 4th quarter, Holdings Channel reports. The fund owned 225,348 shares of the company’s stock after selling 17,767 shares during the quarter. Warner Music Group accounts for about 3.7% of Hahn Capital Management LLC’s investment portfolio, making the stock its 13th biggest holding. Hahn Capital Management LLC’s holdings in Warner Music Group were worth $6,911,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently bought and sold shares of the company. JPMorgan Chase & Co. increased its stake in Warner Music Group by 15.2% in the fourth quarter. JPMorgan Chase & Co. now owns 16,645,276 shares of the company’s stock valued at $510,511,000 after purchasing an additional 2,200,362 shares in the last quarter. Millennium Management LLC boosted its position in shares of Warner Music Group by 178.5% during the third quarter. Millennium Management LLC now owns 3,183,654 shares of the company’s stock worth $108,435,000 after purchasing an additional 2,040,425 shares in the last quarter. Vanguard Group Inc. boosted its position in shares of Warner Music Group by 12.2% during the third quarter. Vanguard Group Inc. now owns 16,914,577 shares of the company’s stock worth $576,110,000 after purchasing an additional 1,837,801 shares in the last quarter. Barclays PLC grew its holdings in shares of Warner Music Group by 5,055.5% in the 3rd quarter. Barclays PLC now owns 1,860,687 shares of the company’s stock valued at $63,375,000 after buying an additional 1,824,596 shares during the period. Finally, UBS Group AG grew its holdings in shares of Warner Music Group by 112.8% in the 3rd quarter. UBS Group AG now owns 2,226,151 shares of the company’s stock valued at $75,823,000 after buying an additional 1,180,256 shares during the period. Institutional investors and hedge funds own 96.88% of the company’s stock.

Analyst Ratings Changes

WMG has been the topic of several research analyst reports. UBS Group raised their price objective on Warner Music Group from $40.00 to $42.00 and gave the stock a “buy” rating in a research note on Friday, May 8th. Guggenheim boosted their target price on Warner Music Group from $34.00 to $36.00 and gave the company a “buy” rating in a research note on Friday, May 8th. Evercore restated an “outperform” rating and issued a $43.00 price target on shares of Warner Music Group in a report on Friday, May 8th. Morgan Stanley set a $39.00 price target on Warner Music Group in a research report on Friday, May 8th. Finally, Wall Street Zen upgraded Warner Music Group from a “hold” rating to a “buy” rating in a report on Saturday, June 13th. One investment analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating and five have assigned a Hold rating to the company’s stock. According to MarketBeat, Warner Music Group has an average rating of “Moderate Buy” and an average price target of $37.38.

Check Out Our Latest Report on Warner Music Group

Warner Music Group Price Performance

Shares of NASDAQ WMG opened at $28.17 on Friday. The firm has a market cap of $14.69 billion, a PE ratio of 33.14, a PEG ratio of 0.42 and a beta of 1.27. The company has a current ratio of 0.73, a quick ratio of 0.71 and a debt-to-equity ratio of 5.62. Warner Music Group Corp. has a 1-year low of $23.34 and a 1-year high of $35.42. The company has a fifty day moving average price of $30.58 and a 200 day moving average price of $29.18.

Warner Music Group (NASDAQ:WMGGet Free Report) last released its quarterly earnings results on Thursday, May 7th. The company reported $0.44 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.30 by $0.14. Warner Music Group had a return on equity of 62.01% and a net margin of 6.34%.The firm had revenue of $1.73 billion for the quarter, compared to the consensus estimate of $1.61 billion. During the same quarter last year, the business posted $0.07 EPS. The company’s revenue for the quarter was up 16.7% on a year-over-year basis. Research analysts predict that Warner Music Group Corp. will post 1.52 earnings per share for the current fiscal year.

Warner Music Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, June 2nd. Investors of record on Tuesday, May 26th were issued a dividend of $0.19 per share. The ex-dividend date was Tuesday, May 26th. This represents a $0.76 dividend on an annualized basis and a dividend yield of 2.7%. Warner Music Group’s dividend payout ratio (DPR) is presently 89.41%.

Warner Music Group Company Profile

(Free Report)

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.

See Also

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Institutional Ownership by Quarter for Warner Music Group (NASDAQ:WMG)

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