Handelsbanken Fonder AB Buys 19,642 Shares of Warner Music Group Corp. $WMG

Handelsbanken Fonder AB boosted its position in Warner Music Group Corp. (NASDAQ:WMGFree Report) by 87.1% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 42,200 shares of the company’s stock after purchasing an additional 19,642 shares during the quarter. Handelsbanken Fonder AB’s holdings in Warner Music Group were worth $1,142,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently modified their holdings of the business. Quarry LP purchased a new stake in Warner Music Group in the fourth quarter valued at approximately $40,000. Caitong International Asset Management Co. Ltd increased its holdings in shares of Warner Music Group by 774.6% in the third quarter. Caitong International Asset Management Co. Ltd now owns 1,207 shares of the company’s stock worth $41,000 after buying an additional 1,069 shares during the period. Osaic Holdings Inc. lifted its position in Warner Music Group by 480.9% in the second quarter. Osaic Holdings Inc. now owns 1,493 shares of the company’s stock valued at $41,000 after purchasing an additional 1,236 shares during the last quarter. Parallel Advisors LLC raised its holdings in Warner Music Group by 355.7% during the 4th quarter. Parallel Advisors LLC now owns 1,531 shares of the company’s stock valued at $47,000 after buying an additional 1,195 shares during the last quarter. Finally, Quadrant Capital Group LLC raised its stake in shares of Warner Music Group by 740.0% during the fourth quarter. Quadrant Capital Group LLC now owns 1,890 shares of the company’s stock valued at $58,000 after acquiring an additional 1,665 shares during the last quarter. Hedge funds and other institutional investors own 96.88% of the company’s stock.

Warner Music Group Trading Down 0.3%

Shares of Warner Music Group stock opened at $26.30 on Wednesday. The company has a debt-to-equity ratio of 4.94, a quick ratio of 0.72 and a current ratio of 0.73. Warner Music Group Corp. has a fifty-two week low of $23.34 and a fifty-two week high of $35.42. The company has a fifty day moving average of $27.41 and a 200 day moving average of $28.47. The company has a market capitalization of $13.76 billion, a P/E ratio of 20.87, a P/E/G ratio of 0.44 and a beta of 1.30.

Warner Music Group (NASDAQ:WMGGet Free Report) last issued its earnings results on Wednesday, August 5th. The company reported $0.51 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.34 by $0.17. The company had revenue of $1.86 billion for the quarter, compared to the consensus estimate of $1.81 billion. Warner Music Group had a return on equity of 85.50% and a net margin of 9.20%.The firm’s quarterly revenue was up 10.4% on a year-over-year basis. During the same quarter last year, the company earned ($0.03) EPS. On average, sell-side analysts anticipate that Warner Music Group Corp. will post 1.45 earnings per share for the current fiscal year.

Warner Music Group Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 1st. Stockholders of record on Thursday, August 20th will be issued a $0.20 dividend. This represents a $0.80 annualized dividend and a dividend yield of 3.0%. This is a positive change from Warner Music Group’s previous quarterly dividend of $0.19. The ex-dividend date of this dividend is Thursday, August 20th. Warner Music Group’s payout ratio is presently 60.32%.

Analysts Set New Price Targets

A number of brokerages recently commented on WMG. Weiss Ratings restated a “hold (c)” rating on shares of Warner Music Group in a report on Wednesday, June 24th. Zacks Research lowered shares of Warner Music Group from a “strong-buy” rating to a “hold” rating in a report on Monday, June 22nd. Wall Street Zen lowered Warner Music Group from a “buy” rating to a “hold” rating in a research report on Saturday, July 18th. JPMorgan Chase & Co. boosted their price objective on shares of Warner Music Group from $40.00 to $43.00 and gave the stock an “overweight” rating in a report on Friday, May 8th. Finally, UBS Group upped their target price on shares of Warner Music Group from $40.00 to $42.00 and gave the company a “buy” rating in a research note on Friday, May 8th. Thirteen research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company’s stock. According to data from MarketBeat, Warner Music Group presently has an average rating of “Moderate Buy” and an average target price of $38.77.

Get Our Latest Stock Analysis on Warner Music Group

About Warner Music Group

(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

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

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