10,059 Shares in Warner Music Group Corp. (NASDAQ:WMG) Acquired by Xponance Inc.

Xponance Inc. bought a new position in Warner Music Group Corp. (NASDAQ:WMG) in the second quarter, according to the company in its most recent 13F filing with the SEC. The fund bought 10,059 shares of the company’s stock, valued at approximately $308,000.

A number of other hedge funds also recently bought and sold shares of WMG. Benjamin Edwards Inc. lifted its position in Warner Music Group by 74.5% in the 2nd quarter. Benjamin Edwards Inc. now owns 953 shares of the company’s stock worth $29,000 after buying an additional 407 shares during the last quarter. ORG Partners LLC lifted its position in Warner Music Group by 5,790.5% in the second quarter. ORG Partners LLC now owns 1,237 shares of the company’s stock valued at $37,000 after purchasing an additional 1,216 shares during the last quarter. Mather Group LLC. bought a new stake in Warner Music Group in the first quarter valued at approximately $45,000. Headlands Technologies LLC bought a new stake in Warner Music Group in the first quarter valued at approximately $82,000. Finally, Itau Unibanco Holding S.A. bought a new stake in Warner Music Group in the second quarter valued at approximately $86,000. Institutional investors own 96.88% of the company’s stock.

Insider Transactions at Warner Music Group

In other news, CEO Max Lousada sold 428,834 shares of the stock in a transaction on Tuesday, September 10th. The stock was 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 of the company’s stock, valued at $64,113,588. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Over the last three months, insiders have sold 628,205 shares of company stock valued at $17,628,757. Insiders own 73.35% of the company’s stock.

Wall Street Analyst Weigh In

WMG has been the subject of several recent research reports. Jefferies Financial Group initiated coverage on Warner Music Group in a research report on Thursday, July 11th. They issued a “buy” rating and a $38.00 price objective for the company. Redburn Atlantic reiterated a “sell” rating and issued a $23.00 price objective (up previously from $21.00) on shares of Warner Music Group in a research report on Wednesday, July 10th. Macquarie reiterated a “neutral” rating and issued a $32.00 price objective on shares of Warner Music Group in a research report on Thursday, August 8th. Wells Fargo & Company reduced their target price on Warner Music Group from $37.00 to $34.00 and set an “equal weight” rating on the stock in a research note on Thursday, August 8th. Finally, Tigress Financial reduced their target price on Warner Music Group from $52.00 to $44.00 and set a “buy” rating on the stock in a research note on Thursday, September 12th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat, Warner Music Group presently has an average rating of “Moderate Buy” and an average target price of $36.92.

Warner Music Group Price Performance

Shares of WMG stock opened at $31.39 on Wednesday. The stock has a market cap of $16.26 billion, a price-to-earnings ratio of 31.39, a PEG ratio of 1.31 and a beta of 1.37. The business’s fifty day moving average is $29.18 and its 200 day moving average is $30.97. Warner Music Group Corp. has a twelve month low of $27.06 and a twelve month high of $38.05. The company has a quick ratio of 0.67, a current ratio of 0.69 and a debt-to-equity ratio of 6.26.

Warner Music Group (NASDAQ:WMG) last issued its quarterly earnings results on Wednesday, August 7th. The company reported $0.27 earnings per share for the quarter, topping the consensus estimate of $0.25 by $0.02. The company had revenue of $1.55 billion for the quarter, compared to analysts’ expectations of $1.58 billion. Warner Music Group had a return on equity of 101.32% and a net margin of 8.56%. Research analysts expect that Warner Music Group Corp. will post 1.04 EPS for the current fiscal year.

Warner Music Group Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, September 4th. Stockholders of record on Tuesday, August 27th were paid a $0.18 dividend. This is a boost 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 2.29%. The ex-dividend date was Tuesday, August 27th. Warner Music Group’s dividend payout ratio is currently 72.00%.

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.