JPMorgan Chase & Co. Issues Pessimistic Forecast for Warner Music Group (NASDAQ:WMG) Stock Price

Warner Music Group (NASDAQ:WMG) had its target price reduced by research analysts at JPMorgan Chase & Co. from $41.00 to $40.00 in a note issued to investors on Friday,Benzinga reports. The firm presently has an “overweight” rating on the stock. JPMorgan Chase & Co.‘s price objective would suggest a potential upside of 25.59% from the company’s previous close.

Other research analysts also recently issued reports about the stock. Wells Fargo & Company lowered their price objective on shares of Warner Music Group from $37.00 to $34.00 and set an “equal weight” rating for the company in a research report on Thursday, August 8th. Deutsche Bank Aktiengesellschaft lowered their price target on shares of Warner Music Group from $42.00 to $36.00 and set a “buy” rating for the company in a report on Tuesday, August 13th. Evercore ISI lowered their price target on shares of Warner Music Group from $40.00 to $36.00 and set an “outperform” rating for the company in a report on Thursday, August 8th. Macquarie lowered their price target on shares of Warner Music Group from $32.00 to $30.00 and set a “neutral” rating for the company in a report on Friday, October 11th. Finally, Tigress Financial lowered their price target on shares of Warner Music Group from $52.00 to $44.00 and set a “buy” rating for the company in a report on Thursday, September 12th. Two investment analysts have rated the stock with a sell rating, four have assigned a hold rating and eight have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $36.00.

Warner Music Group Stock Up 2.1 %

Shares of WMG opened at $31.85 on Friday. Warner Music Group has a one year low of $27.06 and a one year high of $38.05. The company has a market cap of $16.50 billion, a P/E ratio of 38.37, a P/E/G ratio of 0.97 and a beta of 1.37. The company has a debt-to-equity ratio of 5.95, a current ratio of 0.68 and a quick ratio of 0.67. The firm has a 50 day simple moving average of $31.78 and a two-hundred day simple moving average of $30.65.

Insider Activity at Warner Music Group

In other Warner Music Group news, CEO Max Lousada sold 428,834 shares of the company’s stock in a transaction on Tuesday, September 10th. The shares were sold at an average price of $28.00, for a total transaction of $12,007,352.00. Following the sale, the chief executive officer now owns 2,289,771 shares of the company’s stock, valued at approximately $64,113,588. This represents a 15.77 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Insiders sold 628,205 shares of company stock worth $17,628,757 over the last three months. Company insiders own 73.35% of the company’s stock.

Institutional Trading of Warner Music Group

A number of institutional investors have recently bought and sold shares of WMG. Benjamin Edwards Inc. boosted its position in shares of Warner Music Group by 74.5% during the 2nd quarter. Benjamin Edwards Inc. now owns 953 shares of the company’s stock worth $29,000 after purchasing an additional 407 shares in the last quarter. Concord Wealth Partners bought a new position in shares of Warner Music Group during the 3rd quarter worth about $30,000. ORG Partners LLC boosted its position in shares of Warner Music Group by 5,790.5% during the 2nd quarter. ORG Partners LLC now owns 1,237 shares of the company’s stock worth $37,000 after purchasing an additional 1,216 shares in the last quarter. Assetmark Inc. boosted its position in shares of Warner Music Group by 9,400.0% during the 3rd quarter. Assetmark Inc. now owns 1,235 shares of the company’s stock worth $39,000 after purchasing an additional 1,222 shares in the last quarter. Finally, ORG Wealth Partners LLC bought a new position in shares of Warner Music Group during the 3rd quarter worth about $73,000. Institutional investors own 96.88% of the company’s stock.

About Warner Music Group

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.