Warner Music Group Corp. (NASDAQ:WMG) Shares Acquired by Charles Schwab Investment Management Inc.

Charles Schwab Investment Management Inc. lifted its stake in shares of Warner Music Group Corp. (NASDAQ:WMG) by 0.4% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 904,777 shares of the company’s stock after acquiring an additional 3,752 shares during the period. Charles Schwab Investment Management Inc. owned 0.17% of Warner Music Group worth $28,320,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. Benjamin Edwards Inc. boosted its stake 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. Concord Wealth Partners purchased a new stake in Warner Music Group during the 3rd quarter worth approximately $30,000. ORG Partners LLC increased its holdings in 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 during the last quarter. Assetmark Inc. increased its holdings in 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 during the last quarter. Finally, ORG Wealth Partners LLC acquired a new position in shares of Warner Music Group in the 3rd quarter worth approximately $73,000. 96.88% of the stock is owned by institutional investors and hedge funds.

Warner Music Group Stock Down 1.2 %

Shares of Warner Music Group stock opened at $31.94 on Thursday. The company has a current ratio of 0.68, a quick ratio of 0.65 and a debt-to-equity ratio of 5.95. Warner Music Group Corp. has a 1 year low of $27.06 and a 1 year high of $38.05. The stock has a 50-day moving average price of $32.04 and a 200 day moving average price of $30.63. The company has a market cap of $16.54 billion, a P/E ratio of 38.48, a P/E/G ratio of 0.70 and a beta of 1.35.

Warner Music Group (NASDAQ:WMG) last issued its earnings results on Thursday, November 21st. The company reported $0.08 earnings per share for the quarter, missing the consensus estimate of $0.28 by ($0.20). Warner Music Group had a return on equity of 69.29% and a net margin of 6.77%. The firm had revenue of $1.63 billion during the quarter, compared to analyst estimates of $1.59 billion. During the same period in the previous year, the company earned $0.34 earnings per share. The business’s revenue for the quarter was up 2.8% on a year-over-year basis. As a group, analysts expect that Warner Music Group Corp. will post 1.34 EPS for the current fiscal year.

Warner Music Group Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, December 3rd. Shareholders of record on Tuesday, November 19th were given a $0.18 dividend. This represents a $0.72 annualized dividend and a yield of 2.25%. The ex-dividend date of this dividend was Tuesday, November 19th. Warner Music Group’s payout ratio is currently 86.75%.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on the company. Guggenheim reiterated a “buy” rating and issued a $44.00 target price on shares of Warner Music Group in a research report on Wednesday. Tigress Financial reduced their price target on Warner Music Group from $52.00 to $44.00 and set a “buy” rating for the company in a research report on Thursday, September 12th. Loop Capital reduced their price target on Warner Music Group from $38.00 to $35.00 and set a “hold” rating for the company in a research report on Monday, November 25th. Deutsche Bank Aktiengesellschaft dropped their price objective on Warner Music Group from $42.00 to $36.00 and set a “buy” rating on the stock in a research note on Tuesday, August 13th. Finally, Macquarie reissued a “neutral” rating and issued a $30.00 price objective on shares of Warner Music Group in a research note on Friday, November 22nd. Two research analysts have rated the stock with a sell rating, five have issued a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $35.67.

Insiders Place Their Bets

In other news, CEO Max Lousada sold 428,834 shares of the stock in a transaction dated Tuesday, September 10th. The stock was sold at an average price of $28.00, for a total transaction of $12,007,352.00. Following the transaction, 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 position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 73.35% of the company’s stock.

Warner Music Group Company 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.