FBN Securities Begins Coverage on Warner Music Group (NASDAQ:WMG)

Stock analysts at FBN Securities assumed coverage on shares of Warner Music Group (NASDAQ:WMG) in a research report issued on Friday, MarketBeat Ratings reports. The firm set a “sector perform” rating and a $35.00 price target on the stock. FBN Securities’ price objective would indicate a potential upside of 10.90% from the stock’s previous close.

Several other research analysts also recently issued reports on WMG. Evercore ISI reduced their price target on shares of Warner Music Group from $36.00 to $35.00 and set an “outperform” rating on the stock in a research report on Thursday, January 9th. Citigroup raised shares of Warner Music Group from a “neutral” rating to a “buy” rating and increased their price target for the company from $34.00 to $42.00 in a research note on Friday, February 14th. Macquarie restated a “neutral” rating and issued a $30.00 price objective on shares of Warner Music Group in a research report on Thursday, January 30th. UBS Group reduced their price objective on Warner Music Group from $43.00 to $41.00 and set a “buy” rating on the stock in a report on Friday, January 10th. Finally, Morgan Stanley lowered their target price on Warner Music Group from $38.00 to $37.00 and set an “overweight” rating for the company in a research note on Monday, January 13th. Two equities research analysts have rated the stock with a sell rating, five have given a hold rating and ten have issued a buy rating to the company’s stock. According to MarketBeat, Warner Music Group currently has an average rating of “Hold” and an average price target of $35.76.

Warner Music Group Stock Performance

NASDAQ:WMG opened at $31.56 on Friday. The stock has a market capitalization of $16.42 billion, a P/E ratio of 32.20, a price-to-earnings-growth ratio of 1.03 and a beta of 1.33. The company has a current ratio of 0.69, a quick ratio of 0.67 and a debt-to-equity ratio of 5.67. Warner Music Group has a 1 year low of $27.06 and a 1 year high of $36.64. The firm has a 50 day moving average of $33.04 and a 200-day moving average of $32.02.

Warner Music Group (NASDAQ:WMG) last issued its quarterly earnings data on Thursday, February 6th. The company reported $0.45 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.34 by $0.11. Warner Music Group had a return on equity of 79.01% and a net margin of 8.07%. As a group, sell-side analysts anticipate that Warner Music Group will post 1.39 EPS for the current fiscal year.

Insider Buying and Selling at Warner Music Group

In other Warner Music Group news, EVP Timothy Matusch sold 1,103 shares of the business’s stock in a transaction dated Friday, February 14th. The stock was sold at an average price of $36.49, for a total value of $40,248.47. Following the completion of the transaction, the executive vice president now directly owns 88,649 shares of the company’s stock, valued at approximately $3,234,802.01. The trade was a 1.23 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Valentin Blavatnik sold 28,230 shares of the firm’s stock in a transaction dated Thursday, February 20th. The stock was sold at an average price of $35.45, for a total value of $1,000,753.50. Following the sale, the director now directly owns 68,264 shares in the company, valued at approximately $2,419,958.80. This represents a 29.26 % decrease in their position. The disclosure for this sale can be found here. Insiders own 72.21% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of WMG. Itau Unibanco Holding S.A. raised its holdings in shares of Warner Music Group by 122.6% during the fourth quarter. Itau Unibanco Holding S.A. now owns 1,064 shares of the company’s stock worth $33,000 after acquiring an additional 586 shares during the period. SBI Securities Co. Ltd. acquired a new stake in shares of Warner Music Group in the 4th quarter valued at about $35,000. Aster Capital Management DIFC Ltd bought a new stake in shares of Warner Music Group in the fourth quarter valued at about $43,000. State of Wyoming acquired a new position in shares of Warner Music Group during the fourth quarter worth about $47,000. Finally, GAMMA Investing LLC grew its holdings in shares of Warner Music Group by 379.5% during the fourth quarter. GAMMA Investing LLC now owns 1,774 shares of the company’s stock worth $55,000 after buying an additional 1,404 shares in the last quarter. Institutional investors own 96.88% 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.