Barclays Lowers Warner Music Group (NASDAQ:WMG) Price Target to $31.00

Warner Music Group (NASDAQ:WMG) had its price objective cut by equities researchers at Barclays from $32.00 to $31.00 in a research report issued on Friday,Benzinga reports. The brokerage presently has an “equal weight” rating on the stock. Barclays‘s price target would suggest a potential downside of 2.67% from the company’s previous close.

WMG has been the topic of a number of other research reports. Bank of America reiterated an “underperform” rating and set a $30.00 price target (down previously from $33.00) on shares of Warner Music Group in a report on Friday, October 4th. Wells Fargo & Company cut their price target on shares of Warner Music Group from $37.00 to $34.00 and set an “equal weight” rating on the stock in a report on Thursday, August 8th. Deutsche Bank Aktiengesellschaft cut their price target on shares of Warner Music Group from $42.00 to $36.00 and set a “buy” rating on the stock in a report on Tuesday, August 13th. Macquarie cut their price target on shares of Warner Music Group from $32.00 to $30.00 and set a “neutral” rating on the stock in a report on Friday, October 11th. Finally, Tigress Financial cut their price target on shares of Warner Music Group from $52.00 to $44.00 and set a “buy” rating on the stock in a report on Thursday, September 12th. Two research analysts have rated the stock with a sell rating, four have given a hold rating and eight have issued a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $36.00.

Warner Music Group Price Performance

Shares of WMG opened at $31.85 on Friday. The firm’s 50-day simple moving average is $31.78 and its two-hundred day simple moving average is $30.65. Warner Music Group has a fifty-two week low of $27.06 and a fifty-two week high of $38.05. The company has a debt-to-equity ratio of 5.95, a quick ratio of 0.67 and a current ratio of 0.68. The stock has a market cap of $16.50 billion, a PE ratio of 38.37, a price-to-earnings-growth ratio of 0.97 and a beta of 1.37.

Insider Buying and Selling at Warner Music Group

In other Warner Music Group news, CEO Max Lousada sold 135,324 shares of Warner Music Group stock in a transaction on Thursday, September 5th. The shares were sold at an average price of $28.17, for a total value of $3,812,077.08. Following the sale, the chief executive officer now directly owns 2,725,964 shares in the company, valued at approximately $76,790,405.88. The trade was a 4.73 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In the last ninety days, insiders have sold 628,205 shares of company stock worth $17,628,757. Insiders own 73.35% of the company’s stock.

Institutional Trading of Warner Music Group

Institutional investors and hedge funds have recently bought and sold shares of the stock. Benjamin Edwards Inc. grew its stake in shares of 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 in the last quarter. Concord Wealth Partners purchased a new position in shares of Warner Music Group in the 3rd quarter worth $30,000. ORG Partners LLC grew its stake in shares of Warner Music Group by 5,790.5% in the 2nd quarter. ORG Partners LLC now owns 1,237 shares of the company’s stock worth $37,000 after buying an additional 1,216 shares in the last quarter. Assetmark Inc. grew its stake in shares of Warner Music Group by 9,400.0% in the 3rd quarter. Assetmark Inc. now owns 1,235 shares of the company’s stock worth $39,000 after buying an additional 1,222 shares in the last quarter. Finally, ORG Wealth Partners LLC purchased a new position in shares of Warner Music Group in the 3rd quarter worth $73,000. 96.88% of the stock is currently owned by institutional investors.

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.