SBI Securities Co. Ltd. Invests $35,000 in Warner Music Group Corp. (NASDAQ:WMG)

SBI Securities Co. Ltd. acquired a new position in shares of Warner Music Group Corp. (NASDAQ:WMG) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 1,116 shares of the company’s stock, valued at approximately $35,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Assetmark Inc. lifted its position in Warner Music Group by 9,400.0% in the 3rd quarter. Assetmark Inc. now owns 1,235 shares of the company’s stock valued at $39,000 after acquiring an additional 1,222 shares in the last quarter. GAMMA Investing LLC lifted 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 valued at $55,000 after purchasing an additional 1,404 shares in the last quarter. Rosenberg Matthew Hamilton boosted its position in shares of Warner Music Group by 14.0% during the fourth quarter. Rosenberg Matthew Hamilton now owns 3,705 shares of the company’s stock valued at $115,000 after buying an additional 455 shares during the last quarter. Fifth Third Bancorp raised its position in Warner Music Group by 13.1% in the 4th quarter. Fifth Third Bancorp now owns 3,967 shares of the company’s stock worth $123,000 after buying an additional 458 shares during the last quarter. Finally, OneDigital Investment Advisors LLC bought a new position in Warner Music Group during the 3rd quarter valued at about $247,000. Hedge funds and other institutional investors own 96.88% of the company’s stock.

Analysts Set New Price Targets

WMG has been the topic of several research reports. Macquarie restated a “neutral” rating and issued a $30.00 target price on shares of Warner Music Group in a report on Thursday, January 30th. Guggenheim restated a “buy” rating and issued a $40.00 price target on shares of Warner Music Group in a research note on Friday, February 7th. Loop Capital cut their price objective on Warner Music Group from $38.00 to $35.00 and set a “hold” rating for the company in a report on Monday, November 25th. Citigroup raised Warner Music Group from a “neutral” rating to a “buy” rating and increased their target price for the company from $34.00 to $42.00 in a report on Friday, February 14th. Finally, Barclays cut their price target on Warner Music Group from $32.00 to $31.00 and set an “equal weight” rating for the company in a research note on Friday, November 22nd. Two equities research analysts have rated the stock with a sell rating, four have assigned a hold rating and ten have assigned a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $35.81.

Warner Music Group Stock Down 1.8 %

Shares of WMG opened at $33.44 on Wednesday. The firm has a fifty day moving average price of $32.42 and a 200-day moving average price of $31.66. The company has a current ratio of 0.69, a quick ratio of 0.67 and a debt-to-equity ratio of 5.67. The firm has a market capitalization of $17.40 billion, a P/E ratio of 34.12, a P/E/G ratio of 1.03 and a beta of 1.33. Warner Music Group Corp. has a 12-month low of $27.06 and a 12-month high of $36.64.

Warner Music Group (NASDAQ:WMG) last issued its earnings results on Thursday, February 6th. The company reported $0.45 EPS for the quarter, topping analysts’ consensus estimates of $0.34 by $0.11. Warner Music Group had a net margin of 8.07% and a return on equity of 79.01%. Equities research analysts expect that Warner Music Group Corp. will post 1.39 earnings per share for the current year.

Warner Music Group Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, March 4th. Shareholders of record on Monday, February 24th were issued a $0.18 dividend. This represents a $0.72 annualized dividend and a dividend yield of 2.15%. The ex-dividend date of this dividend was Monday, February 24th. Warner Music Group’s dividend payout ratio is 73.47%.

Insider Activity

In other Warner Music Group news, Director Lincoln E. Benet sold 35,000 shares of the business’s stock in a transaction dated Friday, December 20th. The shares were sold at an average price of $30.96, for a total value of $1,083,600.00. Following the completion of the transaction, the director now directly owns 242,360 shares in the company, valued at approximately $7,503,465.60. The trade was a 12.62 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP Timothy Matusch sold 1,103 shares of the business’s stock in a transaction that occurred on Friday, February 14th. The stock was sold at an average price of $36.49, for a total transaction of $40,248.47. Following the transaction, the executive vice president now owns 88,649 shares of the company’s stock, valued at approximately $3,234,802.01. This trade represents a 1.23 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 64,333 shares of company stock worth $2,124,602. Company insiders own 72.21% 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.