Warner Music Group Corp. $WMG Shares Bought by DigitalBridge Group Inc.

DigitalBridge Group Inc. increased its holdings in Warner Music Group Corp. (NASDAQ:WMG) by 41.0% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,136,333 shares of the company’s stock after buying an additional 330,257 shares during the quarter. Warner Music Group comprises 3.0% of DigitalBridge Group Inc.’s portfolio, making the stock its 12th largest holding. DigitalBridge Group Inc.’s holdings in Warner Music Group were worth $38,704,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of WMG. Nisa Investment Advisors LLC lifted its stake in shares of Warner Music Group by 120.1% in the 3rd quarter. Nisa Investment Advisors LLC now owns 865 shares of the company’s stock worth $29,000 after acquiring an additional 472 shares during the period. Farther Finance Advisors LLC boosted its position in shares of Warner Music Group by 57.5% during the 3rd quarter. Farther Finance Advisors LLC now owns 879 shares of the company’s stock valued at $30,000 after purchasing an additional 321 shares in the last quarter. GAMMA Investing LLC grew its position in Warner Music Group by 85.7% in the third quarter. GAMMA Investing LLC now owns 1,107 shares of the company’s stock worth $38,000 after buying an additional 511 shares during the last quarter. Osaic Holdings Inc. boosted its stake in shares of Warner Music Group by 480.9% during the 2nd quarter. Osaic Holdings Inc. now owns 1,493 shares of the company’s stock worth $41,000 after acquiring an additional 1,236 shares in the last quarter. Finally, Mather Group LLC. purchased a new stake in shares of Warner Music Group during the third quarter valued at $42,000. 96.88% of the stock is owned by institutional investors and hedge funds.

Warner Music Group Stock Down 3.3%

WMG stock opened at $26.48 on Wednesday. The company has a quick ratio of 0.69, a current ratio of 0.70 and a debt-to-equity ratio of 5.30. The business’s 50-day simple moving average is $29.14 and its 200 day simple moving average is $30.48. Warner Music Group Corp. has a twelve month low of $25.56 and a twelve month high of $34.63. The company has a market cap of $13.83 billion, a PE ratio of 45.66, a price-to-earnings-growth ratio of 0.45 and a beta of 1.24.

Warner Music Group (NASDAQ:WMG) last released its quarterly earnings data on Thursday, February 5th. The company reported $0.33 earnings per share for the quarter, missing analysts’ consensus estimates of $0.40 by ($0.07). The company had revenue of $1.84 billion for the quarter, compared to analyst estimates of $1.77 billion. Warner Music Group had a net margin of 4.43% and a return on equity of 38.33%. The firm’s revenue for the quarter was up 10.4% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.45 earnings per share. On average, research analysts anticipate that Warner Music Group Corp. will post 1.39 earnings per share for the current year.

Warner Music Group Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, March 3rd. Stockholders of record on Wednesday, February 18th were paid a dividend of $0.19 per share. This represents a $0.76 annualized dividend and a dividend yield of 2.9%. The ex-dividend date of this dividend was Wednesday, February 18th. Warner Music Group’s dividend payout ratio is 131.03%.

Analyst Ratings Changes

A number of research analysts have recently weighed in on the company. Jefferies Financial Group lowered their price target on Warner Music Group from $38.00 to $35.00 and set a “buy” rating on the stock in a report on Thursday, December 11th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Warner Music Group in a research note on Monday, December 29th. UBS Group set a $33.00 price objective on Warner Music Group in a report on Friday, November 21st. Zacks Research upgraded shares of Warner Music Group from a “strong sell” rating to a “hold” rating in a report on Tuesday, November 25th. Finally, Wolfe Research restated an “outperform” rating and set a $36.00 target price on shares of Warner Music Group in a report on Monday, December 15th. Twelve research analysts have rated the stock with a Buy rating and eight have given a Hold rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $35.69.

Warner Music Group Profile

Warner Music Group is a major global music company that operates across recorded music and music publishing. Its recorded-music business comprises a portfolio of well-known labels—including Atlantic, Warner Records and Parlophone—as well as distribution and artist-services operations that support both established and emerging artists. The company’s publishing arm, Warner Chappell Music, manages songwriting catalogs and administers rights for compositions across multiple media, providing licensing for film, television, advertising and other commercial uses.

WMG’s activities span the full music value chain: signing and developing artists, producing and marketing recordings, distributing music through physical channels and streaming platforms, and monetizing rights through licensing, synchronization and neighboring-rights collection.