Hsbc Holdings PLC Purchases 18,637 Shares of Warner Music Group Corp. $WMG

Hsbc Holdings PLC increased its holdings in shares of Warner Music Group Corp. (NASDAQ:WMG) by 42.8% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 62,225 shares of the company’s stock after purchasing an additional 18,637 shares during the period. Hsbc Holdings PLC’s holdings in Warner Music Group were worth $1,574,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. Quarry LP bought a new stake in shares of Warner Music Group in the 4th quarter valued at approximately $40,000. Caitong International Asset Management Co. Ltd lifted its stake in Warner Music Group by 774.6% during the third quarter. Caitong International Asset Management Co. Ltd now owns 1,207 shares of the company’s stock worth $41,000 after purchasing an additional 1,069 shares during the last quarter. Osaic Holdings Inc. boosted its position in Warner Music Group by 480.9% during the 2nd quarter. Osaic Holdings Inc. now owns 1,493 shares of the company’s stock valued at $41,000 after purchasing an additional 1,236 shares during the period. Parallel Advisors LLC increased its position in Warner Music Group by 355.7% in the 4th quarter. Parallel Advisors LLC now owns 1,531 shares of the company’s stock valued at $47,000 after acquiring an additional 1,195 shares during the period. Finally, Quadrant Capital Group LLC lifted its stake in shares of Warner Music Group by 740.0% in the 4th quarter. Quadrant Capital Group LLC now owns 1,890 shares of the company’s stock worth $58,000 after acquiring an additional 1,665 shares during the period. Institutional investors own 96.88% of the company’s stock.

Warner Music Group Stock Performance

Shares of Warner Music Group stock opened at $27.61 on Tuesday. Warner Music Group Corp. has a 12 month low of $23.34 and a 12 month high of $35.42. The company has a quick ratio of 0.71, a current ratio of 0.73 and a debt-to-equity ratio of 5.62. The stock has a market cap of $14.40 billion, a PE ratio of 32.48, a price-to-earnings-growth ratio of 0.39 and a beta of 1.30. The business has a fifty day simple moving average of $29.28 and a 200-day simple moving average of $28.93.

Warner Music Group (NASDAQ:WMG) last announced its quarterly earnings data on Thursday, May 7th. The company reported $0.44 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.30 by $0.14. Warner Music Group had a return on equity of 62.01% and a net margin of 6.34%.The firm had revenue of $1.73 billion during the quarter, compared to the consensus estimate of $1.61 billion. During the same period in the prior year, the business earned $0.07 EPS. The business’s revenue for the quarter was up 16.7% on a year-over-year basis. On average, sell-side analysts anticipate that Warner Music Group Corp. will post 1.52 EPS for the current fiscal year.

Warner Music Group Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, June 2nd. Shareholders of record on Tuesday, May 26th were given a $0.19 dividend. The ex-dividend date was Tuesday, May 26th. This represents a $0.76 dividend on an annualized basis and a yield of 2.8%. Warner Music Group’s dividend payout ratio is presently 89.41%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on WMG shares. Morgan Stanley set a $39.00 target price on Warner Music Group in a research report on Friday, May 8th. Sanford C. Bernstein restated an “outperform” rating on shares of Warner Music Group in a report on Friday, May 8th. Guggenheim raised their target price on Warner Music Group from $34.00 to $36.00 and gave the company a “buy” rating in a research note on Friday, May 8th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Warner Music Group in a report on Wednesday, June 24th. Finally, JPMorgan Chase & Co. boosted their price target on shares of Warner Music Group from $40.00 to $43.00 and gave the stock an “overweight” rating in a research report on Friday, May 8th. Fourteen equities research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. According to data from MarketBeat.com, Warner Music Group currently has a consensus rating of “Moderate Buy” and an average price target of $38.43.

Warner Music Group Company 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.