Warner Music Group Corp. (NASDAQ:WMG) Stock Position Lifted by Ardmore Road Asset Management LP

Ardmore Road Asset Management LP increased its position in shares of Warner Music Group Corp. (NASDAQ:WMG) by 100.0% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 600,000 shares of the company’s stock after purchasing an additional 300,000 shares during the period. Warner Music Group accounts for about 2.7% of Ardmore Road Asset Management LP’s investment portfolio, making the stock its 14th largest holding. Ardmore Road Asset Management LP owned 0.12% of Warner Music Group worth $18,600,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of the company. SBI Securities Co. Ltd. bought a new position in shares of Warner Music Group during the 4th quarter valued at $35,000. GAMMA Investing LLC lifted its position in shares of Warner Music Group by 379.5% in the 4th quarter. GAMMA Investing LLC now owns 1,774 shares of the company’s stock worth $55,000 after acquiring an additional 1,404 shares during the period. Rosenberg Matthew Hamilton boosted its stake in Warner Music Group by 14.0% during the fourth quarter. Rosenberg Matthew Hamilton now owns 3,705 shares of the company’s stock worth $115,000 after buying an additional 455 shares in the last quarter. Fifth Third Bancorp boosted its position in shares of Warner Music Group by 13.1% during the 4th quarter. Fifth Third Bancorp now owns 3,967 shares of the company’s stock valued at $123,000 after acquiring an additional 458 shares in the last quarter. Finally, Corient Private Wealth LLC bought a new stake in shares of Warner Music Group in the 4th quarter valued at approximately $218,000. Institutional investors and hedge funds own 96.88% of the company’s stock.

Insider Activity at Warner Music Group

In other Warner Music Group news, Director Valentin Blavatnik sold 28,230 shares of the firm’s stock in a transaction dated Thursday, February 20th. The shares were sold at an average price of $35.45, for a total transaction of $1,000,753.50. Following the transaction, the director now owns 68,264 shares of the company’s stock, valued at approximately $2,419,958.80. This trade represents a 29.26 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Timothy Matusch sold 1,103 shares of the firm’s stock in a transaction that occurred on Friday, February 14th. The shares were sold at an average price of $36.49, for a total transaction of $40,248.47. Following the completion of the sale, 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 ownership of the stock. The disclosure for this sale can be found here. 72.21% of the stock is owned by insiders.

Warner Music Group Price Performance

WMG stock opened at $31.32 on Wednesday. The company has a debt-to-equity ratio of 5.67, a current ratio of 0.69 and a quick ratio of 0.67. Warner Music Group Corp. has a 1 year low of $27.06 and a 1 year high of $36.64. The company has a market cap of $16.30 billion, a P/E ratio of 31.96, a PEG ratio of 1.03 and a beta of 1.33. The firm has a 50-day moving average of $33.09 and a 200 day moving average of $32.08.

Warner Music Group (NASDAQ:WMG) last announced its quarterly 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%. On average, sell-side analysts forecast that Warner Music Group Corp. will post 1.39 EPS for the current year.

Warner Music Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, March 4th. Stockholders of record on Monday, February 24th were issued a dividend of $0.18 per share. The ex-dividend date of this dividend was Monday, February 24th. This represents a $0.72 annualized dividend and a dividend yield of 2.30%. Warner Music Group’s dividend payout ratio (DPR) is 73.47%.

Analyst Ratings Changes

WMG has been the subject of several research reports. 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. Guggenheim restated a “buy” rating and set a $40.00 target price on shares of Warner Music Group in a report on Friday, February 7th. FBN Securities began coverage on Warner Music Group in a report on Friday, March 28th. They set a “sector perform” rating and a $35.00 price objective for the company. Morgan Stanley reduced their price objective on shares of 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. Finally, Evercore ISI decreased their target price on shares of Warner Music Group from $36.00 to $35.00 and set an “outperform” rating for the company in a research note on Thursday, January 9th. Two equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and ten have issued a buy rating to the stock. Based on data from MarketBeat, Warner Music Group currently has an average rating of “Hold” and an average target price of $35.76.

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.