Warner Music Group Corp. (NASDAQ:WMG - Get Free Report) EVP Timothy Matusch sold 1,000 shares of the stock in a transaction dated Wednesday, April 2nd. The shares were sold at an average price of $31.43, for a total value of $31,430.00. Following the completion of the transaction, the executive vice president now owns 87,649 shares of the company's stock, valued at $2,754,808.07. This represents a 1.13 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link.
Timothy Matusch also recently made the following trade(s):
- On Friday, February 14th, Timothy Matusch sold 1,103 shares of Warner Music Group stock. The shares were sold at an average price of $36.49, for a total transaction of $40,248.47.
Warner Music Group Stock Down 4.7 %
Warner Music Group stock opened at $29.48 on Friday. The company has a quick ratio of 0.67, a current ratio of 0.69 and a debt-to-equity ratio of 5.67. The company has a market capitalization of $15.34 billion, a PE ratio of 30.08, a PEG ratio of 1.03 and a beta of 1.32. The firm's fifty day moving average is $33.12 and its 200 day moving average is $32.06. 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 - Get Free Report) last released its quarterly earnings data on Thursday, February 6th. The company reported $0.45 earnings per share (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%. As a group, sell-side analysts predict that Warner Music Group Corp. will post 1.39 EPS for the current fiscal 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 was Monday, February 24th. This represents a $0.72 annualized dividend and a dividend yield of 2.44%. Warner Music Group's dividend payout ratio is 73.47%.
Wall Street Analysts Forecast Growth
Several equities analysts have issued reports on WMG shares. Macquarie restated a "neutral" rating and issued a $30.00 price target on shares of Warner Music Group in a research report on Thursday, January 30th. Morgan Stanley decreased their price objective on Warner Music Group from $38.00 to $37.00 and set an "overweight" rating for the company in a report on Monday, January 13th. Evercore ISI cut their target price on Warner Music Group from $36.00 to $35.00 and set an "outperform" rating on the stock in a report on Thursday, January 9th. FBN Securities began coverage on Warner Music Group in a research note on Friday, March 28th. They issued a "sector perform" rating and a $35.00 price target for the company. Finally, Guggenheim reaffirmed a "buy" rating and issued a $40.00 price objective on shares of Warner Music Group in a research note on Friday, February 7th. Two investment analysts have rated the stock with a sell rating, five have given a hold rating and ten have given a buy rating to the company's stock. According to MarketBeat, the company has an average rating of "Hold" and an average price target of $35.76.
Get Our Latest Stock Report on WMG
Hedge Funds Weigh In On Warner Music Group
A number of institutional investors have recently modified their holdings of the company. Itau Unibanco Holding S.A. increased its stake in Warner Music Group by 122.6% during the 4th quarter. Itau Unibanco Holding S.A. now owns 1,064 shares of the company's stock valued at $33,000 after purchasing an additional 586 shares in the last quarter. SBI Securities Co. Ltd. bought a new stake in shares of Warner Music Group during the fourth quarter worth about $35,000. Aster Capital Management DIFC Ltd acquired a new stake in shares of Warner Music Group in the 4th quarter worth about $43,000. State of Wyoming bought a new position in Warner Music Group in the 4th quarter valued at about $47,000. Finally, GAMMA Investing LLC boosted its stake in Warner Music Group by 379.5% during the 4th 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 during the last quarter. 96.88% of the stock is owned by institutional investors and hedge funds.
Warner Music Group Company Profile
(
Get Free Report)
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.
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