Warner Music Group (NASDAQ:WMG – Get Ratings) has received a “moderate buy” consensus recommendation from 14 analysts covering the stock, MarketBeat Ratings reports. One equity research analyst gave the company’s stock a sell rating, two issued hold ratings, and seven issued buy ratings. The average annual price target for brokers who published stock reports last year is $37.67.
WMG has been the subject of many research analyst reports. Morgan Stanley raised Warner Music Group’s price target from $31.00 to $38.00, giving the company an “Overweight” rating in its report on Friday, November 25. Deutsche Bank Aktiengesellschaft increased Warner Music Group’s target price from $30.00 to $37.00 in a report on Wednesday, November 23rd. Goldman Sachs Group began covering Warner Music Group in a report on Monday, October 10. They set a “buy” rating and a price target of $32.00 for the company. Credit Suisse Group lowered Warner Music Group’s price target from $43.00 to $36.00, setting the company’s rating to “Outperform” in a report on Wednesday, November 23rd. Finally, Bank of America upgraded Warner Music Group from a “poor performance” rating to a “neutral” rating and raised its price target from $23.00 to $33.00 in a report on Wednesday, November 23rd.
Insider trading at Warner Music Group
In other Warner Music Group news, Director Lincoln E. Bennett sold 20,000 shares of Warner Music Group stock in a transaction that occurred on Monday, November 28. The shares sold at an average price of $32.32 for a total trading value of $646,400.00. Following the sale, the directors now directly own 414,341 shares of the Company stock valued at $13,391,501.12. The transaction is disclosed in documents filed with the Securities and Exchange Commission and can be accessed on the SEC’s website. In other news, Director Lincoln E. Bennett sold 15,000 shares of Warner Music Group stock in a transaction that took place on Wednesday, November 30th. The shares sold for an average of $34.03 for a total of $510,450.00. Following the closing of the transaction, the directors now own 399,341 shares in the company, valued at $13,589,574.23. The transaction was disclosed in filings with the Securities and Exchange Commission that can be accessed via this hyperlink. Director Lincoln E. Bennett also sold 20,000 shares of Warner Music Group stock in a transaction that took place on Monday, November 28. The shares sold at an average price of $32.32 for a total transaction value of $646,400.00. Following the closing of the transaction, the directors now own 414,341 shares of the Company’s stock, valued at approximately $13,391,501.12. Please see here for the disclosure of this sale. Company insiders own 76.57% of the company’s shares.
institution inflow and outflow
Institutional investors are buying and selling stocks these days. US Bancorp DE increased its stake in Warner Music Group by 1.2% in the third quarter. US Bancorp DE now owns 35,109 shares of the company worth $815,000 after acquiring an additional 424 shares during this period. Advisor Group Holdings Inc. increased its stake in Warner Music Group by 5.7% in the first quarter. Advisor Group Holdings Inc. now owns 7,950 shares worth $647,000 after acquiring an additional 427 shares during this period. Stephens Inc. AR increased its stake in Warner Music Group by 6.3% in the second quarter. Stephens Inc. AR now owns 7,330 shares worth $179,000 after acquiring an additional 437 shares during this period. Oppenheimer Asset Management Inc. increased its stake in Warner Music Group by 5.2% in the second quarter. Oppenheimer Asset Management Inc. now owns 9,490 shares worth $231,000 after acquiring an additional 466 shares during this period. Finally, Neuberger Berman Group LLC increased its stake in Warner Music Group by 0.3% in the third quarter. Neuberger Berman Group LLC now owns 178,664 shares worth $4,147,000 after acquiring an additional 579 shares during this period. Institutional investors own 22.44% of the company’s shares.
Warner Music Group Stock Performance
WMG opened Friday at $33.42. The company has a market capitalization of $17.21 billion, a PE ratio of 31.53, a P/E/G ratio of 3.40 and a beta of 1.68. The company has a quick ratio of 0.60, a current ratio of 0.64 and a debt to equity ratio of 22.21. The business has a 50-day simple moving average of $28.43 and a 200-day simple moving average of $27.62. Warner Music Group hit a 52-week low of $21.57 and a 52-week high of $44.64.
Warner Music Group Announces Dividend
The company recently announced a quarterly dividend, which was paid out on Thursday, December 1st. Investors of record on Tuesday, November 22 were awarded a dividend of $0.16 per share. This represents a dividend of $0.64 and a yield of 1.92% on an annual basis. The ex-dividend date for this dividend was Monday, November 21. Warner Music Group’s Dividend Payout Ratio (DPR) currently stands at 60.38%.
Warner Music Group company profile
Warner Music Group Corp. operates as a music entertainment company in the United States, United Kingdom, Germany and internationally. The Company operates through its Recorded Music and Music Publishing segments. The Recorded Music segment is involved in the discovery and development of Recording Artists and the related marketing, promotion, distribution, sale and licensing of music created by such Recording Artists. It markets its music catalog through previously released music and video titles, as well as compilations and reissues of previously unreleased material. It operates primarily through record labels such as Warner Records, Atlantic Records, Asylum, Big Beat, Canvasback, East-West, Erato, FFRR, Fueled by Ramen, Nonsuch, Parlophone, Reprise, Roadrunner and Sire. are doing , Spinnin’ Records, Warner Classics, Warner Music Nashville.
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