9,719 Shares in Warner Music Group Corp. (NASDAQ:WMG) Acquired by EP Wealth Advisors LLC

EP Wealth Advisors LLC bought a new stake in Warner Music Group Corp. (NASDAQ:WMG) during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm bought 9,719 shares of the company’s stock, valued at approximately $304,000.

Several other hedge funds have also recently added to or reduced their stakes in the business. Concord Wealth Partners acquired a new position in shares of Warner Music Group during the third quarter valued at $30,000. Benjamin Edwards Inc. increased its stake in Warner Music Group by 74.5% during the 2nd quarter. Benjamin Edwards Inc. now owns 953 shares of the company’s stock valued at $29,000 after buying an additional 407 shares during the period. Assetmark Inc. raised its position in shares of Warner Music Group by 9,400.0% during the 3rd quarter. Assetmark Inc. now owns 1,235 shares of the company’s stock worth $39,000 after buying an additional 1,222 shares in the last quarter. ORG Partners LLC lifted its stake in shares of Warner Music Group by 5,790.5% in the 2nd quarter. ORG Partners LLC now owns 1,237 shares of the company’s stock worth $37,000 after acquiring an additional 1,216 shares during the period. Finally, ORG Wealth Partners LLC bought a new position in shares of Warner Music Group in the third quarter valued at approximately $73,000. Institutional investors own 96.88% of the company’s stock.

Warner Music Group Price Performance

Shares of NASDAQ:WMG opened at $32.52 on Friday. The company’s fifty day moving average is $32.17 and its two-hundred day moving average is $30.69. The company has a market cap of $16.85 billion, a P/E ratio of 39.18, a price-to-earnings-growth ratio of 0.71 and a beta of 1.35. Warner Music Group Corp. has a 12-month low of $27.06 and a 12-month high of $38.05. The company has a quick ratio of 0.65, a current ratio of 0.68 and a debt-to-equity ratio of 5.95.

Warner Music Group (NASDAQ:WMG) last posted its quarterly earnings results on Thursday, November 21st. The company reported $0.08 earnings per share for the quarter, missing the consensus estimate of $0.28 by ($0.20). Warner Music Group had a net margin of 6.77% and a return on equity of 69.29%. The business had revenue of $1.63 billion for the quarter, compared to analyst estimates of $1.59 billion. During the same period in the previous year, the firm posted $0.34 earnings per share. The firm’s quarterly revenue was up 2.8% on a year-over-year basis. Equities analysts expect that Warner Music Group Corp. will post 1.34 earnings per share for the current fiscal year.

Warner Music Group Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, December 3rd. Investors of record on Tuesday, November 19th were given a dividend of $0.18 per share. This represents a $0.72 dividend on an annualized basis and a yield of 2.21%. The ex-dividend date of this dividend was Tuesday, November 19th. Warner Music Group’s payout ratio is presently 86.75%.

Analyst Upgrades and Downgrades

WMG has been the topic of several recent analyst reports. Barclays dropped their target price on Warner Music Group from $32.00 to $31.00 and set an “equal weight” rating on the stock in a report on Friday, November 22nd. Macquarie restated a “neutral” rating and issued a $30.00 price objective on shares of Warner Music Group in a report on Friday, November 22nd. Citigroup lifted their target price on Warner Music Group from $31.00 to $34.00 and gave the stock a “neutral” rating in a report on Friday, November 29th. JPMorgan Chase & Co. dropped their price target on shares of Warner Music Group from $41.00 to $40.00 and set an “overweight” rating on the stock in a research report on Friday, November 22nd. Finally, Loop Capital reduced their price objective on shares of Warner Music Group from $38.00 to $35.00 and set a “hold” rating for the company in a research report on Monday, November 25th. Two investment analysts have rated the stock with a sell rating, five have issued a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $35.67.

About Warner Music Group

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.