Warner Music Group Corp. (NASDAQ:WMG) Shares Sold by Aureus Asset Management LLC

Aureus Asset Management LLC cut its holdings in shares of Warner Music Group Corp. (NASDAQ:WMG - Free Report) by 85.3% in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 24,719 shares of the company's stock after selling 143,770 shares during the quarter. Aureus Asset Management LLC's holdings in Warner Music Group were worth $774,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Tidal Investments LLC acquired a new stake in Warner Music Group in the first quarter valued at approximately $537,000. DekaBank Deutsche Girozentrale grew its stake in Warner Music Group by 40.6% in the 1st quarter. DekaBank Deutsche Girozentrale now owns 68,712 shares of the company's stock valued at $2,270,000 after acquiring an additional 19,832 shares during the period. Securian Asset Management Inc. purchased a new stake in Warner Music Group in the 2nd quarter worth $346,000. ORG Partners LLC raised its position in Warner Music Group by 5,790.5% during the second 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, Blue Trust Inc. acquired a new position in shares of Warner Music Group during the 2nd quarter worth about $302,000. 96.88% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Warner Music Group

In other Warner Music Group news, CEO Max Lousada sold 428,834 shares of the company's stock in a transaction that occurred on Tuesday, September 10th. The stock was sold at an average price of $28.00, for a total transaction of $12,007,352.00. Following the completion of the sale, the chief executive officer now directly owns 2,289,771 shares of the company's stock, valued at $64,113,588. This represents a 15.77 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Over the last ninety days, insiders have sold 628,205 shares of company stock worth $17,628,757. Insiders own 73.35% of the company's stock.

Warner Music Group Stock Performance

Shares of WMG stock traded down $0.35 during mid-day trading on Monday, hitting $32.17. 1,137,183 shares of the stock were exchanged, compared to its average volume of 1,809,743. The stock's fifty day simple moving average is $31.97 and its two-hundred day simple moving average is $30.62. The company has a debt-to-equity ratio of 5.95, a quick ratio of 0.65 and a current ratio of 0.68. Warner Music Group Corp. has a 12-month low of $27.06 and a 12-month high of $38.05. The stock has a market capitalization of $16.66 billion, a price-to-earnings ratio of 38.76, a P/E/G ratio of 0.70 and a beta of 1.35.

Warner Music Group Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 3rd. Stockholders of record on Tuesday, November 19th will be issued a $0.18 dividend. This represents a $0.72 annualized dividend and a dividend yield of 2.24%. The ex-dividend date is Tuesday, November 19th. Warner Music Group's payout ratio is currently 86.75%.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on the stock. Loop Capital lowered their target price on shares of Warner Music Group from $38.00 to $35.00 and set a "hold" rating on the stock in a research note on Monday, November 25th. Deutsche Bank Aktiengesellschaft reduced their target price on Warner Music Group from $42.00 to $36.00 and set a "buy" rating on the stock in a research report on Tuesday, August 13th. JPMorgan Chase & Co. decreased their target price on Warner Music Group from $41.00 to $40.00 and set an "overweight" rating on the stock in a research note on Friday, November 22nd. Wells Fargo & Company decreased their price objective on Warner Music Group from $37.00 to $34.00 and set an "equal weight" rating for the company in a research note on Thursday, August 8th. Finally, Evercore ISI decreased their price target on shares of Warner Music Group from $40.00 to $36.00 and set an "outperform" rating for the company in a research note on Thursday, August 8th. Two investment analysts have rated the stock with a sell rating, five have given a hold rating and eight have issued a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of "Hold" and a consensus 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.