Broyhill Asset Management Makes New $2.60 Million Investment in Warner Music Group Corp. (NASDAQ:WMG)

Broyhill Asset Management bought a new position in shares of Warner Music Group Corp. (NASDAQ:WMG - Free Report) during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 83,909 shares of the company's stock, valued at approximately $2,601,000. Warner Music Group makes up 2.3% of Broyhill Asset Management's holdings, making the stock its 17th biggest holding.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in WMG. Patriot Financial Group Insurance Agency LLC increased its stake in shares of Warner Music Group by 3.4% in the 4th quarter. Patriot Financial Group Insurance Agency LLC now owns 12,269 shares of the company's stock valued at $380,000 after acquiring an additional 408 shares during the last quarter. Keystone Financial Services raised its holdings in Warner Music Group by 4.4% in the fourth quarter. Keystone Financial Services now owns 10,336 shares of the company's stock worth $320,000 after purchasing an additional 432 shares during the period. Rosenberg Matthew Hamilton grew its holdings in shares of Warner Music Group by 14.0% in the 4th quarter. Rosenberg Matthew Hamilton now owns 3,705 shares of the company's stock valued at $115,000 after buying an additional 455 shares during the period. Fifth Third Bancorp increased its position in shares of Warner Music Group by 13.1% in the 4th quarter. Fifth Third Bancorp now owns 3,967 shares of the company's stock valued at $123,000 after buying an additional 458 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC raised its stake in Warner Music Group by 1.0% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 77,058 shares of the company's stock worth $2,389,000 after buying an additional 792 shares during the period. 96.88% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

WMG has been the subject of a number of research analyst reports. Morgan Stanley reduced their price target 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. FBN Securities initiated coverage on shares of Warner Music Group in a report on Friday, March 28th. They set a "sector perform" rating and a $35.00 price target for the company. Macquarie restated a "neutral" rating and set a $30.00 price objective on shares of Warner Music Group in a research report on Thursday, January 30th. Citigroup raised Warner Music Group from a "neutral" rating to a "buy" rating and boosted their price target for the stock from $34.00 to $42.00 in a report on Friday, February 14th. Finally, UBS Group decreased their target price on Warner Music Group from $43.00 to $41.00 and set a "buy" rating on the stock in a research report on Friday, January 10th. Two research analysts have rated the stock with a sell rating, five have given a hold rating and ten have issued a buy rating to the company's stock. According to data from MarketBeat.com, the company presently has an average rating of "Hold" and an average target price of $35.76.

Warner Music Group Trading Up 1.9 %

Shares of NASDAQ:WMG traded up $0.53 during midday trading on Friday, reaching $29.12. The company's stock had a trading volume of 786,270 shares, compared to its average volume of 1,957,385. Warner Music Group Corp. has a fifty-two week low of $27.06 and a fifty-two week high of $36.64. The company has a debt-to-equity ratio of 5.67, a quick ratio of 0.67 and a current ratio of 0.69. The firm has a 50 day moving average price of $32.35 and a two-hundred day moving average price of $31.90. The firm has a market capitalization of $15.15 billion, a price-to-earnings ratio of 29.71, a PEG ratio of 1.03 and a beta of 1.32.

Warner Music Group (NASDAQ:WMG - Get Free Report) last released its earnings results on Thursday, February 6th. The company reported $0.45 earnings per share (EPS) for the quarter, beating 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, analysts forecast that Warner Music Group Corp. will post 1.39 earnings per share for the current year.

Warner Music Group Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, March 4th. Shareholders of record on Monday, February 24th were issued a $0.18 dividend. The ex-dividend date was Monday, February 24th. This represents a $0.72 annualized dividend and a yield of 2.47%. Warner Music Group's payout ratio is currently 73.47%.

Insider Buying and Selling at Warner Music Group

In other news, Director Valentin Blavatnik sold 28,230 shares of the firm's stock in a transaction that occurred on Thursday, February 20th. The stock was sold at an average price of $35.45, for a total value of $1,000,753.50. Following the transaction, the director now owns 68,264 shares in the company, valued at $2,419,958.80. This trade represents a 29.26 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Timothy Matusch sold 1,000 shares of the company's stock in a transaction on Wednesday, April 2nd. The stock was sold at an average price of $31.43, for a total value of $31,430.00. Following the sale, the executive vice president now owns 87,649 shares of the company's stock, valued at $2,754,808.07. This trade represents a 1.13 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 30,333 shares of company stock valued at $1,072,432. Company insiders own 72.21% of the company's stock.

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.