Jackson Square Partners LLC Has $19.67 Million Stock Holdings in Warner Music Group Corp. (NASDAQ:WMG)

Jackson Square Partners LLC decreased its position in Warner Music Group Corp. (NASDAQ:WMG - Free Report) by 16.7% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 634,446 shares of the company's stock after selling 127,309 shares during the period. Warner Music Group makes up approximately 2.1% of Jackson Square Partners LLC's holdings, making the stock its 24th biggest position. Jackson Square Partners LLC owned 0.12% of Warner Music Group worth $19,668,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. LPL Financial LLC raised its position in shares of Warner Music Group by 10.7% during the 4th quarter. LPL Financial LLC now owns 18,142 shares of the company's stock worth $562,000 after buying an additional 1,756 shares in the last quarter. Quantbot Technologies LP lifted its position in Warner Music Group by 17.2% in the fourth quarter. Quantbot Technologies LP now owns 51,945 shares of the company's stock worth $1,610,000 after purchasing an additional 7,608 shares during the period. Blueshift Asset Management LLC bought a new position in Warner Music Group during the 4th quarter valued at $321,000. Corient Private Wealth LLC acquired a new position in shares of Warner Music Group during the 4th quarter valued at $218,000. Finally, Wealthfront Advisers LLC bought a new stake in shares of Warner Music Group during the 4th quarter worth $870,000. Institutional investors own 96.88% of the company's stock.

Warner Music Group Stock Down 2.2 %

NASDAQ:WMG traded down $0.70 during mid-day trading on Friday, reaching $31.56. The stock had a trading volume of 1,499,738 shares, compared to its average volume of 1,968,590. The stock has a market cap of $16.42 billion, a P/E ratio of 32.20, a PEG ratio of 1.03 and a beta of 1.33. The business's 50 day moving average is $33.04 and its 200 day moving average is $32.02. The company has a debt-to-equity ratio of 5.67, a current ratio of 0.69 and a quick ratio of 0.67. Warner Music Group Corp. has a fifty-two week low of $27.06 and a fifty-two week high of $36.64.

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

Warner Music Group Dividend Announcement

The business 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. This represents a $0.72 dividend on an annualized basis and a dividend yield of 2.28%. The ex-dividend date was Monday, February 24th. Warner Music Group's dividend payout ratio is 73.47%.

Insider Activity at Warner Music Group

In related news, Director Valentin Blavatnik sold 28,230 shares of the business's stock in a transaction dated Thursday, February 20th. The stock was sold at an average price of $35.45, for a total transaction of $1,000,753.50. Following the completion of the transaction, the director now owns 68,264 shares of the company's stock, valued at approximately $2,419,958.80. The trade was a 29.26 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Timothy Matusch sold 1,103 shares of the stock in a transaction on Friday, February 14th. The shares were sold at an average price of $36.49, for a total transaction of $40,248.47. Following the completion of the sale, the executive vice president now directly owns 88,649 shares of the company's stock, valued at approximately $3,234,802.01. This trade represents a 1.23 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 72.21% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on the company. Evercore ISI decreased their price target on Warner Music Group from $36.00 to $35.00 and set an "outperform" rating for the company in a research report on Thursday, January 9th. Morgan Stanley decreased their target price on shares of Warner Music Group from $38.00 to $37.00 and set an "overweight" rating for the company in a report on Monday, January 13th. Macquarie restated a "neutral" rating and set a $30.00 price target on shares of Warner Music Group in a report on Thursday, January 30th. Citigroup raised shares of Warner Music Group from a "neutral" rating to a "buy" rating and raised their price objective for the stock from $34.00 to $42.00 in a research note on Friday, February 14th. Finally, UBS Group cut their target price on shares of Warner Music Group from $43.00 to $41.00 and set a "buy" rating on the stock in a research note on Friday, January 10th. Two equities research analysts have rated the stock with a sell rating, five have issued a hold rating and ten have assigned a buy rating to the stock. According to MarketBeat.com, Warner Music Group has an average rating of "Hold" and a consensus target price of $35.76.

Warner Music Group Profile

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.