Warner Music Group (NASDAQ:WMG) Price Target Cut to $36.00 by Analysts at Deutsche Bank Aktiengesellschaft

Warner Music Group (NASDAQ:WMG - Free Report) had its price objective trimmed by Deutsche Bank Aktiengesellschaft from $42.00 to $36.00 in a report issued on Tuesday, Benzinga reports. The brokerage currently has a buy rating on the stock.

Other research analysts have also issued research reports about the stock. Wolfe Research started coverage on shares of Warner Music Group in a research note on Friday, July 12th. They issued an outperform rating and a $37.00 price target on the stock. Macquarie reaffirmed a neutral rating and issued a $32.00 price objective on shares of Warner Music Group in a report on Thursday, August 8th. Morgan Stanley initiated coverage on Warner Music Group in a research note on Monday, May 6th. They set an overweight rating and a $43.00 target price for the company. Loop Capital raised their price target on shares of Warner Music Group from $36.00 to $38.00 and gave the company a hold rating in a research note on Thursday, April 18th. Finally, Redburn Atlantic reiterated a sell rating and issued a $23.00 target price (up from $21.00) on shares of Warner Music Group in a research report on Wednesday, July 10th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and ten have issued a buy rating to the company. Based on data from MarketBeat.com, Warner Music Group currently has an average rating of Moderate Buy and a consensus target price of $37.19.

Warner Music Group Trading Up 1.5 %

Shares of WMG stock traded up $0.40 on Tuesday, reaching $27.91. The company had a trading volume of 1,389,219 shares, compared to its average volume of 1,977,987. The company has a 50-day moving average of $30.20 and a 200-day moving average of $32.44. The company has a current ratio of 0.69, a quick ratio of 0.67 and a debt-to-equity ratio of 6.26. The stock has a market cap of $14.45 billion, a PE ratio of 27.91, a PEG ratio of 1.78 and a beta of 1.38. Warner Music Group has a 12 month low of $27.06 and a 12 month high of $38.05.

Institutional Investors Weigh In On Warner Music Group

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Benjamin Edwards Inc. lifted its holdings in shares of 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 purchasing an additional 407 shares during the last quarter. ORG Partners LLC boosted its holdings in 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 buying an additional 1,216 shares during the last quarter. Mather Group LLC. purchased a new position in Warner Music Group in the 1st quarter worth approximately $45,000. SRS Capital Advisors Inc. purchased a new position in Warner Music Group in the 4th quarter worth approximately $46,000. Finally, Fifth Third Bancorp lifted its stake in Warner Music Group by 94.8% in the 1st quarter. Fifth Third Bancorp now owns 2,088 shares of the company's stock worth $69,000 after purchasing an additional 1,016 shares in the last quarter. 96.88% of the stock is currently owned by hedge funds and other institutional investors.

Warner Music Group Company 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.