Warner Music Group Corp. (NASDAQ:WMG) Shares Sold by Algert Global LLC

Algert Global LLC lowered its stake in shares of Warner Music Group Corp. (NASDAQ:WMG - Free Report) by 47.0% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 39,459 shares of the company's stock after selling 35,029 shares during the period. Algert Global LLC's holdings in Warner Music Group were worth $1,209,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also bought and sold shares of WMG. NEOS Investment Management LLC grew its position in shares of Warner Music Group by 5.0% in the 4th quarter. NEOS Investment Management LLC now owns 7,917 shares of the company's stock worth $283,000 after buying an additional 377 shares during the last quarter. Blair William & Co. IL grew its holdings in Warner Music Group by 0.3% in the first quarter. Blair William & Co. IL now owns 154,747 shares of the company's stock worth $5,110,000 after purchasing an additional 405 shares during the last quarter. Benjamin Edwards Inc. increased its position in shares of Warner Music Group by 74.5% during the second quarter. Benjamin Edwards Inc. now owns 953 shares of the company's stock worth $29,000 after purchasing an additional 407 shares in the last quarter. OmniStar Financial Group Inc. lifted its holdings in shares of Warner Music Group by 2.2% during the 2nd quarter. OmniStar Financial Group Inc. now owns 19,812 shares of the company's stock valued at $607,000 after purchasing an additional 420 shares during the last quarter. Finally, Sage Rhino Capital LLC boosted its position in shares of Warner Music Group by 2.8% in the 2nd quarter. Sage Rhino Capital LLC now owns 17,548 shares of the company's stock worth $538,000 after purchasing an additional 473 shares in the last quarter. Institutional investors own 96.88% of the company's stock.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on WMG shares. Tigress Financial reduced their target price on Warner Music Group from $52.00 to $44.00 and set a "buy" rating on the stock in a research report on Thursday, September 12th. Evercore ISI cut their price objective on shares of Warner Music Group from $40.00 to $36.00 and set an "outperform" rating on the stock in a report on Thursday, August 8th. Jefferies Financial Group initiated coverage on shares of Warner Music Group in a research note on Thursday, July 11th. They issued a "buy" rating and a $38.00 target price for the company. Bank of America restated an "underperform" rating and set a $30.00 price target (down previously from $33.00) on shares of Warner Music Group in a research note on Friday. Finally, Macquarie reiterated a "neutral" rating and set a $32.00 price objective on shares of Warner Music Group in a research note on Thursday, August 8th. Two investment analysts have rated the stock with a sell rating, three have assigned a hold rating and seven have given a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of "Hold" and an average target price of $36.33.

Insider Activity

In related news, CEO Max Lousada sold 64,047 shares of the stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $28.25, for a total transaction of $1,809,327.75. Following the sale, the chief executive officer now directly owns 2,909,422 shares of the company's stock, valued at approximately $82,191,171.50. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Insiders sold a total of 628,205 shares of company stock valued at $17,628,757 in the last three months. 73.35% of the stock is currently owned by corporate insiders.

Warner Music Group Stock Performance

NASDAQ WMG traded down $0.72 on Friday, reaching $31.14. 3,763,298 shares of the company's stock traded hands, compared to its average volume of 1,891,861. The stock has a 50 day moving average price of $29.28 and a 200-day moving average price of $30.95. The firm has a market cap of $16.13 billion, a price-to-earnings ratio of 31.14, a P/E/G ratio of 0.96 and a beta of 1.38. The company has a debt-to-equity ratio of 6.26, a quick ratio of 0.67 and a current ratio of 0.69. Warner Music Group Corp. has a fifty-two week low of $27.06 and a fifty-two week high of $38.05.

Warner Music Group (NASDAQ:WMG - Get Free Report) last issued its earnings results on Wednesday, August 7th. The company reported $0.27 EPS for the quarter, topping analysts' consensus estimates of $0.25 by $0.02. The firm had revenue of $1.55 billion for the quarter, compared to the consensus estimate of $1.58 billion. Warner Music Group had a return on equity of 101.32% and a net margin of 8.56%. Equities research analysts predict that Warner Music Group Corp. will post 1.04 EPS for the current fiscal year.

Warner Music Group Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, September 4th. Stockholders of record on Tuesday, August 27th were paid a dividend of $0.18 per share. This is a boost from Warner Music Group's previous quarterly dividend of $0.17. The ex-dividend date of this dividend was Tuesday, August 27th. This represents a $0.72 dividend on an annualized basis and a dividend yield of 2.31%. Warner Music Group's dividend payout ratio (DPR) is presently 72.00%.

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.