Warner Music Group Corp. (NASDAQ:WMG) is D1 Capital Partners L.P.'s 10th Largest Position

D1 Capital Partners L.P. boosted its position in shares of Warner Music Group Corp. (NASDAQ:WMG - Free Report) by 91.5% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 5,264,498 shares of the company's stock after buying an additional 2,514,715 shares during the period. Warner Music Group makes up about 3.2% of D1 Capital Partners L.P.'s portfolio, making the stock its 10th biggest holding. D1 Capital Partners L.P. owned about 1.02% of Warner Music Group worth $164,779,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Mawer Investment Management Ltd. raised its position in Warner Music Group by 2,699.4% during the third quarter. Mawer Investment Management Ltd. now owns 8,217,467 shares of the company's stock valued at $257,207,000 after purchasing an additional 7,923,926 shares during the period. Independent Franchise Partners LLP purchased a new stake in shares of Warner Music Group in the second quarter worth approximately $160,156,000. Darlington Partners Capital Management LP raised its holdings in shares of Warner Music Group by 47.4% in the second quarter. Darlington Partners Capital Management LP now owns 8,072,372 shares of the company's stock worth $247,418,000 after buying an additional 2,594,994 shares during the period. Cooke & Bieler LP grew its stake in Warner Music Group by 19.6% in the second quarter. Cooke & Bieler LP now owns 5,061,093 shares of the company's stock worth $155,122,000 after purchasing an additional 831,114 shares in the last quarter. Finally, Linonia Partnership LP bought a new position in Warner Music Group in the second quarter worth approximately $21,132,000. 96.88% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several research analysts recently issued reports on the company. Evercore ISI dropped their price objective on Warner Music Group from $40.00 to $36.00 and set an "outperform" rating on the stock in a research note on Thursday, August 8th. Guggenheim reissued a "buy" rating and issued a $44.00 price objective on shares of Warner Music Group in a research note on Friday, November 22nd. Citigroup increased their target price on Warner Music Group from $31.00 to $34.00 and gave the company a "neutral" rating in a research report on Friday. Deutsche Bank Aktiengesellschaft dropped 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. Finally, Barclays dropped their target price on Warner Music Group from $32.00 to $31.00 and set an "equal weight" rating on the stock in a research report on Friday, November 22nd. Two research analysts have rated the stock with a sell rating, five have issued a hold rating and eight have given a buy rating to the stock. According to MarketBeat, Warner Music Group has a consensus rating of "Hold" and an average target price of $35.67.

Insider Buying and Selling

In other Warner Music Group news, CEO Max Lousada sold 428,834 shares of Warner Music Group stock in a transaction dated 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 transaction, the chief executive officer now owns 2,289,771 shares in the company, valued at approximately $64,113,588. This trade represents a 15.77 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Insiders sold 628,205 shares of company stock worth $17,628,757 in the last 90 days. Insiders own 73.35% of the company's stock.

Warner Music Group Stock Performance

WMG stock traded up $0.42 during midday trading on Friday, reaching $32.52. The stock had a trading volume of 729,242 shares, compared to its average volume of 1,814,906. The stock has a market cap of $16.85 billion, a PE ratio of 38.75, a P/E/G ratio of 0.70 and a beta of 1.37. The company has a debt-to-equity ratio of 5.95, a quick ratio of 0.65 and a current ratio of 0.68. The firm has a fifty day simple moving average of $31.93 and a two-hundred day simple moving average of $30.64. Warner Music Group Corp. has a 52-week low of $27.06 and a 52-week high of $38.05.

Warner Music Group Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 3rd. Investors of record on Tuesday, November 19th will be paid a $0.18 dividend. The ex-dividend date of this dividend is Tuesday, November 19th. This represents a $0.72 dividend on an annualized basis and a yield of 2.21%. Warner Music Group's dividend payout ratio (DPR) is 86.75%.

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.