Wealthfront Advisers LLC Makes New Investment in Warner Music Group Corp. (NASDAQ:WMG)

Wealthfront Advisers LLC acquired a new position in shares of Warner Music Group Corp. (NASDAQ:WMG - Free Report) in the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor acquired 28,067 shares of the company's stock, valued at approximately $870,000.

Several other institutional investors and hedge funds also recently modified their holdings of the business. Raymond James Financial Inc. bought a new position in shares of Warner Music Group in the fourth quarter worth $10,881,000. Assetmark Inc. boosted its stake in Warner Music Group by 7,659.8% during the fourth quarter. Assetmark Inc. now owns 95,833 shares of the company's stock valued at $2,971,000 after buying an additional 94,598 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its stake in Warner Music Group by 5.4% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 953,549 shares of the company's stock valued at $29,560,000 after buying an additional 48,772 shares in the last quarter. SBI Securities Co. Ltd. bought a new position in Warner Music Group during the fourth quarter valued at about $35,000. Finally, Hahn Capital Management LLC boosted its stake in Warner Music Group by 31.3% during the fourth quarter. Hahn Capital Management LLC now owns 255,101 shares of the company's stock valued at $7,908,000 after buying an additional 60,882 shares in the last quarter. Institutional investors own 96.88% of the company's stock.

Warner Music Group Stock Performance

Shares of NASDAQ:WMG traded up $0.04 during trading on Wednesday, hitting $32.74. 2,479,316 shares of the stock were exchanged, compared to its average volume of 1,862,219. Warner Music Group Corp. has a 1-year low of $27.06 and a 1-year high of $36.64. The company has a market capitalization of $17.04 billion, a price-to-earnings ratio of 33.41, a price-to-earnings-growth ratio of 1.03 and a beta of 1.33. The company's fifty day simple moving average is $32.60 and its 200-day simple moving average is $31.80. The company has a debt-to-equity ratio of 5.67, a quick ratio of 0.67 and a current ratio of 0.69.

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Warner Music Group (NASDAQ:WMG - Get Free Report) last announced its quarterly earnings data on Thursday, February 6th. The company reported $0.45 earnings per share for the quarter, topping the consensus estimate of $0.34 by $0.11. Warner Music Group had a return on equity of 79.01% and a net margin of 8.07%. Sell-side analysts expect that Warner Music Group Corp. will post 1.39 EPS for the current fiscal year.

Warner Music Group Dividend Announcement

The company 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 annualized dividend and a dividend yield of 2.20%. The ex-dividend date was Monday, February 24th. Warner Music Group's payout ratio is presently 73.47%.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on WMG. Citigroup upgraded Warner Music Group from a "neutral" rating to a "buy" rating and increased their price target for the company from $34.00 to $42.00 in a research report on Friday, February 14th. 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. Guggenheim restated a "buy" rating and set a $40.00 price objective on shares of Warner Music Group in a research report on Friday, February 7th. Morgan Stanley decreased their price objective on Warner Music Group from $38.00 to $37.00 and set an "overweight" rating for the company in a research report on Monday, January 13th. Finally, Evercore ISI decreased their price objective 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. Two analysts have rated the stock with a sell rating, four have issued a hold rating and ten have issued a buy rating to the company's stock. According to data from MarketBeat, Warner Music Group presently has an average rating of "Moderate Buy" and an average target price of $35.81.

Insider Activity at Warner Music Group

In related news, Director Valentin Blavatnik sold 28,230 shares of the business's stock in a transaction 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 sale, the director now owns 68,264 shares of the company's stock, valued at $2,419,958.80. The trade was a 29.26 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Lincoln E. Benet sold 35,000 shares of the business's stock in a transaction on Friday, December 20th. The stock was sold at an average price of $30.96, for a total value of $1,083,600.00. Following the completion of the transaction, the director now directly owns 242,360 shares in the company, valued at approximately $7,503,465.60. This represents a 12.62 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 64,333 shares of company stock valued at $2,124,602 in the last 90 days. 72.21% of the stock is owned by corporate insiders.

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.