Westfuller Advisors LLC Makes New $559,000 Investment in Warner Music Group Corp. (NASDAQ:WMG)

Westfuller Advisors LLC purchased a new stake in Warner Music Group Corp. (NASDAQ:WMG - Free Report) in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 17,871 shares of the company's stock, valued at approximately $559,000.

Several other hedge funds also recently modified their holdings of the company. Concord Wealth Partners acquired a new position in shares of Warner Music Group in the 3rd quarter valued at about $30,000. Benjamin Edwards Inc. increased its position 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. Assetmark Inc. lifted its stake in Warner Music Group by 9,400.0% in the third quarter. Assetmark Inc. now owns 1,235 shares of the company's stock valued at $39,000 after purchasing an additional 1,222 shares during the last quarter. ORG Partners LLC grew its holdings in Warner Music Group by 5,790.5% during the second quarter. ORG Partners LLC now owns 1,237 shares of the company's stock valued at $37,000 after purchasing an additional 1,216 shares during the period. Finally, ORG Wealth Partners LLC purchased a new stake in Warner Music Group in the third quarter worth $73,000. Institutional investors and hedge funds own 96.88% of the company's stock.

Warner Music Group Trading Down 1.2 %

Shares of NASDAQ WMG traded down $0.41 during midday trading on Friday, hitting $32.92. The company's stock had a trading volume of 927,448 shares, compared to its average volume of 1,176,010. The business's 50 day moving average is $31.36 and its two-hundred day moving average is $30.71. 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 firm has a market cap of $17.05 billion, a P/E ratio of 31.65, a price-to-earnings-growth ratio of 1.06 and a beta of 1.37. Warner Music Group Corp. has a 12-month low of $27.06 and a 12-month high of $38.05.

Warner Music Group Announces Dividend

The firm also recently disclosed 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. This represents a $0.72 dividend on an annualized basis and a yield of 2.19%. The ex-dividend date of this dividend is Tuesday, November 19th. Warner Music Group's dividend payout ratio (DPR) is presently 69.23%.

Analyst Ratings Changes

A number of equities analysts have weighed in on the stock. Macquarie cut their target price on shares of Warner Music Group from $32.00 to $30.00 and set a "neutral" rating for the company in a research report on Friday, October 11th. Deutsche Bank Aktiengesellschaft dropped their target price on Warner Music Group from $42.00 to $36.00 and set a "buy" rating for the company in a report on Tuesday, August 13th. Bank of America reiterated an "underperform" rating and set a $30.00 target price (down from $33.00) on shares of Warner Music Group in a report on Friday, October 4th. Wells Fargo & Company reduced their price target on shares of Warner Music Group from $37.00 to $34.00 and set an "equal weight" rating on the stock in a research report on Thursday, August 8th. Finally, Evercore ISI lowered their price objective on Warner Music Group from $40.00 to $36.00 and set an "outperform" rating for the company in a research report on Thursday, August 8th. Two analysts have rated the stock with a sell rating, three have assigned a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat, Warner Music Group has an average rating of "Hold" and a consensus price target of $36.17.

Insider Activity

In other Warner Music Group news, CEO Max Lousada sold 64,047 shares of the company's stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $28.25, for a total value 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 2.15 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In the last three months, insiders have sold 628,205 shares of company stock worth $17,628,757. 73.35% of the stock is currently owned by company insiders.

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.