Warner Music Group (NASDAQ:WMG) PT Raised to $38.00 at Loop Capital

Warner Music Group (NASDAQ:WMG) had its price objective boosted by stock analysts at Loop Capital from $36.00 to $38.00 in a research report issued on Thursday, Benzinga reports. The firm presently has a “hold” rating on the stock. Loop Capital’s price target points to a potential upside of 13.84% from the company’s previous close.

Other analysts have also recently issued research reports about the stock. Guggenheim lowered their price objective on shares of Warner Music Group from $46.00 to $45.00 and set a “buy” rating on the stock in a research report on Friday, April 5th. Redburn Atlantic upgraded shares of Warner Music Group from a “sell” rating to a “neutral” rating and lifted their target price for the stock from $17.00 to $21.00 in a research report on Monday, February 5th. Six analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to MarketBeat.com, Warner Music Group presently has an average rating of “Moderate Buy” and an average target price of $36.88.

Warner Music Group Price Performance

NASDAQ WMG traded up $0.08 on Thursday, hitting $33.38. The stock had a trading volume of 805,577 shares, compared to its average volume of 1,456,089. The firm has a 50-day moving average of $34.22 and a 200-day moving average of $34.01. The company has a debt-to-equity ratio of 6.50, a quick ratio of 0.67 and a current ratio of 0.70. The company has a market capitalization of $17.29 billion, a price-to-earnings ratio of 38.01, a price-to-earnings-growth ratio of 2.11 and a beta of 1.46. Warner Music Group has a 52-week low of $23.62 and a 52-week high of $38.05.

Warner Music Group (NASDAQ:WMG) last posted its quarterly earnings data on Wednesday, February 7th. The company reported $0.30 earnings per share for the quarter, missing the consensus estimate of $0.43 by ($0.13). The company had revenue of $1.75 billion for the quarter, compared to analysts’ expectations of $1.68 billion. Warner Music Group had a net margin of 7.42% and a return on equity of 128.86%. Equities analysts expect that Warner Music Group will post 0.99 EPS for the current year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the company. Hahn Capital Management LLC bought a new position in shares of Warner Music Group in the fourth quarter worth approximately $4,863,000. Schonfeld Strategic Advisors LLC lifted its stake in shares of Warner Music Group by 1,711.7% in the third quarter. Schonfeld Strategic Advisors LLC now owns 903,241 shares of the company’s stock worth $28,362,000 after buying an additional 853,384 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its position in Warner Music Group by 31.7% during the third quarter. Charles Schwab Investment Management Inc. now owns 801,840 shares of the company’s stock valued at $25,178,000 after purchasing an additional 193,221 shares during the period. DigitalBridge Group Inc. lifted its position in Warner Music Group by 46.3% during the third quarter. DigitalBridge Group Inc. now owns 479,878 shares of the company’s stock valued at $15,068,000 after purchasing an additional 151,778 shares during the period. Finally, Vanguard Group Inc. lifted its position in Warner Music Group by 2.8% during the third quarter. Vanguard Group Inc. now owns 10,984,798 shares of the company’s stock valued at $344,923,000 after purchasing an additional 302,892 shares during the period. Institutional investors own 96.88% of the company’s stock.

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.