Picton Mahoney Asset Management Purchases Shares of 31,064 Warner Music Group Corp. $WMG

Picton Mahoney Asset Management purchased a new position in shares of Warner Music Group Corp. (NASDAQ:WMG) during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund purchased 31,064 shares of the company’s stock, valued at approximately $1,058,000.

A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. Victory Capital Management Inc. grew its stake in shares of Warner Music Group by 113.5% in the third quarter. Victory Capital Management Inc. now owns 181,023 shares of the company’s stock valued at $6,166,000 after buying an additional 96,235 shares in the last quarter. Quantbot Technologies LP acquired a new stake in Warner Music Group in the third quarter valued at $2,144,000. R Squared Ltd bought a new position in shares of Warner Music Group in the 3rd quarter valued at about $250,000. Mitsubishi UFJ Asset Management Co. Ltd. increased its stake in shares of Warner Music Group by 7.5% during the 3rd quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 290,364 shares of the company’s stock worth $9,890,000 after purchasing an additional 20,348 shares during the last quarter. Finally, US Bancorp DE increased its stake in shares of Warner Music Group by 23.5% during the 3rd quarter. US Bancorp DE now owns 1,729 shares of the company’s stock worth $59,000 after purchasing an additional 329 shares during the last quarter. Institutional investors own 96.88% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on WMG. Sanford C. Bernstein reiterated an “outperform” rating on shares of Warner Music Group in a research note on Wednesday, January 14th. Wall Street Zen cut Warner Music Group from a “buy” rating to a “hold” rating in a research report on Saturday, January 3rd. Weiss Ratings reissued a “hold (c)” rating on shares of Warner Music Group in a report on Monday, December 29th. Wolfe Research restated an “outperform” rating and issued a $36.00 price target on shares of Warner Music Group in a research note on Monday, December 15th. Finally, Moffett Nathanson started coverage on Warner Music Group in a report on Tuesday, January 27th. They set a “buy” rating and a $38.00 price target for the company. Twelve equities research analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the company. Based on data from MarketBeat.com, Warner Music Group has a consensus rating of “Moderate Buy” and an average price target of $35.69.

Warner Music Group Stock Performance

NASDAQ:WMG opened at $29.10 on Friday. The stock has a 50 day simple moving average of $29.66 and a 200 day simple moving average of $30.85. The stock has a market cap of $15.20 billion, a P/E ratio of 50.17, a PEG ratio of 0.47 and a beta of 1.24. Warner Music Group Corp. has a 1-year low of $25.56 and a 1-year high of $34.94. The company has a current ratio of 0.70, a quick ratio of 0.69 and a debt-to-equity ratio of 5.30.

Warner Music Group (NASDAQ:WMG) last posted its quarterly earnings data on Thursday, February 5th. The company reported $0.33 earnings per share for the quarter, missing the consensus estimate of $0.40 by ($0.07). Warner Music Group had a return on equity of 38.33% and a net margin of 4.43%.The firm had revenue of $1.84 billion for the quarter, compared to the consensus estimate of $1.77 billion. During the same quarter in the previous year, the business earned $0.45 EPS. The firm’s quarterly revenue was up 10.4% on a year-over-year basis. Research analysts anticipate that Warner Music Group Corp. will post 1.39 earnings per share for the current year.

Warner Music Group Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, March 3rd. Investors of record on Wednesday, February 18th were given a dividend of $0.19 per share. This represents a $0.76 dividend on an annualized basis and a yield of 2.6%. The ex-dividend date of this dividend was Wednesday, February 18th. Warner Music Group’s dividend payout ratio (DPR) is currently 131.03%.

Warner Music Group Profile

Warner Music Group is a major global music company that operates across recorded music and music publishing. Its recorded-music business comprises a portfolio of well-known labels—including Atlantic, Warner Records and Parlophone—as well as distribution and artist-services operations that support both established and emerging artists. The company’s publishing arm, Warner Chappell Music, manages songwriting catalogs and administers rights for compositions across multiple media, providing licensing for film, television, advertising and other commercial uses.

WMG’s activities span the full music value chain: signing and developing artists, producing and marketing recordings, distributing music through physical channels and streaming platforms, and monetizing rights through licensing, synchronization and neighboring-rights collection.