75,036 Shares in Warner Music Group Corp. $WMG Acquired by Greenland Capital Management LP

Greenland Capital Management LP bought a new stake in shares of Warner Music Group Corp. (NASDAQ:WMG) during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund bought 75,036 shares of the company’s stock, valued at approximately $2,556,000.

A number of other hedge funds also recently modified their holdings of WMG. Thrivent Financial for Lutherans grew its holdings in shares of Warner Music Group by 6,227.3% during the third quarter. Thrivent Financial for Lutherans now owns 2,173,417 shares of the company’s stock valued at $74,027,000 after buying an additional 2,139,067 shares in the last quarter. Vanguard Group Inc. grew its stake in Warner Music Group by 12.2% during the 3rd quarter. Vanguard Group Inc. now owns 16,914,577 shares of the company’s stock valued at $576,110,000 after acquiring an additional 1,837,801 shares in the last quarter. Norges Bank acquired a new position in shares of Warner Music Group in the 2nd quarter valued at about $31,485,000. Darsana Capital Partners LP lifted its position in shares of Warner Music Group by 14.3% in the second quarter. Darsana Capital Partners LP now owns 8,000,000 shares of the company’s stock worth $217,920,000 after purchasing an additional 1,000,000 shares in the last quarter. Finally, Assenagon Asset Management S.A. purchased a new stake in shares of Warner Music Group in the third quarter worth approximately $16,873,000. Hedge funds and other institutional investors own 96.88% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have weighed in on the stock. Scotiabank upgraded shares of Warner Music Group from a “sector perform” rating to a “sector outperform” rating in a research note on Friday, February 13th. Jefferies Financial Group lowered their price target on shares of Warner Music Group from $38.00 to $35.00 and set a “buy” rating on the stock in a report on Thursday, December 11th. UBS Group set a $33.00 price objective on Warner Music Group in a report on Friday, November 21st. The Goldman Sachs Group reissued a “neutral” rating on shares of Warner Music Group in a research report on Tuesday, November 25th. Finally, Sanford C. Bernstein reaffirmed an “outperform” rating on shares of Warner Music Group in a research report on Wednesday, January 14th. Twelve analysts have rated the stock with a Buy rating and eight have given a Hold rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $35.69.

Warner Music Group Stock Down 4.7%

WMG stock opened at $28.49 on Tuesday. The firm has a market cap of $14.88 billion, a PE ratio of 49.12, a PEG ratio of 0.49 and a beta of 1.24. Warner Music Group Corp. has a 1 year low of $25.56 and a 1 year high of $36.10. The company has a fifty day simple moving average of $29.86 and a 200 day simple moving average of $31.05. 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 earnings results 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 net margin of 4.43% and a return on equity of 38.33%. The company had revenue of $1.84 billion for the quarter, compared to the consensus estimate of $1.77 billion. During the same quarter last year, the business earned $0.45 earnings per share. Warner Music Group’s quarterly revenue was up 10.4% on a year-over-year basis. Sell-side analysts anticipate that Warner Music Group Corp. will post 1.39 EPS for the current fiscal year.

Warner Music Group Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 3rd. Investors of record on Wednesday, February 18th will be paid a $0.19 dividend. This represents a $0.76 dividend on an annualized basis and a dividend yield of 2.7%. The ex-dividend date of this dividend is Wednesday, February 18th. Warner Music Group’s dividend payout ratio (DPR) is presently 131.03%.

About Warner Music Group

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.