Peak Financial Advisors LLC Purchases New Holdings in Warner Music Group Corp. $WMG

Peak Financial Advisors LLC 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 24,538 shares of the company’s stock, valued at approximately $836,000.

Other institutional investors and hedge funds also recently made changes to their positions in the company. GAMMA Investing LLC grew its stake in shares of Warner Music Group by 85.7% in the third quarter. GAMMA Investing LLC now owns 1,107 shares of the company’s stock valued at $38,000 after buying an additional 511 shares in the last quarter. Osaic Holdings Inc. raised its position in Warner Music Group by 480.9% during the second quarter. Osaic Holdings Inc. now owns 1,493 shares of the company’s stock worth $41,000 after acquiring an additional 1,236 shares in the last quarter. CWM LLC lifted its stake in Warner Music Group by 528.0% in the second quarter. CWM LLC now owns 1,884 shares of the company’s stock valued at $51,000 after acquiring an additional 1,584 shares during the last quarter. Quarry LP bought a new position in shares of Warner Music Group in the 1st quarter valued at about $54,000. Finally, PNC Financial Services Group Inc. grew its position in shares of Warner Music Group by 45.2% in the 1st quarter. PNC Financial Services Group Inc. now owns 2,820 shares of the company’s stock valued at $88,000 after acquiring an additional 878 shares during the period. Institutional investors own 96.88% of the company’s stock.

Warner Music Group Trading Up 1.4%

Shares of NASDAQ:WMG opened at $28.55 on Thursday. Warner Music Group Corp. has a 12-month low of $25.56 and a 12-month high of $36.64. The business has a 50 day moving average of $30.24 and a 200-day moving average of $30.58. The company has a quick ratio of 0.64, a current ratio of 0.66 and a debt-to-equity ratio of 5.77. The stock has a market cap of $14.91 billion, a PE ratio of 40.79, a P/E/G ratio of 0.67 and a beta of 1.32.

Warner Music Group (NASDAQ:WMG) last released its quarterly earnings results on Thursday, November 20th. The company reported $0.21 earnings per share for the quarter, missing the consensus estimate of $0.35 by ($0.14). The firm had revenue of $1.87 billion for the quarter, compared to analyst estimates of $1.68 billion. Warner Music Group had a return on equity of 47.78% and a net margin of 5.44%.The business’s revenue for the quarter was up 14.6% on a year-over-year basis. During the same period in the previous year, the business posted $0.08 earnings per share. As a group, equities research analysts forecast 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 announced a quarterly dividend, which was paid on Tuesday, December 2nd. Stockholders of record on Wednesday, November 19th were given 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 was Wednesday, November 19th. Warner Music Group’s payout ratio is presently 108.57%.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on WMG. Citigroup upped their target price on shares of Warner Music Group from $33.00 to $41.00 and gave the company a “buy” rating in a report on Tuesday, September 9th. JPMorgan Chase & Co. upped their price objective on Warner Music Group from $36.00 to $40.00 and gave the company an “overweight” rating in a research note on Wednesday, October 8th. Wells Fargo & Company set a $39.00 price objective on Warner Music Group and gave the company an “overweight” rating in a research report on Tuesday, October 14th. Bank of America decreased their target price on Warner Music Group from $36.00 to $33.00 and set a “neutral” rating on the stock in a report on Friday, November 21st. Finally, Zacks Research raised Warner Music Group from a “strong sell” rating to a “hold” rating in a report on Tuesday, November 25th. Eleven equities research analysts have rated the stock with a Buy rating and ten have given a Hold rating to the stock. Based on data from MarketBeat.com, Warner Music Group presently has a consensus rating of “Moderate Buy” and an average price target of $34.94.

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.