Warner Music Group Corp. $WMG Shares Sold by Candriam S.C.A.

Candriam S.C.A. cut its stake in shares of Warner Music Group Corp. (NASDAQ:WMG) by 58.7% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 243,721 shares of the company’s stock after selling 346,832 shares during the period. Candriam S.C.A.’s holdings in Warner Music Group were worth $6,754,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. Darsana Capital Partners LP boosted its position in shares of Warner Music Group by 0.8% during the 2nd quarter. Darsana Capital Partners LP now owns 11,943,199 shares of the company’s stock worth $323,302,000 after purchasing an additional 93,199 shares during the period. Renaissance Technologies LLC lifted its stake in Warner Music Group by 88.3% during the first quarter. Renaissance Technologies LLC now owns 1,521,800 shares of the company’s stock worth $38,867,000 after purchasing an additional 713,578 shares in the last quarter. Bank of New York Mellon Corp acquired a new position in Warner Music Group during the second quarter worth $34,111,000. Principal Financial Group Inc. boosted its position in shares of Warner Music Group by 207.5% during the first quarter. Principal Financial Group Inc. now owns 952,316 shares of the company’s stock worth $24,323,000 after buying an additional 642,590 shares during the period. Finally, Ardmore Road Asset Management LP boosted its position in shares of Warner Music Group by 61.9% during the first quarter. Ardmore Road Asset Management LP now owns 843,836 shares of the company’s stock worth $21,552,000 after buying an additional 322,640 shares during the period. 96.88% of the stock is owned by hedge funds and other institutional investors.

Warner Music Group Trading Up 0.2%

WMG opened at $31.84 on Wednesday. The business has a fifty day moving average price of $29.22 and a 200 day moving average price of $28.64. The company has a debt-to-equity ratio of 4.94, a current ratio of 0.73 and a quick ratio of 0.72. Warner Music Group Corp. has a 12 month low of $23.34 and a 12 month high of $35.42. The stock has a market capitalization of $16.66 billion, a price-to-earnings ratio of 23.38, a PEG ratio of 0.44 and a beta of 1.34.

Warner Music Group Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 1st. Investors of record on Friday, November 20th will be paid a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a dividend yield of 2.5%. The ex-dividend date is Friday, November 20th. Warner Music Group’s dividend payout ratio is presently 63.49%.

Analyst Ratings Changes

Several research firms recently issued reports on WMG. Zacks Research upgraded Warner Music Group from a “strong sell” rating to a “hold” rating in a report on Friday, October 30th. Stonex Financial raised Warner Music Group to a “strong-buy” rating in a research report on Wednesday, October 14th. Wall Street Zen lowered shares of Warner Music Group from a “buy” rating to a “hold” rating in a research note on Saturday, July 18th. Morgan Stanley reissued an “overweight” rating and set a $36.00 price target on shares of Warner Music Group in a research report on Thursday, August 6th. Finally, Guggenheim reissued a “buy” rating and set a $36.00 price target on shares of Warner Music Group in a research report on Tuesday, September 29th. One investment analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and four have issued a Hold rating to the stock. According to data from MarketBeat.com, Warner Music Group has a consensus rating of “Moderate Buy” and an average target price of $38.30.

Warner Music Group Company Profile

Warner Music Group is a global music entertainment company with two main businesses: recorded music and music publishing. Its recorded music operations discover and develop artists, release and market recordings, and distribute music through digital services and physical formats. The company works with artists across a range of genres and career stages. Through its recorded music labels, including Atlantic Records, Warner Records and Elektra Records, Warner Music Group supports artists with services such as artist development, marketing and distribution.