Inceptionr LLC Takes $1.35 Million Position in Warner Music Group Corp. $WMG

Inceptionr LLC acquired a new stake in shares of Warner Music Group Corp. (NASDAQ:WMG) during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 52,874 shares of the company’s stock, valued at approximately $1,350,000.

Several other large investors also recently bought and sold shares of the business. JPMorgan Chase & Co. increased its holdings in Warner Music Group by 15.2% in the 4th quarter. JPMorgan Chase & Co. now owns 16,645,276 shares of the company’s stock worth $510,511,000 after buying an additional 2,200,362 shares in the last quarter. Millennium Management LLC boosted its holdings in shares of Warner Music Group by 178.5% during the 3rd quarter. Millennium Management LLC now owns 3,183,654 shares of the company’s stock valued at $108,435,000 after acquiring an additional 2,040,425 shares during the last quarter. UBS Group AG grew its stake in shares of Warner Music Group by 112.8% in the third quarter. UBS Group AG now owns 2,226,151 shares of the company’s stock worth $75,823,000 after acquiring an additional 1,180,256 shares during the period. Norges Bank bought a new stake in shares of Warner Music Group in the fourth quarter worth approximately $35,449,000. Finally, Freestone Grove Partners LP purchased a new position in shares of Warner Music Group during the third quarter valued at approximately $36,821,000. 96.88% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

WMG has been the topic of a number of research analyst reports. JPMorgan Chase & Co. increased their price objective on shares of Warner Music Group from $40.00 to $43.00 and gave the company an “overweight” rating in a research report on Friday, May 8th. Sanford C. Bernstein reiterated an “outperform” rating on shares of Warner Music Group in a research note on Friday, May 8th. Zacks Research cut Warner Music Group from a “strong-buy” rating to a “hold” rating in a report on Monday, June 22nd. Wall Street Zen cut Warner Music Group from a “buy” rating to a “hold” rating in a report on Saturday, July 18th. Finally, Morgan Stanley set a $39.00 price target on Warner Music Group in a research note on Friday, May 8th. Fourteen equities research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $38.43.

Warner Music Group Price Performance

Shares of NASDAQ:WMG opened at $26.60 on Friday. The company has a quick ratio of 0.71, a current ratio of 0.73 and a debt-to-equity ratio of 5.62. The stock has a market capitalization of $13.88 billion, a PE ratio of 31.29, a price-to-earnings-growth ratio of 0.40 and a beta of 1.30. The firm’s 50 day moving average price is $29.56 and its 200-day moving average price is $28.98. Warner Music Group Corp. has a twelve month low of $23.34 and a twelve month high of $35.42.

Warner Music Group (NASDAQ:WMG) last announced its earnings results on Thursday, May 7th. The company reported $0.44 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.30 by $0.14. Warner Music Group had a net margin of 6.34% and a return on equity of 62.01%. The company had revenue of $1.73 billion during the quarter, compared to analyst estimates of $1.61 billion. During the same period in the previous year, the business posted $0.07 earnings per share. The firm’s quarterly revenue was up 16.7% compared to the same quarter last year. Equities research analysts expect that Warner Music Group Corp. will post 1.52 EPS for the current year.

Warner Music Group Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, June 2nd. Stockholders of record on Tuesday, May 26th were given a dividend of $0.19 per share. The ex-dividend date of this dividend was Tuesday, May 26th. This represents a $0.76 dividend on an annualized basis and a dividend yield of 2.9%. Warner Music Group’s payout ratio is presently 89.41%.

Warner Music Group Company 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.