Warner Music Group Corp. $WMG Shares Sold by E. Ohman J or Asset Management AB

E. Ohman J or Asset Management AB reduced its stake in shares of Warner Music Group Corp. (NASDAQ:WMG) by 3.5% during the 3rd quarter, according to its most recent filing with the SEC. The firm owned 1,011,770 shares of the company’s stock after selling 36,307 shares during the period. E. Ohman J or Asset Management AB’s holdings in Warner Music Group were worth $34,461,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. MetLife Investment Management LLC lifted its holdings in shares of Warner Music Group by 0.7% in the 1st quarter. MetLife Investment Management LLC now owns 77,901 shares of the company’s stock valued at $2,442,000 after buying an additional 566 shares during the period. BNP Paribas Financial Markets raised its position in Warner Music Group by 2,198.4% during the first quarter. BNP Paribas Financial Markets now owns 999,613 shares of the company’s stock valued at $31,338,000 after acquiring an additional 956,121 shares in the last quarter. Landscape Capital Management L.L.C. lifted its holdings in Warner Music Group by 14.9% in the first quarter. Landscape Capital Management L.L.C. now owns 25,705 shares of the company’s stock valued at $806,000 after acquiring an additional 3,327 shares during the period. State of Wyoming boosted its position in Warner Music Group by 190.3% in the 1st quarter. State of Wyoming now owns 4,422 shares of the company’s stock worth $139,000 after purchasing an additional 2,899 shares in the last quarter. Finally, Magnetar Financial LLC acquired a new stake in shares of Warner Music Group during the 1st quarter worth approximately $566,000. Hedge funds and other institutional investors own 96.88% of the company’s stock.

Warner Music Group Stock Up 0.4%

Shares of NASDAQ WMG opened at $29.95 on Friday. The firm has a market cap of $15.65 billion, a price-to-earnings ratio of 42.79, a price-to-earnings-growth ratio of 0.71 and a beta of 1.32. The company’s 50-day simple moving average is $29.87 and its 200-day simple moving average is $30.75. The company has a quick ratio of 0.64, a current ratio of 0.66 and a debt-to-equity ratio of 5.77. Warner Music Group Corp. has a 52-week low of $25.56 and a 52-week high of $36.64.

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). Warner Music Group had a return on equity of 47.78% and a net margin of 5.44%.The company had revenue of $1.87 billion for the quarter, compared to analyst estimates of $1.68 billion. During the same quarter last year, the company earned $0.08 EPS. The firm’s revenue for the quarter was up 14.6% on a year-over-year basis. Equities analysts predict that Warner Music Group Corp. will post 1.39 EPS for the current fiscal year.

Warner Music Group Announces Dividend

The company 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 annualized dividend and a dividend yield of 2.5%. The ex-dividend date was Wednesday, November 19th. Warner Music Group’s dividend payout ratio (DPR) is 108.57%.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on WMG shares. UBS Group set a $33.00 target price on shares of Warner Music Group in a report on Friday, November 21st. Wolfe Research reaffirmed an “outperform” rating and issued a $36.00 price objective on shares of Warner Music Group in a report on Monday, December 15th. Wall Street Zen upgraded shares of Warner Music Group from a “hold” rating to a “buy” rating in a research report on Saturday, November 22nd. The Goldman Sachs Group restated a “neutral” rating on shares of Warner Music Group in a research report on Tuesday, November 25th. Finally, Zacks Research upgraded Warner Music Group from a “strong sell” rating to a “hold” rating in a research note on Tuesday, November 25th. Eleven research analysts have rated the stock with a Buy rating and ten have issued a Hold rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $34.94.

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.