Bayesian Capital Management LP Acquires Shares of 23,000 Warner Music Group Corp. (NASDAQ:WMG)

Bayesian Capital Management LP purchased a new stake in shares of Warner Music Group Corp. (NASDAQ:WMG) during the first quarter, according to the company in its most recent disclosure with the SEC. The firm purchased 23,000 shares of the company’s stock, valued at approximately $759,000.

Several other large investors also recently modified their holdings of WMG. Capital World Investors increased its holdings in Warner Music Group by 41.7% in the 1st quarter. Capital World Investors now owns 13,201,194 shares of the company’s stock valued at $435,903,000 after acquiring an additional 3,881,684 shares during the last quarter. FIL Ltd grew its holdings in shares of Warner Music Group by 85.6% in the fourth quarter. FIL Ltd now owns 5,198,892 shares of the company’s stock worth $186,068,000 after purchasing an additional 2,397,232 shares during the last quarter. Point72 Asset Management L.P. boosted its position in Warner Music Group by 87.1% in the 4th quarter. Point72 Asset Management L.P. now owns 2,713,747 shares of the company’s stock valued at $97,125,000 after buying an additional 1,263,690 shares during the period. Norges Bank bought a new position in Warner Music Group in the 4th quarter worth about $43,628,000. Finally, Assenagon Asset Management S.A. raised its stake in shares of Warner Music Group by 462.7% during the first quarter. Assenagon Asset Management S.A. now owns 1,013,025 shares of the company’s stock valued at $33,450,000 after acquiring an additional 832,990 shares in the last quarter. Institutional investors own 96.88% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have commented on the company. Jefferies Financial Group assumed coverage on Warner Music Group in a report on Thursday, July 11th. They set a “buy” rating and a $38.00 price objective on the stock. Wolfe Research began coverage on Warner Music Group in a research note on Friday, July 12th. They set an “outperform” rating and a $37.00 price target on the stock. Guggenheim lowered their price objective on shares of Warner Music Group from $46.00 to $45.00 and set a “buy” rating for the company in a research note on Friday, April 5th. Loop Capital raised their target price on shares of Warner Music Group from $36.00 to $38.00 and gave the company a “hold” rating in a research report on Thursday, April 18th. Finally, Redburn Atlantic reaffirmed a “sell” rating and issued a $23.00 price target (up previously from $21.00) on shares of Warner Music Group in a research report on Wednesday, July 10th. One analyst has rated the stock with a sell rating, four have issued a hold rating and eleven have issued a buy rating to the company. According to MarketBeat, Warner Music Group has an average rating of “Moderate Buy” and a consensus target price of $38.13.

Warner Music Group Trading Up 0.9 %

NASDAQ WMG traded up $0.27 on Tuesday, reaching $29.97. 1,491,344 shares of the company were exchanged, compared to its average volume of 1,949,008. Warner Music Group Corp. has a fifty-two week low of $28.89 and a fifty-two week high of $38.05. The stock has a market capitalization of $15.52 billion, a P/E ratio of 29.70, a price-to-earnings-growth ratio of 1.87 and a beta of 1.38. The business’s fifty day moving average price is $30.61 and its 200 day moving average price is $33.03. The company has a current ratio of 0.69, a quick ratio of 0.67 and a debt-to-equity ratio of 6.81.

Warner Music Group (NASDAQ:WMG) last issued its quarterly earnings data on Thursday, May 9th. The company reported $0.18 earnings per share for the quarter, beating analysts’ consensus estimates of $0.11 by $0.07. Warner Music Group had a return on equity of 120.42% and a net margin of 8.28%. The business had revenue of $1.49 billion during the quarter, compared to analysts’ expectations of $1.48 billion. During the same period in the previous year, the firm posted $0.06 earnings per share. The company’s revenue was up 6.8% on a year-over-year basis. Analysts forecast that Warner Music Group Corp. will post 1.01 earnings per share for the current year.

Warner Music Group Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 3rd. Stockholders of record on Thursday, May 23rd were paid a $0.17 dividend. This represents a $0.68 annualized dividend and a dividend yield of 2.27%. The ex-dividend date was Wednesday, May 22nd. Warner Music Group’s payout ratio is currently 68.00%.

Warner Music Group Profile

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.