E. Ohman J or Asset Management AB Buys 39,925 Shares of Warner Music Group Corp. (NASDAQ:WMG)

E. Ohman J or Asset Management AB increased its stake in Warner Music Group Corp. (NASDAQ:WMG) by 3.8% in the 3rd quarter, HoldingsChannel.com reports. The firm owned 1,090,238 shares of the company’s stock after acquiring an additional 39,925 shares during the period. E. Ohman J or Asset Management AB’s holdings in Warner Music Group were worth $34,124,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of WMG. Benjamin Edwards Inc. lifted its position in Warner Music Group by 74.5% during the 2nd quarter. Benjamin Edwards Inc. now owns 953 shares of the company’s stock valued at $29,000 after purchasing an additional 407 shares during the period. ORG Partners LLC raised its stake in shares of Warner Music Group by 5,790.5% during the second quarter. ORG Partners LLC now owns 1,237 shares of the company’s stock worth $37,000 after buying an additional 1,216 shares during the last quarter. ORG Wealth Partners LLC acquired a new position in Warner Music Group in the third quarter valued at approximately $73,000. Headlands Technologies LLC bought a new position in Warner Music Group in the first quarter valued at approximately $82,000. Finally, Itau Unibanco Holding S.A. acquired a new stake in Warner Music Group during the 2nd quarter worth $86,000. Institutional investors and hedge funds own 96.88% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on WMG. Bank of America reissued an “underperform” rating and issued a $30.00 price target (down previously from $33.00) on shares of Warner Music Group in a research note on Friday, October 4th. Tigress Financial reduced their target price on Warner Music Group from $52.00 to $44.00 and set a “buy” rating on the stock in a report on Thursday, September 12th. Redburn Atlantic reiterated a “sell” rating and issued a $23.00 price target (up from $21.00) on shares of Warner Music Group in a research report on Wednesday, July 10th. Evercore ISI decreased their price objective on shares of Warner Music Group from $40.00 to $36.00 and set an “outperform” rating for the company in a report on Thursday, August 8th. Finally, Wolfe Research initiated coverage on shares of Warner Music Group in a research note on Friday, July 12th. They issued an “outperform” rating and a $37.00 target price for the company. Two investment analysts have rated the stock with a sell rating, three have issued a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $36.17.

Insider Transactions at Warner Music Group

In related news, CEO Max Lousada sold 135,324 shares of Warner Music Group stock in a transaction that occurred on Thursday, September 5th. The stock was sold at an average price of $28.17, for a total value of $3,812,077.08. Following the sale, the chief executive officer now owns 2,725,964 shares of the company’s stock, valued at approximately $76,790,405.88. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders sold 628,205 shares of company stock valued at $17,628,757 over the last three months. Company insiders own 73.35% of the company’s stock.

Warner Music Group Stock Performance

Shares of WMG opened at $31.95 on Friday. The firm has a market cap of $16.55 billion, a P/E ratio of 30.61, a PEG ratio of 1.03 and a beta of 1.38. Warner Music Group Corp. has a twelve month low of $27.06 and a twelve month high of $38.05. The company has a debt-to-equity ratio of 6.26, a quick ratio of 0.67 and a current ratio of 0.69. The firm’s 50 day moving average price is $30.05 and its two-hundred day moving average price is $30.81.

Warner Music Group (NASDAQ:WMG) last issued its quarterly earnings data on Wednesday, August 7th. The company reported $0.27 EPS for the quarter, topping analysts’ consensus estimates of $0.25 by $0.02. The business had revenue of $1.55 billion for the quarter, compared to analyst estimates of $1.58 billion. Warner Music Group had a net margin of 8.56% and a return on equity of 101.32%. On average, analysts forecast that Warner Music Group Corp. will post 1.05 EPS for the current fiscal year.

Warner Music Group Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, September 4th. Stockholders of record on Tuesday, August 27th were issued a $0.18 dividend. This represents a $0.72 dividend on an annualized basis and a dividend yield of 2.25%. This is a positive change from Warner Music Group’s previous quarterly dividend of $0.17. The ex-dividend date was Tuesday, August 27th. Warner Music Group’s payout ratio is 69.23%.

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.