Quantbot Technologies LP Purchases 34,599 Shares of Warner Music Group Corp. (NASDAQ:WMG)

Quantbot Technologies LP lifted its position in shares of Warner Music Group Corp. (NASDAQ:WMG) by 355.3% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 44,337 shares of the company’s stock after acquiring an additional 34,599 shares during the period. Quantbot Technologies LP’s holdings in Warner Music Group were worth $1,388,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds also recently made changes to their positions in WMG. Dynamic Technology Lab Private Ltd boosted its holdings in Warner Music Group by 9.1% in the third quarter. Dynamic Technology Lab Private Ltd now owns 11,054 shares of the company’s stock worth $346,000 after purchasing an additional 924 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in Warner Music Group by 0.4% in the third quarter. Charles Schwab Investment Management Inc. now owns 904,777 shares of the company’s stock worth $28,320,000 after purchasing an additional 3,752 shares during the last quarter. Advisors Asset Management Inc. boosted its holdings in Warner Music Group by 10.7% in the third quarter. Advisors Asset Management Inc. now owns 34,328 shares of the company’s stock worth $1,074,000 after purchasing an additional 3,314 shares during the last quarter. Avior Wealth Management LLC boosted its holdings in Warner Music Group by 30.7% in the third quarter. Avior Wealth Management LLC now owns 35,800 shares of the company’s stock worth $1,121,000 after purchasing an additional 8,400 shares during the last quarter. Finally, Mawer Investment Management Ltd. boosted its holdings in Warner Music Group by 2,699.4% in the third quarter. Mawer Investment Management Ltd. now owns 8,217,467 shares of the company’s stock worth $257,207,000 after purchasing an additional 7,923,926 shares during the last quarter. Institutional investors own 96.88% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts recently issued reports on WMG shares. Barclays dropped their target price on shares of Warner Music Group from $32.00 to $31.00 and set an “equal weight” rating on the stock in a report on Friday, November 22nd. Macquarie reiterated a “neutral” rating and set a $30.00 price target on shares of Warner Music Group in a research note on Friday, November 22nd. Loop Capital dropped their price target on shares of Warner Music Group from $38.00 to $35.00 and set a “hold” rating on the stock in a research note on Monday, November 25th. Wells Fargo & Company dropped their price target on shares of Warner Music Group from $37.00 to $34.00 and set an “equal weight” rating on the stock in a research note on Thursday, August 8th. Finally, Bank of America reiterated an “underperform” rating and set a $30.00 price target (down previously from $33.00) on shares of Warner Music Group in a research note on Friday, October 4th. Two equities research analysts have rated the stock with a sell rating, five have given a hold rating and eight have assigned a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $35.67.

Warner Music Group Stock Up 1.3 %

Shares of WMG stock opened at $32.52 on Friday. Warner Music Group Corp. has a one year low of $27.06 and a one year high of $38.05. The company has a debt-to-equity ratio of 5.95, a current ratio of 0.68 and a quick ratio of 0.65. The company’s fifty day moving average price is $31.97 and its 200-day moving average price is $30.64. The company has a market capitalization of $16.85 billion, a price-to-earnings ratio of 39.18, a PEG ratio of 0.70 and a beta of 1.37.

Warner Music Group Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 3rd. Investors of record on Tuesday, November 19th will be paid a dividend of $0.18 per share. The ex-dividend date of this dividend is Tuesday, November 19th. This represents a $0.72 dividend on an annualized basis and a dividend yield of 2.21%. Warner Music Group’s dividend payout ratio is presently 86.75%.

Insider Buying and Selling

In other Warner Music Group news, CEO Max Lousada sold 428,834 shares of the business’s stock in a transaction dated Tuesday, September 10th. The shares were sold at an average price of $28.00, for a total value of $12,007,352.00. Following the completion of the sale, the chief executive officer now directly owns 2,289,771 shares of the company’s stock, valued at $64,113,588. The trade was a 15.77 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In the last ninety days, insiders sold 628,205 shares of company stock valued at $17,628,757. Company insiders own 73.35% of the company’s stock.

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.