Entropy Technologies LP Makes New $279,000 Investment in Warner Music Group Corp. $WMG

Entropy Technologies LP acquired a new stake in shares of Warner Music Group Corp. (NASDAQ:WMG) in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 10,225 shares of the company’s stock, valued at approximately $279,000.

A number of other hedge funds and other institutional investors have also made changes to their positions in the business. Banque Cantonale Vaudoise acquired a new stake in Warner Music Group during the first quarter valued at approximately $40,000. CWM LLC lifted its position in shares of Warner Music Group by 528.0% during the 2nd quarter. CWM LLC now owns 1,884 shares of the company’s stock valued at $51,000 after acquiring an additional 1,584 shares during the last quarter. Quarry LP acquired a new stake in shares of Warner Music Group during the 1st quarter valued at $54,000. PNC Financial Services Group Inc. boosted its stake in shares of Warner Music Group by 45.2% during the 1st quarter. PNC Financial Services Group Inc. now owns 2,820 shares of the company’s stock worth $88,000 after acquiring an additional 878 shares in the last quarter. Finally, Caitong International Asset Management Co. Ltd acquired a new position in shares of Warner Music Group in the 1st quarter worth $104,000. 96.88% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on WMG shares. Wall Street Zen raised Warner Music Group from a “hold” rating to a “buy” rating in a report on Saturday, November 22nd. Tigress Financial boosted their price objective on Warner Music Group from $44.00 to $45.00 and gave the stock a “buy” rating in a report on Wednesday, September 10th. Sanford C. Bernstein reiterated an “outperform” rating on shares of Warner Music Group in a report on Monday. Weiss Ratings reissued a “hold (c-)” rating on shares of Warner Music Group in a research report on Wednesday, November 19th. Finally, Citigroup upped their price target on shares of Warner Music Group from $33.00 to $41.00 and gave the company a “buy” rating in a research report on Tuesday, September 9th. One analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating, nine have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, Warner Music Group currently has a consensus rating of “Moderate Buy” and a consensus target price of $34.88.

Warner Music Group Price Performance

NASDAQ WMG opened at $28.01 on Thursday. The company has a debt-to-equity ratio of 5.37, a current ratio of 0.66 and a quick ratio of 0.64. The firm has a market capitalization of $14.60 billion, a price-to-earnings ratio of 49.14, a price-to-earnings-growth ratio of 0.95 and a beta of 1.30. The company has a 50 day simple moving average of $31.89 and a 200-day simple moving average of $30.45. 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 announced its quarterly earnings data on Thursday, November 20th. The company reported $0.21 EPS for the quarter, missing analysts’ consensus estimates of $0.35 by ($0.14). Warner Music Group had a net margin of 4.59% and a return on equity of 39.95%. The company had revenue of $1.87 billion for the quarter, compared to analysts’ expectations of $1.68 billion. During the same period in the previous year, the firm posted $0.08 earnings per share. The business’s revenue for the quarter was up 14.6% on a year-over-year basis. Equities research analysts predict that Warner Music Group Corp. will post 1.39 earnings per share for the current fiscal year.

Warner Music Group Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 2nd. Stockholders of record on Wednesday, November 19th will be paid a $0.19 dividend. The ex-dividend date of this dividend is Wednesday, November 19th. This represents a $0.76 dividend on an annualized basis and a dividend yield of 2.7%. Warner Music Group’s dividend payout ratio is 108.57%.

Warner Music Group Company 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.