DigitalBridge Group Inc. Grows Stock Position in Warner Music Group Corp. $WMG

DigitalBridge Group Inc. boosted its stake in shares of Warner Music Group Corp. (NASDAQ:WMG) by 41.0% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,136,333 shares of the company’s stock after purchasing an additional 330,257 shares during the quarter. Warner Music Group makes up 3.0% of DigitalBridge Group Inc.’s investment portfolio, making the stock its 12th biggest holding. DigitalBridge Group Inc. owned approximately 0.22% of Warner Music Group worth $38,704,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors also recently bought and sold shares of the company. Nisa Investment Advisors LLC grew its stake in Warner Music Group by 120.1% during the 3rd quarter. Nisa Investment Advisors LLC now owns 865 shares of the company’s stock worth $29,000 after buying an additional 472 shares during the last quarter. Farther Finance Advisors LLC lifted its holdings in shares of Warner Music Group by 57.5% during the third quarter. Farther Finance Advisors LLC now owns 879 shares of the company’s stock worth $30,000 after purchasing an additional 321 shares during the period. GAMMA Investing LLC grew its position in Warner Music Group by 85.7% in the 3rd quarter. GAMMA Investing LLC now owns 1,107 shares of the company’s stock valued at $38,000 after buying an additional 511 shares during the last quarter. Osaic Holdings Inc. grew its position in Warner Music Group by 480.9% in the 2nd quarter. Osaic Holdings Inc. now owns 1,493 shares of the company’s stock valued at $41,000 after buying an additional 1,236 shares during the last quarter. Finally, Mather Group LLC. purchased a new position in Warner Music Group in the 3rd quarter valued at $42,000. 96.88% of the stock is owned by hedge funds and other institutional investors.

Warner Music Group Stock Performance

Warner Music Group stock opened at $26.48 on Wednesday. The company has a market cap of $13.83 billion, a price-to-earnings ratio of 45.66, a price-to-earnings-growth ratio of 0.45 and a beta of 1.24. The company has a debt-to-equity ratio of 5.30, a current ratio of 0.70 and a quick ratio of 0.69. Warner Music Group Corp. has a 12 month low of $25.56 and a 12 month high of $34.63. The stock’s 50-day moving average is $29.14 and its 200-day moving average is $30.48.

Warner Music Group (NASDAQ:WMG) last issued its earnings results on Thursday, February 5th. The company reported $0.33 EPS for the quarter, missing analysts’ consensus estimates of $0.40 by ($0.07). The business had revenue of $1.84 billion during the quarter, compared to analysts’ expectations of $1.77 billion. Warner Music Group had a net margin of 4.43% and a return on equity of 38.33%. The business’s revenue was up 10.4% on a year-over-year basis. During the same period in the prior year, the business posted $0.45 EPS. Equities analysts anticipate that Warner Music Group Corp. will post 1.39 earnings per share for the current year.

Warner Music Group Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, March 3rd. Stockholders of record on Wednesday, February 18th were paid a dividend of $0.19 per share. This represents a $0.76 annualized dividend and a dividend yield of 2.9%. The ex-dividend date was Wednesday, February 18th. Warner Music Group’s dividend payout ratio is 131.03%.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on WMG shares. Citigroup dropped their price target on shares of Warner Music Group from $41.00 to $40.00 and set a “buy” rating on the stock in a research note on Wednesday, January 21st. Bank of America cut their price objective on Warner Music Group from $36.00 to $33.00 and set a “neutral” rating for the company in a research report on Friday, November 21st. The Goldman Sachs Group reaffirmed a “neutral” rating on shares of Warner Music Group in a research note on Tuesday, November 25th. Wolfe Research reissued an “outperform” rating and issued a $36.00 price objective on shares of Warner Music Group in a research note on Monday, December 15th. Finally, Jefferies Financial Group dropped their price objective on shares of Warner Music Group from $38.00 to $35.00 and set a “buy” rating for the company in a research note on Thursday, December 11th. Twelve analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $35.69.

Warner Music Group Profile

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.