Peak Financial Advisors LLC Boosts Position in Warner Music Group Corp. $WMG

Peak Financial Advisors LLC boosted its stake in shares of Warner Music Group Corp. (NASDAQ:WMG) by 207.7% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 75,505 shares of the company’s stock after buying an additional 50,967 shares during the quarter. Warner Music Group makes up 1.0% of Peak Financial Advisors LLC’s portfolio, making the stock its 29th largest position. Peak Financial Advisors LLC’s holdings in Warner Music Group were worth $2,316,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently added to or reduced their stakes in the stock. Nisa Investment Advisors LLC grew its stake in Warner Music Group by 120.1% in the 3rd quarter. Nisa Investment Advisors LLC now owns 865 shares of the company’s stock worth $29,000 after acquiring an additional 472 shares in the last quarter. Farther Finance Advisors LLC raised its stake 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 valued at $30,000 after acquiring an additional 321 shares in the last quarter. GAMMA Investing LLC raised its stake in shares of Warner Music Group by 85.7% during the third quarter. GAMMA Investing LLC now owns 1,107 shares of the company’s stock valued at $38,000 after acquiring an additional 511 shares in the last quarter. Caitong International Asset Management Co. Ltd boosted its holdings in shares of Warner Music Group by 774.6% in the third quarter. Caitong International Asset Management Co. Ltd now owns 1,207 shares of the company’s stock valued at $41,000 after purchasing an additional 1,069 shares during the period. Finally, Osaic Holdings Inc. grew its stake in Warner Music Group by 480.9% in the second quarter. Osaic Holdings Inc. now owns 1,493 shares of the company’s stock worth $41,000 after purchasing an additional 1,236 shares in the last quarter. 96.88% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

WMG has been the topic of several research reports. Moffett Nathanson began coverage on Warner Music Group in a report on Tuesday, January 27th. They set a “buy” rating and a $38.00 price objective on the stock. Sanford C. Bernstein reissued an “outperform” rating on shares of Warner Music Group in a research report on Wednesday, January 14th. Scotiabank upgraded Warner Music Group from a “sector perform” rating to a “sector outperform” rating in a research note on Friday, February 13th. Wall Street Zen downgraded Warner Music Group from a “buy” rating to a “hold” rating in a report on Saturday, January 3rd. Finally, Jefferies Financial Group lowered 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, Warner Music Group presently has an average rating of “Moderate Buy” and a consensus target price of $35.69.

Warner Music Group Stock Performance

Shares of NASDAQ:WMG opened at $23.89 on Thursday. The firm has a 50 day moving average of $28.34 and a 200 day moving average of $30.12. The company has a quick ratio of 0.69, a current ratio of 0.70 and a debt-to-equity ratio of 5.30. The company has a market capitalization of $12.48 billion, a price-to-earnings ratio of 41.19, a price-to-earnings-growth ratio of 0.39 and a beta of 1.24. Warner Music Group Corp. has a 52 week low of $23.34 and a 52 week high of $34.63.

Warner Music Group (NASDAQ:WMG) last announced its earnings results on Thursday, February 5th. The company reported $0.33 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.40 by ($0.07). The company had revenue of $1.84 billion for the quarter, compared to the consensus estimate of $1.77 billion. Warner Music Group had a net margin of 4.43% and a return on equity of 38.33%. The firm’s revenue was up 10.4% compared to the same quarter last year. During the same period last year, the business posted $0.45 EPS. On average, sell-side analysts predict that Warner Music Group Corp. will post 1.39 earnings per share for the current fiscal year.

Warner Music Group Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, March 3rd. Shareholders of record on Wednesday, February 18th were paid a $0.19 dividend. This represents a $0.76 annualized dividend and a yield of 3.2%. The ex-dividend date was Wednesday, February 18th. Warner Music Group’s payout ratio is 131.03%.

Warner Music Group Company 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.