Symmetry Investments LP recently decreased its holdings in Warner Music Group Corp. by 33.6% in the second quarter, according to a report filed with the SEC. The institutional investor sold 88,808 shares, leaving them with 175,421 shares of the company’s stock, valued at $5,377,000 at the end of the reporting period. Other large investors also made moves with Warner Music Group in the second quarter. Thrivent Financial for Lutherans acquired a new position worth $1,049,000, while Pacer Advisors Inc. and Bridges Investment Management Inc. both acquired new positions as well. Benjamin Edwards Inc. and Benjamin F. Edwards & Company Inc. increased their positions in Warner Music Group by significant percentages during the same period.
Warner Music Group’s stock performance on NASDAQ saw a slight decrease on Friday, trading at $30.44. The company’s market cap is $15.77 billion, with a price-to-earnings ratio of 30.44 and a beta of 1.37. Warner Music Group announced its quarterly earnings data on August 7th, reporting earnings per share of $0.27 for the quarter, slightly higher than analysts’ estimates. The company had revenue of $1.55 billion for the quarter, falling short of analyst expectations. Analysts predict that Warner Music Group Corp. will post 1.04 EPS for the current year.
In terms of dividends, Warner Music Group recently increased its quarterly dividend to $0.18, up from $0.17. This represents a $0.72 annualized dividend and a yield of 2.37%, with a dividend payout ratio of 72.00%. Wall Street analysts have varied opinions on the stock, with some reducing price targets and others maintaining a buy rating. The company has a consensus rating of “Moderate Buy” with a consensus price target of $36.69.
CEO Max Lousada recently sold a significant number of shares of Warner Music Group stock, totaling over $3.8 million. Insiders have sold a total of 628,205 shares over the last quarter, with corporate insiders owning 73.35% of the company’s stock. Warner Music Group operates as a music entertainment company, with recorded music and music publishing segments. Their operations span across the United States, the United Kingdom, Germany, and internationally.
In conclusion, while Warner Music Group has a “Moderate Buy” rating among analysts, there are other stocks that top analysts are recommending as better buys. It’s essential for investors to consider all available information and consult with financial advisors before making investment decisions.