Fox Run Management L.L.C. Makes New $966,000 Investment in Warner Music Group Corp. $WMG

Fox Run Management L.L.C. acquired a new stake in Warner Music Group Corp. (NASDAQ:WMG) during the 3rd quarter, Holdings Channel reports. The institutional investor acquired 28,355 shares of the company’s stock, valued at approximately $966,000.

A number of other institutional investors have also modified their holdings of the company. Vanguard Group Inc. raised its holdings in Warner Music Group by 12.2% in the third quarter. Vanguard Group Inc. now owns 16,914,577 shares of the company’s stock valued at $576,110,000 after buying an additional 1,837,801 shares during the period. Darsana Capital Partners LP increased its position in shares of Warner Music Group by 14.3% in the second quarter. Darsana Capital Partners LP now owns 8,000,000 shares of the company’s stock worth $217,920,000 after acquiring an additional 1,000,000 shares in the last quarter. Thrivent Financial for Lutherans increased its position in shares of Warner Music Group by 6,227.3% in the third quarter. Thrivent Financial for Lutherans now owns 2,173,417 shares of the company’s stock worth $74,027,000 after acquiring an additional 2,139,067 shares in the last quarter. Artisan Partners Limited Partnership raised its stake in shares of Warner Music Group by 18.1% in the 2nd quarter. Artisan Partners Limited Partnership now owns 2,025,727 shares of the company’s stock valued at $55,181,000 after acquiring an additional 310,698 shares during the period. Finally, Norges Bank acquired a new position in shares of Warner Music Group during the 2nd quarter valued at $31,485,000. Hedge funds and other institutional investors own 96.88% of the company’s stock.

Warner Music Group Stock Performance

Warner Music Group stock opened at $27.98 on Friday. Warner Music Group Corp. has a 52 week low of $25.56 and a 52 week high of $34.94. The company has a current ratio of 0.70, a quick ratio of 0.69 and a debt-to-equity ratio of 5.30. The stock has a market cap of $14.62 billion, a P/E ratio of 48.24, a price-to-earnings-growth ratio of 0.45 and a beta of 1.24. The stock has a 50 day moving average of $29.78 and a 200-day moving average of $30.97.

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

Warner Music Group Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, March 3rd. Stockholders of record on Wednesday, February 18th will be paid a $0.19 dividend. This represents a $0.76 dividend on an annualized basis and a dividend yield of 2.7%. The ex-dividend date is Wednesday, February 18th. Warner Music Group’s dividend payout ratio is 131.03%.

Analyst Ratings Changes

WMG has been the subject of several recent research reports. Scotiabank upgraded Warner Music Group from a “sector perform” rating to a “sector outperform” rating in a report on Friday, February 13th. Zacks Research upgraded Warner Music Group from a “strong sell” rating to a “hold” rating in a report on Tuesday, November 25th. Wall Street Zen lowered Warner Music Group from a “buy” rating to a “hold” rating in a research report on Saturday, January 3rd. Sanford C. Bernstein restated an “outperform” rating on shares of Warner Music Group in a report on Wednesday, January 14th. Finally, Moffett Nathanson started coverage on shares of Warner Music Group in a research note on Tuesday, January 27th. They set a “buy” rating and a $38.00 price objective on the stock. Twelve analysts have rated the stock with a Buy rating and eight have given a Hold rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $35.69.

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.