Boothbay Fund Management LLC Has $14.39 Million Stake in Warner Music Group Corp. $WMG

Boothbay Fund Management LLC grew its stake in shares of Warner Music Group Corp. (NASDAQ:WMG) by 62.7% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 422,613 shares of the company’s stock after buying an additional 162,825 shares during the period. Boothbay Fund Management LLC owned approximately 0.08% of Warner Music Group worth $14,394,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors also recently modified their holdings of the company. Vanguard Group Inc. raised its position in shares of Warner Music Group by 12.2% in the 3rd quarter. Vanguard Group Inc. now owns 16,914,577 shares of the company’s stock valued at $576,110,000 after acquiring an additional 1,837,801 shares during the period. Barrow Hanley Mewhinney & Strauss LLC grew its holdings in Warner Music Group by 4.2% during the third quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 8,914,756 shares of the company’s stock valued at $303,637,000 after purchasing an additional 363,092 shares during the period. Darsana Capital Partners LP increased its stake in 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 valued at $217,920,000 after purchasing an additional 1,000,000 shares in the last quarter. UBS Group AG increased its stake in Warner Music Group by 112.8% in the third quarter. UBS Group AG now owns 2,226,151 shares of the company’s stock valued at $75,823,000 after purchasing an additional 1,180,256 shares in the last quarter. Finally, Thrivent Financial for Lutherans raised its holdings in 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 purchasing an additional 2,139,067 shares during the period. 96.88% of the stock is currently owned by institutional investors and hedge funds.

Warner Music Group Price Performance

WMG stock opened at $27.32 on Friday. The stock has a 50-day moving average price of $29.28 and a two-hundred day moving average price of $30.59. Warner Music Group Corp. has a 1 year low of $25.56 and a 1 year high of $34.63. The stock has a market cap of $14.27 billion, a PE ratio of 47.10, a price-to-earnings-growth ratio of 0.45 and a beta of 1.24. The company has a current ratio of 0.70, a quick ratio of 0.69 and a debt-to-equity ratio of 5.30.

Warner Music Group (NASDAQ:WMG) last issued its quarterly 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 firm had revenue of $1.84 billion during 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 business’s revenue for the quarter was up 10.4% on a year-over-year basis. During the same quarter last year, the firm earned $0.45 earnings per share. Equities analysts forecast that Warner Music Group Corp. will post 1.39 EPS for the current fiscal year.

Warner Music Group Dividend Announcement

The company 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. The ex-dividend date was Wednesday, February 18th. This represents a $0.76 annualized dividend and a yield of 2.8%. Warner Music Group’s payout ratio is presently 131.03%.

Analyst Ratings Changes

Several equities analysts have recently issued reports on the stock. Wall Street Zen lowered shares of Warner Music Group from a “buy” rating to a “hold” rating in a report on Saturday, January 3rd. Citigroup dropped their price objective on 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. The Goldman Sachs Group reiterated a “neutral” rating on shares of Warner Music Group in a report on Tuesday, November 25th. Jefferies Financial Group lowered their price target on Warner Music Group from $38.00 to $35.00 and set a “buy” rating for the company in a report on Thursday, December 11th. Finally, Scotiabank upgraded Warner Music Group from a “sector perform” rating to a “sector outperform” rating in a report on Friday, February 13th. Twelve research analysts have rated the stock with a Buy rating and eight have given a Hold rating to the stock. According to data from MarketBeat, Warner Music Group currently has an average rating of “Moderate Buy” and a consensus target price of $35.69.

About Warner Music Group

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.