SRS Capital Advisors Inc. Takes Position in Warner Music Group Corp. (NASDAQ:WMG)

SRS Capital Advisors Inc. acquired a new position in shares of Warner Music Group Corp. (NASDAQ:WMG) in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 1,293 shares of the company’s stock, valued at approximately $46,000.

Other institutional investors have also recently bought and sold shares of the company. Exchange Traded Concepts LLC grew its position in Warner Music Group by 6.3% in the fourth quarter. Exchange Traded Concepts LLC now owns 9,224 shares of the company’s stock worth $330,000 after acquiring an additional 545 shares in the last quarter. Fifth Third Bancorp bought a new stake in Warner Music Group in the 4th quarter valued at $38,000. Principal Financial Group Inc. boosted its stake in Warner Music Group by 7.1% in the 3rd quarter. Principal Financial Group Inc. now owns 16,638 shares of the company’s stock valued at $522,000 after buying an additional 1,109 shares in the last quarter. Natixis Advisors L.P. grew its stake in Warner Music Group by 2.6% during the third quarter. Natixis Advisors L.P. now owns 50,014 shares of the company’s stock worth $1,570,000 after buying an additional 1,255 shares during the last quarter. Finally, Capital City Trust Co. FL increased its stake in shares of Warner Music Group by 21.4% in the fourth quarter. Capital City Trust Co. FL now owns 9,096 shares of the company’s stock valued at $326,000 after buying an additional 1,602 shares in the last quarter. Institutional investors and hedge funds own 96.88% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on WMG. Redburn Atlantic upgraded shares of Warner Music Group from a “sell” rating to a “neutral” rating and increased their price objective for the company from $17.00 to $21.00 in a report on Monday, February 5th. Guggenheim dropped their price objective on Warner Music Group from $46.00 to $45.00 and set a “buy” rating on the stock in a research note on Friday, April 5th. Finally, Loop Capital increased their price target on Warner Music Group from $36.00 to $38.00 and gave the stock a “hold” rating in a report on Thursday, April 18th. Six analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $36.88.

Warner Music Group Price Performance

Shares of NASDAQ WMG opened at $34.14 on Friday. Warner Music Group Corp. has a fifty-two week low of $23.62 and a fifty-two week high of $38.05. The stock has a market capitalization of $17.68 billion, a price-to-earnings ratio of 38.80, a PEG ratio of 2.15 and a beta of 1.43. The company has a debt-to-equity ratio of 6.50, a current ratio of 0.70 and a quick ratio of 0.67. The business has a 50-day moving average of $33.57 and a 200-day moving average of $34.04.

Warner Music Group (NASDAQ:WMG) last posted its earnings results on Wednesday, February 7th. The company reported $0.30 earnings per share for the quarter, missing analysts’ consensus estimates of $0.43 by ($0.13). Warner Music Group had a return on equity of 128.86% and a net margin of 7.42%. The business had revenue of $1.75 billion for the quarter, compared to analyst estimates of $1.68 billion. As a group, sell-side analysts predict that Warner Music Group Corp. will post 0.99 earnings per share for the current fiscal year.

Warner Music Group Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, March 1st. Investors of record on Thursday, February 22nd were paid a $0.17 dividend. The ex-dividend date of this dividend was Wednesday, February 21st. This represents a $0.68 dividend on an annualized basis and a yield of 1.99%. Warner Music Group’s dividend payout ratio (DPR) is currently 77.27%.

Warner Music Group Company Profile

Warner Music Group Corp. operates as a music entertainment company in the United States, the United Kingdom, Germany, and internationally. It operates through Recorded Music and Music Publishing segments. The Recorded Music segment is involved in the discovery and development of recording artists, as well as related marketing, promotion, distribution, sale, and licensing of music created by such recording artists; markets its music catalog through compilations and reissuances of previously released music and video titles, as well as previously unreleased materials; and conducts its operation primarily through a collection of record labels, such as Warner Records and Atlantic Records, as well as Asylum, Big Beat, Canvasback, East West, Erato, FFRR, Fueled by Ramen, Nonesuch, Parlophone, Reprise, Roadrunner, Sire, Spinnin' Records, Warner Classics, and Warner Music Nashville.