Joel Isaacson & Co. LLC Has $11.40 Million Stock Position in Warner Music Group Corp. (NASDAQ:WMG)

Joel Isaacson & Co. LLC lowered its stake in shares of Warner Music Group Corp. (NASDAQ:WMGGet Rating) by 0.2% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 468,000 shares of the company’s stock after selling 734 shares during the quarter. Warner Music Group comprises approximately 1.0% of Joel Isaacson & Co. LLC’s holdings, making the stock its 16th largest holding. Joel Isaacson & Co. LLC owned 0.09% of Warner Music Group worth $11,400,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of WMG. MBM Wealth Consultants LLC bought a new stake in shares of Warner Music Group in the 1st quarter worth about $57,000. Mirabella Financial Services LLP acquired a new position in Warner Music Group during the 1st quarter worth about $230,000. Stephens Inc. AR lifted its position in Warner Music Group by 8.0% during the 4th quarter. Stephens Inc. AR now owns 5,847 shares of the company’s stock worth $252,000 after buying an additional 432 shares in the last quarter. Capital Square LLC lifted its position in Warner Music Group by 38.9% during the 1st quarter. Capital Square LLC now owns 7,135 shares of the company’s stock worth $270,000 after buying an additional 2,000 shares in the last quarter. Finally, Captrust Financial Advisors lifted its position in Warner Music Group by 106.5% during the 1st quarter. Captrust Financial Advisors now owns 7,344 shares of the company’s stock worth $278,000 after buying an additional 3,787 shares in the last quarter. Institutional investors own 22.44% of the company’s stock.

Analyst Upgrades and Downgrades

WMG has been the topic of a number of research reports. Citigroup cut their target price on shares of Warner Music Group from $31.00 to $27.00 and set a “neutral” rating on the stock in a research report on Thursday, July 7th. Barclays cut their target price on shares of Warner Music Group from $37.00 to $33.00 and set an “overweight” rating on the stock in a research report on Tuesday, July 5th. TheStreet downgraded shares of Warner Music Group from a “c-” rating to a “d+” rating in a research report on Thursday, July 14th. Morgan Stanley cut their price target on shares of Warner Music Group from $37.00 to $34.00 and set an “overweight” rating on the stock in a research report on Monday, July 25th. Finally, JPMorgan Chase & Co. cut their price target on shares of Warner Music Group from $40.00 to $34.00 and set an “overweight” rating on the stock in a research report on Wednesday, July 13th. Two analysts have rated the stock with a sell rating, two have given a hold rating and ten have given a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $40.38.

Warner Music Group Trading Down 1.0 %

WMG stock traded down $0.24 during trading on Friday, hitting $24.82. The company had a trading volume of 15,842 shares, compared to its average volume of 805,358. The business has a 50-day moving average of $28.37 and a 200-day moving average of $29.83. Warner Music Group Corp. has a one year low of $23.74 and a one year high of $50.23. The stock has a market cap of $12.78 billion, a PE ratio of 29.66, a PEG ratio of 0.97 and a beta of 1.58. The company has a current ratio of 0.61, a quick ratio of 0.58 and a debt-to-equity ratio of 22.01.

Warner Music Group (NASDAQ:WMGGet Rating) last posted its quarterly earnings results on Tuesday, August 9th. The company reported $0.24 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.18 by $0.06. The firm had revenue of $1.43 billion for the quarter, compared to analysts’ expectations of $1.41 billion. Warner Music Group had a return on equity of 351.69% and a net margin of 7.43%. The company’s revenue for the quarter was up 6.9% compared to the same quarter last year. During the same period in the prior year, the business earned $0.14 EPS. Research analysts predict that Warner Music Group Corp. will post 0.91 earnings per share for the current fiscal year.

Warner Music Group Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, September 1st. Investors of record on Wednesday, August 24th were issued a $0.16 dividend. This is a boost from Warner Music Group’s previous quarterly dividend of $0.15. This represents a $0.64 dividend on an annualized basis and a dividend yield of 2.58%. The ex-dividend date of this dividend was Tuesday, August 23rd. Warner Music Group’s dividend payout ratio (DPR) is currently 77.11%.

Warner Music Group Profile

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Warner Music Group Corp. operates as a music entertainment company in the United States, the United Kingdom, Germany, and internationally. The company 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.

Further Reading

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Institutional Ownership by Quarter for Warner Music Group (NASDAQ:WMG)

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