Jacobs Levy Equity Management Inc. Acquires 2,161 Shares of Warner Music Group Corp. (NASDAQ:WMG)

Jacobs Levy Equity Management Inc. boosted its holdings in shares of Warner Music Group Corp. (NASDAQ:WMG) by 1.2% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 175,712 shares of the company’s stock after purchasing an additional 2,161 shares during the quarter. Jacobs Levy Equity Management Inc.’s holdings in Warner Music Group were worth $5,802,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. Bayesian Capital Management LP bought a new stake in shares of Warner Music Group in the first quarter worth about $759,000. Aristides Capital LLC purchased a new stake in shares of Warner Music Group during the 1st quarter worth approximately $229,000. Fairview Capital Investment Management LLC boosted its position in shares of Warner Music Group by 1.6% during the 1st quarter. Fairview Capital Investment Management LLC now owns 1,739,692 shares of the company’s stock valued at $57,445,000 after acquiring an additional 27,252 shares during the last quarter. Capital World Investors grew its holdings in shares of Warner Music Group by 41.7% in the first quarter. Capital World Investors now owns 13,201,194 shares of the company’s stock valued at $435,903,000 after purchasing an additional 3,881,684 shares in the last quarter. Finally, Capital International Sarl raised its position in shares of Warner Music Group by 10.7% during the 1st quarter. Capital International Sarl now owns 126,108 shares of the company’s stock valued at $4,164,000 after buying an additional 12,176 shares in the last quarter. 96.88% of the stock is owned by hedge funds and other institutional investors.

Warner Music Group Stock Up 0.9 %

Shares of NASDAQ:WMG traded up $0.27 during trading on Tuesday, reaching $29.97. The stock had a trading volume of 1,758,143 shares, compared to its average volume of 1,950,848. The firm’s 50-day simple moving average is $30.61 and its 200 day simple moving average is $33.03. The company has a current ratio of 0.69, a quick ratio of 0.67 and a debt-to-equity ratio of 6.81. Warner Music Group Corp. has a one year low of $28.89 and a one year high of $38.05. The company has a market capitalization of $15.52 billion, a P/E ratio of 29.97, a PEG ratio of 1.87 and a beta of 1.38.

Warner Music Group (NASDAQ:WMG) last issued its quarterly earnings data on Thursday, May 9th. The company reported $0.18 EPS for the quarter, beating the consensus estimate of $0.11 by $0.07. Warner Music Group had a return on equity of 120.42% and a net margin of 8.28%. The firm had revenue of $1.49 billion during the quarter, compared to analyst estimates of $1.48 billion. During the same quarter in the prior year, the business posted $0.06 EPS. The business’s revenue for the quarter was up 6.8% compared to the same quarter last year. As a group, research analysts expect that Warner Music Group Corp. will post 1.01 EPS for the current fiscal year.

Warner Music Group Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 3rd. Stockholders of record on Thursday, May 23rd were paid a dividend of $0.17 per share. The ex-dividend date was Wednesday, May 22nd. This represents a $0.68 annualized dividend and a dividend yield of 2.27%. Warner Music Group’s payout ratio is currently 68.00%.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on WMG shares. Redburn Atlantic restated a “sell” rating and issued a $23.00 price target (up from $21.00) on shares of Warner Music Group in a research report on Wednesday, July 10th. Guggenheim lowered their target price on shares of Warner Music Group from $46.00 to $45.00 and set a “buy” rating for the company in a report on Friday, April 5th. Jefferies Financial Group assumed coverage on shares of Warner Music Group in a report on Thursday, July 11th. They set a “buy” rating and a $38.00 price target on the stock. Wolfe Research initiated coverage on shares of Warner Music Group in a research note on Friday, July 12th. They issued an “outperform” rating and a $37.00 price objective for the company. Finally, Loop Capital upped their target price on Warner Music Group from $36.00 to $38.00 and gave the company a “hold” rating in a research note on Thursday, April 18th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and eleven have issued a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $38.13.

About Warner Music Group

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.