Mutual of America Capital Management LLC Sells 4,539 Shares of Warner Music Group Corp. (NASDAQ:WMG)

Mutual of America Capital Management LLC decreased its position in Warner Music Group Corp. (NASDAQ:WMG) by 5.6% during the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 76,532 shares of the company’s stock after selling 4,539 shares during the quarter. Mutual of America Capital Management LLC’s holdings in Warner Music Group were worth $2,395,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in WMG. Benjamin Edwards Inc. grew its stake in Warner Music Group by 74.5% during the second quarter. Benjamin Edwards Inc. now owns 953 shares of the company’s stock worth $29,000 after buying an additional 407 shares during the last quarter. Concord Wealth Partners bought a new position in shares of Warner Music Group in the third quarter valued at approximately $30,000. ORG Partners LLC boosted its holdings in shares of Warner Music Group by 5,790.5% in the 2nd quarter. ORG Partners LLC now owns 1,237 shares of the company’s stock worth $37,000 after acquiring an additional 1,216 shares in the last quarter. Assetmark Inc. grew its position in Warner Music Group by 9,400.0% during the 3rd quarter. Assetmark Inc. now owns 1,235 shares of the company’s stock worth $39,000 after acquiring an additional 1,222 shares during the last quarter. Finally, ORG Wealth Partners LLC acquired a new stake in Warner Music Group during the 3rd quarter valued at $73,000. Institutional investors and hedge funds own 96.88% of the company’s stock.

Warner Music Group Stock Up 2.1 %

NASDAQ:WMG opened at $31.85 on Friday. The stock has a market cap of $16.50 billion, a price-to-earnings ratio of 38.37, a PEG ratio of 0.97 and a beta of 1.37. The company has a current ratio of 0.68, a quick ratio of 0.67 and a debt-to-equity ratio of 5.95. The stock has a 50-day moving average price of $31.78 and a two-hundred day moving average price of $30.65. Warner Music Group Corp. has a 1 year low of $27.06 and a 1 year high of $38.05.

Warner Music Group Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 3rd. Shareholders of record on Tuesday, November 19th will be issued a dividend of $0.18 per share. The ex-dividend date of this dividend is Tuesday, November 19th. This represents a $0.72 annualized dividend and a yield of 2.26%. Warner Music Group’s dividend payout ratio (DPR) is currently 86.75%.

Wall Street Analyst Weigh In

Several brokerages have recently commented on WMG. Deutsche Bank Aktiengesellschaft decreased their target price on Warner Music Group from $42.00 to $36.00 and set a “buy” rating on the stock in a report on Tuesday, August 13th. JPMorgan Chase & Co. lowered their price objective on shares of Warner Music Group from $41.00 to $40.00 and set an “overweight” rating for the company in a research report on Friday. Wells Fargo & Company reduced their target price on shares of Warner Music Group from $37.00 to $34.00 and set an “equal weight” rating on the stock in a research report on Thursday, August 8th. Macquarie reissued a “neutral” rating and set a $30.00 price target on shares of Warner Music Group in a research note on Friday. Finally, Bank of America restated an “underperform” rating and issued a $30.00 price objective (down previously from $33.00) on shares of Warner Music Group in a research report on Friday, October 4th. Two research analysts have rated the stock with a sell rating, four have issued a hold rating and eight have issued a buy rating to the stock. According to MarketBeat.com, Warner Music Group currently has an average rating of “Hold” and an average price target of $36.00.

Insider Activity

In other Warner Music Group news, CEO Max Lousada sold 428,834 shares of Warner Music Group stock in a transaction dated Tuesday, September 10th. The stock was sold at an average price of $28.00, for a total value of $12,007,352.00. Following the sale, the chief executive officer now owns 2,289,771 shares of the company’s stock, valued at $64,113,588. This trade represents a 15.77 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Insiders sold 628,205 shares of company stock worth $17,628,757 over the last quarter. 73.35% of the stock is currently owned by company insiders.

Warner Music Group 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.