44 Wealth Management LLC Sells 1,788 Shares of Warner Music Group Corp. (NASDAQ:WMG)

44 Wealth Management LLC reduced its position in shares of Warner Music Group Corp. (NASDAQ:WMG) by 4.3% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 39,491 shares of the company’s stock after selling 1,788 shares during the quarter. 44 Wealth Management LLC’s holdings in Warner Music Group were worth $1,224,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors also recently modified their holdings of the company. Concord Wealth Partners purchased a new position in shares of Warner Music Group in the 3rd quarter valued at approximately $30,000. Assetmark Inc. raised its holdings in shares of Warner Music Group by 9,400.0% during the third quarter. Assetmark Inc. now owns 1,235 shares of the company’s stock valued at $39,000 after purchasing an additional 1,222 shares during the last quarter. GAMMA Investing LLC raised its stake in Warner Music Group by 379.5% during the 4th quarter. GAMMA Investing LLC now owns 1,774 shares of the company’s stock valued at $55,000 after buying an additional 1,404 shares during the last quarter. Rosenberg Matthew Hamilton boosted its position in Warner Music Group by 14.0% in the fourth quarter. Rosenberg Matthew Hamilton now owns 3,705 shares of the company’s stock worth $115,000 after purchasing an additional 455 shares during the last quarter. Finally, Fifth Third Bancorp boosted its holdings in shares of Warner Music Group by 13.1% in the fourth quarter. Fifth Third Bancorp now owns 3,967 shares of the company’s stock worth $123,000 after buying an additional 458 shares during the last quarter. 96.88% of the stock is owned by institutional investors.

Warner Music Group Trading Down 0.9 %

Shares of WMG stock opened at $35.26 on Friday. The company has a debt-to-equity ratio of 5.67, a current ratio of 0.69 and a quick ratio of 0.67. The stock’s 50 day simple moving average is $31.78 and its two-hundred day simple moving average is $31.16. The company has a market cap of $18.35 billion, a PE ratio of 35.98, a price-to-earnings-growth ratio of 1.03 and a beta of 1.35. Warner Music Group Corp. has a 1 year low of $27.06 and a 1 year high of $36.64.

Warner Music Group (NASDAQ:WMG) last released its earnings results on Thursday, February 6th. The company reported $0.45 earnings per share for the quarter, topping the consensus estimate of $0.34 by $0.11. Warner Music Group had a return on equity of 79.01% and a net margin of 8.07%. Research analysts predict that Warner Music Group Corp. will post 1.39 earnings per share for the current year.

Warner Music Group Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, March 4th. Stockholders of record on Monday, February 24th will be issued a $0.18 dividend. The ex-dividend date is Monday, February 24th. This represents a $0.72 dividend on an annualized basis and a dividend yield of 2.04%. Warner Music Group’s dividend payout ratio is presently 73.47%.

Wall Street Analyst Weigh In

WMG has been the subject of a number of research reports. Evercore ISI reduced their target price on shares of Warner Music Group from $36.00 to $35.00 and set an “outperform” rating for the company in a report on Thursday, January 9th. Citigroup raised Warner Music Group from a “neutral” rating to a “buy” rating and raised their target price for the stock from $34.00 to $42.00 in a report on Friday, February 14th. UBS Group cut their price target on Warner Music Group from $43.00 to $41.00 and set a “buy” rating for the company in a report on Friday, January 10th. Loop Capital decreased their price objective on Warner Music Group from $38.00 to $35.00 and set a “hold” rating on the stock in a research note on Monday, November 25th. Finally, Guggenheim reiterated a “buy” rating and set a $40.00 price objective on shares of Warner Music Group in a research note on Friday, February 7th. Two research analysts have rated the stock with a sell rating, four have assigned a hold rating and ten have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $35.81.

Insider Buying and Selling

In other news, EVP Timothy Matusch sold 1,103 shares of the company’s stock in a transaction dated Friday, February 14th. The shares were sold at an average price of $36.49, for a total transaction of $40,248.47. Following the transaction, the executive vice president now owns 88,649 shares in the company, valued at $3,234,802.01. This represents a 1.23 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Lincoln E. Benet sold 35,000 shares of Warner Music Group stock in a transaction that occurred on Friday, December 20th. The stock was sold at an average price of $30.96, for a total transaction of $1,083,600.00. Following the completion of the sale, the director now owns 242,360 shares of the company’s stock, valued at $7,503,465.60. This trade represents a 12.62 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 64,333 shares of company stock worth $2,124,602 in the last three months. 72.21% of the stock is owned by 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.