K.J. Harrison & Partners Inc Has $3.26 Million Position in Warner Music Group Corp. (NASDAQ:WMG)

K.J. Harrison & Partners Inc trimmed its position in shares of Warner Music Group Corp. (NASDAQ:WMG) by 23.5% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 91,100 shares of the company’s stock after selling 28,000 shares during the quarter. K.J. Harrison & Partners Inc’s holdings in Warner Music Group were worth $3,260,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Fifth Third Bancorp acquired a new stake in Warner Music Group in the fourth quarter valued at $38,000. Ramirez Asset Management Inc. acquired a new position in shares of Warner Music Group during the third quarter valued at about $75,000. Acadian Asset Management LLC acquired a new position in Warner Music Group during the 3rd quarter worth approximately $228,000. Handelsbanken Fonder AB bought a new position in Warner Music Group in the third quarter worth approximately $243,000. Finally, Exchange Traded Concepts LLC grew its stake in Warner Music Group by 206.9% in the third quarter. Exchange Traded Concepts LLC now owns 8,679 shares of the company’s stock valued at $273,000 after acquiring an additional 5,851 shares during the period. 96.88% of the stock is currently owned by institutional investors.

Warner Music Group Stock Up 2.7 %

NASDAQ:WMG traded up $0.85 on Friday, hitting $32.40. The stock had a trading volume of 997,309 shares, compared to its average volume of 1,454,574. Warner Music Group Corp. has a 1 year low of $23.62 and a 1 year high of $38.05. The firm’s fifty day simple moving average is $33.73 and its two-hundred day simple moving average is $34.02. The stock has a market cap of $16.78 billion, a P/E ratio of 36.82, a price-to-earnings-growth ratio of 2.01 and a beta of 1.46. The company has a debt-to-equity ratio of 6.50, a quick ratio of 0.67 and a current ratio of 0.70.

Warner Music Group (NASDAQ:WMG) last issued its quarterly earnings results on Wednesday, February 7th. The company reported $0.30 EPS for the quarter, missing analysts’ consensus estimates of $0.43 by ($0.13). Warner Music Group had a net margin of 7.42% and a return on equity of 128.86%. The business had revenue of $1.75 billion for the quarter, compared to analysts’ expectations of $1.68 billion. Analysts predict that Warner Music Group Corp. will post 0.99 earnings per share for the current 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 issued a $0.17 dividend. This represents a $0.68 dividend on an annualized basis and a dividend yield of 2.10%. The ex-dividend date was Wednesday, February 21st. Warner Music Group’s dividend payout ratio (DPR) is currently 77.27%.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on the company. Loop Capital upped their target price on Warner Music Group from $36.00 to $38.00 and gave the stock a “hold” rating in a research report on Thursday, April 18th. Guggenheim decreased their price target on shares of Warner Music Group from $46.00 to $45.00 and set a “buy” rating for the company in a research note on Friday, April 5th. Finally, Redburn Atlantic raised shares of Warner Music Group from a “sell” rating to a “neutral” rating and raised their price objective for the company from $17.00 to $21.00 in a research note on Monday, February 5th. Six analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to data from MarketBeat.com, Warner Music Group currently has an average rating of “Moderate Buy” and an average target price of $36.88.

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.