Tower Research Capital LLC TRC Lowers Stock Holdings in Warner Music Group Corp. (NASDAQ:WMG)

Tower Research Capital LLC TRC lowered its position in shares of Warner Music Group Corp. (NASDAQ:WMG) by 75.1% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,657 shares of the company’s stock after selling 4,987 shares during the period. Tower Research Capital LLC TRC’s holdings in Warner Music Group were worth $59,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. Fifth Third Bancorp purchased a new stake in Warner Music Group during the fourth quarter valued at about $38,000. SRS Capital Advisors Inc. bought a new position in Warner Music Group during the 4th quarter worth approximately $46,000. Ramirez Asset Management Inc. purchased a new position in Warner Music Group in the 3rd quarter worth approximately $75,000. Acadian Asset Management LLC bought a new stake in Warner Music Group in the third quarter valued at approximately $228,000. Finally, Handelsbanken Fonder AB purchased a new stake in shares of Warner Music Group during the third quarter valued at approximately $243,000. Institutional investors own 96.88% of the company’s stock.

Warner Music Group Stock Up 1.3 %

Shares of NASDAQ:WMG traded up $0.42 during midday trading on Monday, reaching $32.82. The company’s stock had a trading volume of 1,034,644 shares, compared to its average volume of 1,451,085. The company has a quick ratio of 0.67, a current ratio of 0.70 and a debt-to-equity ratio of 6.50. The firm has a 50 day moving average of $33.68 and a 200-day moving average of $34.04. The firm has a market capitalization of $17.00 billion, a P/E ratio of 37.30, a PEG ratio of 2.04 and a beta of 1.46. Warner Music Group Corp. has a 12-month low of $23.62 and a 12-month high of $38.05.

Warner Music Group (NASDAQ:WMG) last posted its quarterly earnings data on Wednesday, February 7th. The company reported $0.30 EPS for the quarter, missing the consensus estimate of $0.43 by ($0.13). Warner Music Group had a return on equity of 128.86% and a net margin of 7.42%. The business had revenue of $1.75 billion for the quarter, compared to the consensus estimate of $1.68 billion. On average, research analysts anticipate 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 paid a $0.17 dividend. The ex-dividend date of this dividend was Wednesday, February 21st. This represents a $0.68 annualized dividend and a dividend yield of 2.07%. Warner Music Group’s payout ratio is currently 77.27%.

Analyst Upgrades and Downgrades

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

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.