Covalis Capital LLP Has $5.40 Million Stock Position in Warner Music Group Corp. (NASDAQ:WMG)

Covalis Capital LLP grew its position in Warner Music Group Corp. (NASDAQ:WMG) by 170.6% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 174,320 shares of the company’s stock after buying an additional 109,898 shares during the period. Covalis Capital LLP’s holdings in Warner Music Group were worth $5,404,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Patriot Financial Group Insurance Agency LLC boosted its position in shares of Warner Music Group by 3.4% during the fourth quarter. Patriot Financial Group Insurance Agency LLC now owns 12,269 shares of the company’s stock worth $380,000 after purchasing an additional 408 shares in the last quarter. Keystone Financial Services boosted its stake in shares of Warner Music Group by 4.4% during the 4th quarter. Keystone Financial Services now owns 10,336 shares of the company’s stock worth $320,000 after buying an additional 432 shares during the last quarter. Rosenberg Matthew Hamilton grew its stake in Warner Music Group by 14.0% in the fourth quarter. Rosenberg Matthew Hamilton now owns 3,705 shares of the company’s stock valued at $115,000 after purchasing an additional 455 shares in the last quarter. Fifth Third Bancorp grew its stake 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 valued at $123,000 after buying an additional 458 shares in the last quarter. Finally, Capital International Ltd. CA increased its stake in shares of Warner Music Group by 0.4% during the 4th quarter. Capital International Ltd. CA now owns 117,095 shares of the company’s stock worth $3,630,000 after purchasing an additional 479 shares during the last quarter. 96.88% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several analysts recently issued reports on the company. UBS Group reduced their price target on Warner Music Group from $43.00 to $41.00 and set a “buy” rating for the company in a research note on Friday, January 10th. FBN Securities assumed coverage on Warner Music Group in a research note on Friday, March 28th. They set a “sector perform” rating and a $35.00 target price for the company. Guggenheim reissued a “buy” rating and issued a $40.00 price objective on shares of Warner Music Group in a research note on Friday, February 7th. Morgan Stanley cut their price target on Warner Music Group from $38.00 to $37.00 and set an “overweight” rating on the stock in a research note on Monday, January 13th. Finally, Macquarie reissued a “neutral” rating and issued a $30.00 price objective on shares of Warner Music Group in a research note on Thursday, January 30th. Two analysts have rated the stock with a sell rating, five have issued a hold rating and ten have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $35.76.

Insider Buying and Selling

In related news, Director Valentin Blavatnik sold 28,230 shares of the company’s stock in a transaction that occurred on Thursday, February 20th. The shares were sold at an average price of $35.45, for a total transaction of $1,000,753.50. Following the sale, the director now directly owns 68,264 shares of the company’s stock, valued at $2,419,958.80. This represents a 29.26 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Timothy Matusch sold 1,103 shares of Warner Music Group stock in a transaction on Friday, February 14th. The stock was sold at an average price of $36.49, for a total transaction of $40,248.47. Following the sale, the executive vice president now directly owns 88,649 shares of the company’s stock, valued at approximately $3,234,802.01. This trade represents a 1.23 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 30,333 shares of company stock worth $1,072,432. 72.21% of the stock is owned by corporate insiders.

Warner Music Group Stock Up 1.9 %

NASDAQ:WMG opened at $29.12 on Friday. The firm has a market cap of $15.15 billion, a PE ratio of 29.71, a price-to-earnings-growth ratio of 1.03 and a beta of 1.32. The company has a debt-to-equity ratio of 5.67, a current ratio of 0.69 and a quick ratio of 0.67. Warner Music Group Corp. has a 1-year low of $27.06 and a 1-year high of $36.64. The company has a 50-day moving average of $32.35 and a 200 day moving average of $31.90.

Warner Music Group (NASDAQ:WMG) last announced its quarterly earnings data on Thursday, February 6th. The company reported $0.45 earnings per share for the quarter, beating analysts’ consensus estimates of $0.34 by $0.11. Warner Music Group had a net margin of 8.07% and a return on equity of 79.01%. As a group, research analysts anticipate that Warner Music Group Corp. will post 1.39 EPS for the current fiscal year.

Warner Music Group Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, March 4th. Stockholders of record on Monday, February 24th were given a $0.18 dividend. This represents a $0.72 dividend on an annualized basis and a dividend yield of 2.47%. The ex-dividend date was Monday, February 24th. Warner Music Group’s dividend payout ratio (DPR) is 73.47%.

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.