SRS Capital Advisors Inc. Takes Position in Warner Music Group Corp. (NASDAQ:WMG)

SRS Capital Advisors Inc. acquired a new position in shares of Warner Music Group Corp. (NASDAQ:WMG) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 1,293 shares of the company’s stock, valued at approximately $46,000.

Several other large investors have also bought and sold shares of the business. Fifth Third Bancorp bought a new position in shares of Warner Music Group in the 4th quarter valued at $38,000. Ramirez Asset Management Inc. acquired a new stake in shares of Warner Music Group during the third quarter valued at about $75,000. Acadian Asset Management LLC acquired a new stake in shares of Warner Music Group during the third quarter valued at about $228,000. Simon Quick Advisors LLC bought a new stake in shares of Warner Music Group during the fourth quarter worth about $296,000. Finally, Alps Advisors Inc. acquired a new position in shares of Warner Music Group in the third quarter valued at approximately $324,000. 96.88% of the stock is owned by institutional investors and hedge funds.

Warner Music Group Stock Performance

WMG stock opened at $34.14 on Friday. 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 market cap of $17.68 billion, a PE ratio of 38.80, a P/E/G ratio of 2.15 and a beta of 1.43. The business has a 50 day moving average of $33.57 and a 200-day moving average of $34.04. 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 announced its earnings results on Wednesday, February 7th. The company reported $0.30 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.43 by ($0.13). The business had revenue of $1.75 billion for the quarter, compared to analysts’ expectations of $1.68 billion. Warner Music Group had a net margin of 7.42% and a return on equity of 128.86%. As a group, sell-side analysts expect 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 announced a quarterly dividend, which was paid on Friday, March 1st. Stockholders of record on Thursday, February 22nd were given a dividend of $0.17 per share. This represents a $0.68 dividend on an annualized basis and a dividend yield of 1.99%. The ex-dividend date was Wednesday, February 21st. Warner Music Group’s dividend payout ratio is currently 77.27%.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on WMG shares. Redburn Atlantic upgraded shares of Warner Music Group from a “sell” rating to a “neutral” rating and increased their price objective for the stock from $17.00 to $21.00 in a research report on Monday, February 5th. Loop Capital boosted their price objective on Warner Music Group from $36.00 to $38.00 and gave the company a “hold” rating in a research note on Thursday, April 18th. Finally, Guggenheim decreased their target price on 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. Six research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. Based on data from MarketBeat, Warner Music Group currently has a consensus rating of “Moderate Buy” and an average price target 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.