RBO & Co. LLC Has $13.98 Million Stock Holdings in Warner Music Group Corp. (NASDAQ:WMG)

RBO & Co. LLC grew its position in Warner Music Group Corp. (NASDAQ:WMG) by 2.3% in the 3rd quarter, according to its most recent filing with the SEC. The firm owned 446,753 shares of the company’s stock after buying an additional 10,236 shares during the period. Warner Music Group accounts for approximately 2.2% of RBO & Co. LLC’s investment portfolio, making the stock its 24th largest holding. RBO & Co. LLC’s holdings in Warner Music Group were worth $13,983,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in the company. Bayesian Capital Management LP bought a new stake in Warner Music Group during the 1st quarter worth about $759,000. Aristeia Capital L.L.C. acquired a new stake in shares of Warner Music Group during the 2nd quarter worth approximately $606,000. Mawer Investment Management Ltd. raised its stake in shares of Warner Music Group by 2,699.4% during the third quarter. Mawer Investment Management Ltd. now owns 8,217,467 shares of the company’s stock worth $257,207,000 after buying an additional 7,923,926 shares during the last quarter. Perpetual Ltd acquired a new position in Warner Music Group in the third quarter valued at approximately $15,766,000. Finally, Amalgamated Bank bought a new position in Warner Music Group in the second quarter valued at approximately $1,956,000. Institutional investors own 96.88% of the company’s stock.

Warner Music Group Trading Up 1.1 %

Shares of NASDAQ:WMG opened at $32.40 on Wednesday. The firm has a market cap of $16.78 billion, a price-to-earnings ratio of 39.04, a PEG ratio of 0.69 and a beta of 1.37. The company has a quick ratio of 0.65, a current ratio of 0.68 and a debt-to-equity ratio of 5.95. Warner Music Group Corp. has a 12 month low of $27.06 and a 12 month high of $38.05. The company’s fifty day simple moving average is $31.86 and its 200 day simple moving average is $30.62.

Warner Music Group Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 3rd. Investors of record on Tuesday, November 19th will be issued a dividend of $0.18 per share. The ex-dividend date is Tuesday, November 19th. This represents a $0.72 dividend on an annualized basis and a dividend yield of 2.22%. Warner Music Group’s payout ratio is presently 86.75%.

Analyst Ratings Changes

Several analysts have commented on the stock. Deutsche Bank Aktiengesellschaft dropped their target price on shares of Warner Music Group from $42.00 to $36.00 and set a “buy” rating for the company in a research report on Tuesday, August 13th. Guggenheim restated a “buy” rating and set a $44.00 target price on shares of Warner Music Group in a research report on Friday, November 22nd. Macquarie reiterated a “neutral” rating and issued a $30.00 price target on shares of Warner Music Group in a research report on Friday, November 22nd. Loop Capital decreased their price objective on shares of Warner Music Group from $38.00 to $35.00 and set a “hold” rating for the company in a report on Monday. Finally, Evercore ISI cut their target price on shares of Warner Music Group from $40.00 to $36.00 and set an “outperform” rating on the stock in a report on Thursday, August 8th. Two investment analysts have rated the stock with a sell rating, four have issued a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $35.79.

Insider Activity at Warner Music Group

In other news, CEO Max Lousada sold 64,047 shares of the firm’s stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $28.25, for a total value of $1,809,327.75. Following the completion of the transaction, the chief executive officer now owns 2,909,422 shares in the company, valued at $82,191,171.50. This trade represents a 2.15 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In the last quarter, insiders have sold 628,205 shares of company stock valued at $17,628,757. 73.35% of the stock is owned by insiders.

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.