Ai Entertainment Holdings Llc sells 4,160,745 shares of Warner Music Group Corp. (NASDAQ: WMG)


The main shareholder of Warner Music Group Corp. (NASDAQ: WMG), Ai Entertainment Holdings Llc, sold 4,160,745 shares in a trade dated Wednesday, December 8. The shares were sold at an average price of $ 41.25, for a total trade of $ 171,630,731.25. The sale was disclosed in a file with the Securities & Exchange Commission, accessible via the SEC website. Major shareholders who own 10% or more of a company’s stock are required to disclose their sales and purchases to the SEC.

Ai Entertainment Holdings Llc also recently completed the following transactions:

  • On Friday, September 24, Ai Entertainment Holdings Llc sold 2,330,259 Warner Music Group shares. The stock was sold for an average price of $ 43.73, for a total trade of $ 101,902,226.07.

WMG lost $ 0.30 in Friday’s session, hitting $ 40.81. The stock had a trading volume of 810,544 shares, compared to its average volume of 826,065. The company has a market cap of $ 21.00 billion, a PE ratio of 71.60, a PEG ratio of 1 , 14 and a beta of 1.01. Warner Music Group Corp. has a twelve month low of $ 31.50 and a twelve month high of $ 50.23. The company has a debt ratio of 72.74, a rapid ratio of 0.57, and a current ratio of 0.60. The stock has a 50-day simple moving average of $ 45.65 and a 200-day simple moving average of $ 40.18.

Warner Music Group (NASDAQ: WMG) last released its quarterly profit data on Monday, November 15. The company reported EPS of $ 0.05 for the quarter, missing the Thomson Reuters consensus estimate of $ 0.15 ($ 0.10). Warner Music Group reported a return on equity of 830.77% and a net margin of 5.73%. The company posted revenue of $ 1.38 billion for the quarter, compared to analysts’ estimates of $ 1.36 billion. In the same quarter of the previous year, the company posted earnings per share of $ 0.02. The company’s quarterly revenue grew 22.2% year-over-year. On average, equity research analysts predict Warner Music Group Corp. will show 1.04 EPS for the current year.

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The company also recently disclosed a quarterly dividend, which was paid on Wednesday, December 1. Shareholders of record on Tuesday, November 23 received a dividend of $ 0.15 per share. The ex-dividend date was Monday, November 22. This represents an annualized dividend of $ 0.60 and a dividend yield of 1.47%. Warner Music Group’s payout ratio is currently 105.27%.

Several large investors have recently bought and sold shares in the company. FMR LLC increased its equity stake in Warner Music Group by 162.2% during the second quarter. FMR LLC now owns 6,355,360 shares of the company valued at $ 229,047,000 after purchasing an additional 3,931,904 shares during the last quarter. Lansdowne Partners UK LLP purchased a new position in shares of Warner Music Group during the second quarter for a value of $ 43,920,000. Morgan Stanley increased its holdings of Warner Music Group shares by 62.2% in the third quarter. Morgan Stanley now owns 1,928,977 shares of the company valued at $ 82,444,000 after purchasing an additional 739,735 shares during the last quarter. Vanguard Group Inc. increased its holdings of Warner Music Group shares by 8.9% in the second quarter. Vanguard Group Inc. now owns 8,013,835 shares of the company valued at $ 288,818,000 after purchasing an additional 653,416 shares in the last quarter. Finally, Two Sigma Investments LP increased its equity stake in Warner Music Group by 5,568.1% during the third quarter. Two Sigma Investments LP now owns 546,806 shares of the company valued at $ 23,370,000 after purchasing an additional 556,806 shares during the last quarter. Institutional investors and hedge funds hold 16.91% of the company’s shares.

A number of equity analysts recently commented on the stock. Citigroup raised its target price on Warner Music Group shares from $ 48.00 to $ 49.00 and rated the stock “neutral” in a research report released on Friday, November 19. Zacks investment research downgraded Warner Music Group shares from a “hold” rating to a “sell” rating in a research report Thursday. Tigress Financial raised its price target for Warner Music Group shares from $ 42.00 to $ 48.00 and gave the company a “buy” rating in a report released on Tuesday, August 17. Barclays Downgraded Warner Music Group Shares From ‘Equal Weight’ To ‘Overweight’ Rating And Raised Its Price Target For The Company From $ 38.00 To $ 48.00 In Released Report Thursday September 23. Finally, Loop Capital raised its price target on Warner Music Group shares from $ 37.00 to $ 45 and gave the company a “hold” rating in a report released on Tuesday, November 16. Three research analysts rated the stock with a sell rating, three issued a conservation rating, and seven issued a buy rating for the stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $ 48.33.

About Warner Music Group

Warner Music Group Corp. operates as a music entertainment company in the US, UK and overseas. The company operates through the recorded music and music publishing segments. The Recorded Music segment is involved in the discovery and development of recording artists, as well as the related marketing, promotion, distribution, sale and licensing of music created by these artists.

Further reading: Why is the company buying back its shares?

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