Warner Music Group Corp. (NASDAQ: WMG) Major shareholder Ai Entertainment Holdings Llc sells 4,356,680 shares


The main shareholder of Warner Music Group Corp. (NASDAQ: WMG), Ai Entertainment Holdings Llc, sold 4,356,680 shares of the company in a trade on Thursday, January 6. The stock was sold for an average price of $ 40.66, for a total value of $ 177,142,608.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Large 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 Wednesday, December 8, Ai Entertainment Holdings Llc sold 4,160,745 shares of Warner Music Group. The stock was sold for an average price of $ 41.25, for a total value of $ 171,630,731.25.

NASDAQ WMG shares traded up $ 0.03 on Friday, reaching $ 39.92. 904,574 shares of the company were traded in the hands, compared to its average volume of 2,472,175. Warner Music Group Corp. has a 12-month low of $ 31.50 and a 12-month high of $ 50.23. The company’s 50-day simple moving average is $ 43.84 and its two-hundred-day simple moving average is $ 41.11. The company has a market cap of $ 20.54 billion, a price / earnings ratio of 69.98, a price / earnings-growth ratio of 1.16, and a beta of 0.98. The company has a quick ratio of 0.57, a current ratio of 0.60, and a debt ratio of 72.74.

Warner Music Group (NASDAQ: WMG) last reported its quarterly results on Monday, November 15. The company reported earnings per share of $ 0.05 for the quarter, missing the Thomson Reuters consensus estimate of $ 0.15 ($ 0.10). The company posted revenue of $ 1.38 billion for the quarter, compared to a consensus estimate of $ 1.36 billion. Warner Music Group had a net margin of 5.73% and a return on equity of 830.77%. Warner Music Group revenue increased 22.2% year-over-year. During the same period last year, the company made EPS of $ 0.02. Analysts predict that Warner Music Group Corp. will post earnings per share of 1.03 for the current fiscal year.

(A d)

This guide will help you identify and execute an options trading strategy that matches your specific needs and risk profile.

Take your trading to the next level with the Options Strategy Guide.

The company also recently announced a quarterly dividend, which was paid on Wednesday, December 1. Investors of record on Tuesday, November 23 received a dividend of $ 0.15. This represents an annualized dividend of $ 0.60 and a return of 1.50%. The ex-dividend date of this dividend was Monday, November 22. Warner Music Group’s dividend payout ratio is currently 105.27%.

WMG has been the subject of several recent research reports. Credit Suisse Group raised its price target on Warner Music Group from $ 48.00 to $ 50.00 and gave the stock an “outperformance” rating in a research report published on Friday, November 26. Barclays downgraded Warner Music Group from “on par” to “overweight” rating and raised its price target for the company from $ 38.00 to $ 48.00 in a report released Thursday, September 23 . Loop Capital raised its price target on Warner Music Group from $ 37.00 to $ 45 and gave the stock a “hold” rating in a research report published on Tuesday, November 16. Citigroup raised its price target on Warner Music Group from $ 48.00 to $ 49.00 and rated the stock “neutral” in a report released on Friday, November 19. Finally, Tigress Financial raised its target price on Warner Music Group from $ 48.00 to $ 52.00 and gave the stock a “buy” rating in a research note on Wednesday, December 22. Two analysts gave the stock a sell rating, three assigned a conservation rating, and eight gave the company a buy rating. According to data from MarketBeat.com, Warner Music Group currently has an average “Hold” rating and a consensus target price of $ 49.58.

Hedge funds recently changed their holdings of stocks. FMR LLC increased its stake in the shares of Warner Music Group by 162.2% during the 2nd quarter. FMR LLC now owns 6,355,360 shares of the company valued at $ 229,047,000 after acquiring an additional 3,931,904 shares during the last quarter. Lansdowne Partners UK LLP purchased a new position in Warner Music Group shares during the second quarter for a value of $ 43,920,000. Morgan Stanley raised its stake in Warner Music Group shares from 62.2% during the 3rd 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 stake in the shares of Warner Music Group by 8.9% during the 2nd 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 stake in the shares of 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 in the last quarter. Institutional investors hold 16.91% of the company’s shares.

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.

Read more: Which sectors are represented in the Nikkei index?

This instant news alert was powered by storytelling technology and financial data from MarketBeat to provide readers with the fastest, most accurate reports. This story was reviewed by the MarketBeat editorial team before publication. Please send any questions or comments about this story to [email protected]

Should You Invest $ 1,000 In Warner Music Group Now?

Before you consider Warner Music Group, you’ll want to hear this.

MarketBeat tracks Wall Street’s top-rated and top-performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat identified the five stocks that top analysts quietly whisper to their clients to buy now before the broader market takes hold … and Warner Music Group was not on the list.

While Warner Music Group currently has a “Buy” rating among analysts, top-rated analysts believe these five stocks are better bets.

See the 5 actions here


Comments are closed.