OneDigital Investment Advisors LLC Takes Position in Warner Music Group Corp. (NASDAQ:WMG)

OneDigital Investment Advisors LLC purchased a new position in shares of Warner Music Group Corp. (NASDAQ:WMG) during the third quarter, HoldingsChannel.com reports. The institutional investor purchased 7,886 shares of the company’s stock, valued at approximately $247,000.

Several other institutional investors have also recently bought and sold shares of WMG. Benjamin Edwards Inc. lifted its position in shares of Warner Music Group by 74.5% during the second quarter. Benjamin Edwards Inc. now owns 953 shares of the company’s stock worth $29,000 after purchasing an additional 407 shares in the last quarter. OmniStar Financial Group Inc. lifted its holdings in Warner Music Group by 2.2% during the 2nd quarter. OmniStar Financial Group Inc. now owns 19,812 shares of the company’s stock worth $607,000 after buying an additional 420 shares in the last quarter. Sage Rhino Capital LLC boosted its position in Warner Music Group by 2.8% in the 2nd quarter. Sage Rhino Capital LLC now owns 17,548 shares of the company’s stock valued at $538,000 after buying an additional 473 shares during the last quarter. New York State Teachers Retirement System increased its stake in shares of Warner Music Group by 3.2% in the 3rd quarter. New York State Teachers Retirement System now owns 20,743 shares of the company’s stock valued at $649,000 after buying an additional 643 shares during the period. Finally, O Shaughnessy Asset Management LLC raised its position in shares of Warner Music Group by 6.3% during the first quarter. O Shaughnessy Asset Management LLC now owns 13,141 shares of the company’s stock worth $434,000 after acquiring an additional 773 shares during the last quarter. Institutional investors own 96.88% of the company’s stock.

Warner Music Group Stock Performance

Shares of WMG stock opened at $31.85 on Friday. The company has a market capitalization of $16.50 billion, a P/E ratio of 30.63, a price-to-earnings-growth ratio of 1.06 and a beta of 1.37. Warner Music Group Corp. has a 52 week low of $27.06 and a 52 week high of $38.05. The company has a debt-to-equity ratio of 6.26, a quick ratio of 0.67 and a current ratio of 0.69. The company’s 50 day moving average price is $31.78 and its two-hundred day moving average price is $30.68.

Warner Music Group Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 3rd. Investors of record on Tuesday, November 19th will be paid a $0.18 dividend. This represents a $0.72 dividend on an annualized basis and a yield of 2.26%. The ex-dividend date of this dividend is Tuesday, November 19th. Warner Music Group’s payout ratio is presently 69.23%.

Analyst Ratings Changes

Several research analysts have recently issued reports on WMG shares. Bank of America reaffirmed an “underperform” rating and issued a $30.00 target price (down previously from $33.00) on shares of Warner Music Group in a research note on Friday, October 4th. Evercore ISI lowered their target price on shares of Warner Music Group from $40.00 to $36.00 and set an “outperform” rating for the company in a report on Thursday, August 8th. Deutsche Bank Aktiengesellschaft cut their price target on Warner Music Group from $42.00 to $36.00 and set a “buy” rating on the stock in a research note on Tuesday, August 13th. Tigress Financial decreased their price objective on Warner Music Group from $52.00 to $44.00 and set a “buy” rating for the company in a research note on Thursday, September 12th. Finally, Wells Fargo & Company cut their target price on Warner Music Group from $37.00 to $34.00 and set an “equal weight” rating on the stock in a research note on Thursday, August 8th. Two investment analysts have rated the stock with a sell rating, four have given a hold rating and eight have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $36.00.

Insider Buying and Selling

In other Warner Music Group news, CEO Max Lousada sold 428,834 shares of Warner Music Group stock in a transaction on Tuesday, September 10th. The shares were sold at an average price of $28.00, for a total value of $12,007,352.00. Following the sale, the chief executive officer now directly owns 2,289,771 shares in the company, valued at approximately $64,113,588. The trade was a 15.77 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In the last ninety days, insiders sold 628,205 shares of company stock valued at $17,628,757. Company insiders own 73.35% of the company’s stock.

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.