Barclays Cuts Warner Music Group (NASDAQ:WMG) Price Target to $31.00

Warner Music Group (NASDAQ:WMG) had its price objective lowered by Barclays from $32.00 to $31.00 in a research note issued to investors on Friday,Benzinga reports. The firm presently has an “equal weight” rating on the stock. Barclays‘s price target would indicate a potential downside of 2.67% from the stock’s current price.

A number of other equities analysts have also recently commented on WMG. Evercore ISI dropped their price target on shares of Warner Music Group from $40.00 to $36.00 and set an “outperform” rating for the company in a research note on Thursday, August 8th. Tigress Financial decreased their price objective on shares of Warner Music Group from $52.00 to $44.00 and set a “buy” rating for the company in a report on Thursday, September 12th. Bank of America reiterated an “underperform” rating and set a $30.00 price objective (down previously from $33.00) on shares of Warner Music Group in a report on Friday, October 4th. Deutsche Bank Aktiengesellschaft decreased their price objective on shares of Warner Music Group from $42.00 to $36.00 and set a “buy” rating for the company in a report on Tuesday, August 13th. Finally, Macquarie decreased their price objective on shares of Warner Music Group from $32.00 to $30.00 and set a “neutral” rating for the company in a report on Friday, October 11th. 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 company. According to data from MarketBeat, Warner Music Group has a consensus rating of “Hold” and a consensus price target of $36.00.

Warner Music Group Price Performance

WMG stock opened at $31.85 on Friday. Warner Music Group has a 12 month low of $27.06 and a 12 month high of $38.05. The company has a current ratio of 0.68, a quick ratio of 0.67 and a debt-to-equity ratio of 5.95. The company has a 50-day moving average price of $31.78 and a 200 day moving average price of $30.65. The stock has a market cap of $16.50 billion, a PE ratio of 38.37, a P/E/G ratio of 0.97 and a beta of 1.37.

Insider Buying and Selling

In other Warner Music Group news, CEO Max Lousada sold 135,324 shares of the business’s stock in a transaction that occurred on Thursday, September 5th. The shares were sold at an average price of $28.17, for a total transaction of $3,812,077.08. Following the sale, the chief executive officer now owns 2,725,964 shares of the company’s stock, valued at approximately $76,790,405.88. The trade was a 4.73 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders sold a total of 628,205 shares of company stock worth $17,628,757 in the last 90 days. 73.35% of the stock is owned by corporate insiders.

Institutional Trading of Warner Music Group

Several large investors have recently bought and sold shares of WMG. Vanguard Group Inc. grew its position in Warner Music Group by 1.6% during the 1st quarter. Vanguard Group Inc. now owns 11,861,877 shares of the company’s stock worth $391,679,000 after purchasing an additional 192,215 shares during the last quarter. O Shaughnessy Asset Management LLC boosted its holdings in shares of Warner Music Group by 6.3% in the 1st quarter. O Shaughnessy Asset Management LLC now owns 13,141 shares of the company’s stock valued at $434,000 after acquiring an additional 773 shares during the last quarter. Advisors Asset Management Inc. purchased a new stake in shares of Warner Music Group in the 1st quarter valued at $523,000. Aristides Capital LLC purchased a new stake in shares of Warner Music Group in the 1st quarter valued at $229,000. Finally, Bayesian Capital Management LP purchased a new stake in shares of Warner Music Group in the 1st quarter valued at $759,000. Hedge funds and other institutional investors own 96.88% of the company’s stock.

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.