Warner Music Group Stock: What You Need to Know
Citigroup Inc. has reduced its stake in Warner Music Group Corp. (NASDAQ:WMG) by 73.2% during the 3rd quarter. The institutional investor now owns 52,486 shares of the company’s stock after selling 143,026 shares during the quarter.
Investor Activity
Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. For example, Nisa Investment Advisors LLC boosted its stake in Warner Music Group by 120.1% in the third quarter. Meanwhile, Farther Finance Advisors LLC increased its position in shares of Warner Music Group by 57.5% during the third quarter.
Stock Performance
Warner Music Group Corp. has a 12-month low of $25.56 and a 12-month high of $34.94. The company has a current ratio of 0.70, a quick ratio of 0.69, and a debt-to-equity ratio of 5.30. Additionally, the stock’s 50-day simple moving average is $29.62, and its 200-day simple moving average is $30.79.
However, the company’s revenue was up 10.4% on a year-over-year basis. Furthermore, Warner Music Group reported $0.33 EPS for the quarter, missing the consensus estimate of $0.40 by ($0.07). Therefore, it is essential to consider these factors when evaluating the stock’s performance.
Dividend Announcement
The firm recently disclosed a quarterly dividend, which was paid on Tuesday, March 3rd. Shareholders of record on Wednesday, February 18th were issued a $0.19 dividend. This represents a $0.76 dividend on an annualized basis and a yield of 2.7%.
In conclusion, Warner Music Group Corp. is a major global music company with a diverse portfolio of labels and distribution operations. While the company’s stock has experienced some volatility, its strong revenue growth and dividend yield make it an attractive option for investors.
For more information on Warner Music Group Corp., including its latest stock report and analyst ratings, please visit our website.
FAQs
- What is Warner Music Group Corp.’s current stock price? The current stock price is $27.84.
- What is the company’s dividend yield? The dividend yield is 2.7%.
- Who are the company’s main competitors? The company’s main competitors include other major music companies such as Universal Music Group and Sony Music Entertainment.
- What is the company’s revenue growth rate? The company’s revenue growth rate is 10.4% on a year-over-year basis.
- What is the focus keyword for this article? The focus keyword is Warner Music Group.
