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Warner Music Group Corp. (NASDAQ:WMG) Short Interest Update

todayNovember 30, 2023 4

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Warner Music Group Corp. (NASDAQ:WMG – Get Free Report) was the recipient of a significant decrease in short interest during the month of November. As of November 15th, there was short interest totalling 3,320,000 shares, a decrease of 37.5% from the October 31st total of 5,310,000 shares. Based on an average trading volume of 1,270,000 shares, the short-interest ratio is currently 2.6 days.

Warner Music Group Stock Down 0.5 %

NASDAQ WMG opened at $32.74 on Thursday. The stock’s 50-day moving average price is $32.10 and its 200-day moving average price is $30.20. The company has a quick ratio of 0.64, a current ratio of 0.68 and a debt-to-equity ratio of 9.22. Warner Music Group has a 52 week low of $23.62 and a 52 week high of $38.76. The company has a market capitalization of $16.89 billion, a P/E ratio of 40.42, a price-to-earnings-growth ratio of 1.60 and a beta of 1.56.

Warner Music Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 1st. Stockholders of record on Tuesday, November 21st will be paid a $0.17 dividend. This represents a $0.68 annualized dividend and a dividend yield of 2.08%. The ex-dividend date is Monday, November 20th. Warner Music Group’s dividend payout ratio (DPR) is currently 83.95%.

Wall Street Analysts Forecast Growth

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A number of equities research analysts have recently commented on WMG shares. Jefferies Financial Group cut their target price on Warner Music Group from $37.00 to $35.00 and set a “buy” rating on the stock in a research note on Friday, September 22nd. Barclays reaffirmed an “equal weight” rating and set a $33.00 price target on shares of Warner Music Group in a report on Thursday, September 21st. Truist Financial reaffirmed a “buy” rating and set a $37.00 price target on shares of Warner Music Group in a report on Thursday, September 21st. UBS Group raised Warner Music Group from a “neutral” rating to a “buy” rating and upped their price target for the company from $34.00 to $37.00 in a report on Tuesday, October 3rd. Finally, Deutsche Bank Aktiengesellschaft upped their price target on Warner Music Group from $36.00 to $40.00 and gave the company a “buy” rating in a report on Wednesday, August 9th. Four equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $37.19.

Get Our Latest Stock Report on WMG

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the stock. Acadian Asset Management LLC bought a new position in shares of Warner Music Group in the first quarter worth about $26,000. Ossiam raised its stake in shares of Warner Music Group by 31.1% in the first quarter. Ossiam now owns 1,787 shares of the company’s stock worth $60,000 after buying an additional 424 shares during the period. Ramirez Asset Management Inc. bought a new position in shares of Warner Music Group in the third quarter worth about $75,000. Sunbelt Securities Inc. bought a new position in shares of Warner Music Group in the second quarter worth about $125,000. Finally, State of Wyoming grew its position in shares of Warner Music Group by 20.4% during the fourth quarter. State of Wyoming now owns 3,913 shares of the company’s stock worth $137,000 after purchasing an additional 664 shares in the last quarter. Institutional investors own 23.23% of the company’s stock.

Warner Music Group Company Profile

(Get Free Report)

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.

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Written by: Soft FM Radio Staff

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