Deutsche Bank Aktiengesellschaft Cuts Warner Music Group (NASDAQ:WMG) Price Target to $36.00

Warner Music Group (NASDAQ:WMG) had its price objective cut by Deutsche Bank Aktiengesellschaft from $42.00 to $36.00 in a research report released on Tuesday, Benzinga reports. They currently have a buy rating on the stock.

Several other research firms have also recently weighed in on WMG. Jefferies Financial Group started coverage on Warner Music Group in a research note on Thursday, July 11th. They set a buy rating and a $38.00 target price for the company. Morgan Stanley started coverage on shares of Warner Music Group in a research report on Monday, May 6th. They set an overweight rating and a $43.00 price target on the stock. Wells Fargo & Company cut their price objective on shares of Warner Music Group from $37.00 to $34.00 and set an equal weight rating on the stock in a research report on Thursday, August 8th. Macquarie reaffirmed a neutral rating and issued a $32.00 price target on shares of Warner Music Group in a research report on Thursday, August 8th. Finally, Evercore ISI decreased their price objective 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. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and ten have assigned a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of Moderate Buy and a consensus price target of $37.19.

Warner Music Group Trading Up 1.1 %

NASDAQ WMG opened at $28.29 on Tuesday. The company has a market cap of $14.65 billion, a PE ratio of 28.29, a PEG ratio of 1.78 and a beta of 1.38. The company has a current ratio of 0.69, a quick ratio of 0.67 and a debt-to-equity ratio of 6.26. Warner Music Group has a 12 month low of $27.06 and a 12 month high of $38.05. The stock has a 50 day moving average of $30.12 and a 200-day moving average of $32.38.

Hedge Funds Weigh In On Warner Music Group

Hedge funds and other institutional investors have recently modified their holdings of the stock. Point72 Asset Management L.P. boosted its holdings in Warner Music Group by 87.1% in the fourth quarter. Point72 Asset Management L.P. now owns 2,713,747 shares of the company’s stock worth $97,125,000 after acquiring an additional 1,263,690 shares in the last quarter. Mackenzie Financial Corp purchased a new stake in shares of Warner Music Group during the fourth quarter valued at approximately $1,664,000. Bayesian Capital Management LP bought a new position in Warner Music Group in the 1st quarter valued at approximately $759,000. Norges Bank bought a new stake in shares of Warner Music Group in the 4th quarter worth $43,628,000. Finally, Acadian Asset Management LLC raised its stake in shares of Warner Music Group by 289.8% in the first quarter. Acadian Asset Management LLC now owns 92,930 shares of the company’s stock worth $3,066,000 after purchasing an additional 69,089 shares during the last quarter. 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.