Fintel reports that on May 11, 2023, Goldman Sachs maintained coverage of Warner Music Group Corp – (NASDAQ:WMG) with a Buy recommendation.

Analyst Price Forecast Suggests 39.03% Upside

As of May 11, 2023, the average one-year price target for Warner Music Group Corp – is 35.94. The forecasts range from a low of 28.28 to a high of $54.60. The average price target represents an increase of 39.03% from its latest reported closing price of 25.85.

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The projected annual revenue for Warner Music Group Corp – is 6,262MM, an increase of 7.67%. The projected annual non-GAAP EPS is 1.08.

What is the Fund Sentiment?

There are 422 funds or institutions reporting positions in Warner Music Group Corp -. This is an increase of 36 owner(s) or 9.33% in the last quarter. Average portfolio weight of all funds dedicated to WMG is 0.43%, an increase of 20.03%. Total shares owned by institutions decreased in the last three months by 0.92% to 146,587K shares. The put/call ratio of WMG is 0.28, indicating a bullish outlook.

What are Other Shareholders Doing?

Sands Capital Management holds 10,674K shares representing 2.07% ownership of the company. In it’s prior filing, the firm reported owning 11,166K shares, representing a decrease of 4.60%. The firm increased its portfolio allocation in WMG by 45.21% over the last quarter.

Caledonia (Private) Investments Pty holds 6,259K shares representing 1.21% ownership of the company. In it’s prior filing, the firm reported owning 6,919K shares, representing a decrease of 10.56%. The firm increased its portfolio allocation in WMG by 23.67% over the last quarter.

Capital World Investors holds 4,815K shares representing 0.93% ownership of the company. In it’s prior filing, the firm reported owning 4,812K shares, representing an increase of 0.06%. The firm increased its portfolio allocation in WMG by 43.34% over the last quarter.

Darlington Partners Capital Management holds 4,478K shares representing 0.87% ownership of the company. In it’s prior filing, the firm reported owning 6,665K shares, representing a decrease of 48.83%. The firm increased its portfolio allocation in WMG by 11.76% over the last quarter.

Jackson Square Partners holds 4,016K shares representing 0.78% ownership of the company. In it’s prior filing, the firm reported owning 3,817K shares, representing an increase of 4.97%. The firm increased its portfolio allocation in WMG by 1.71% over the last quarter.

Warner Music Group Background Information
(This description is provided by the company.)

With a legacy extending back over 200 years, Warner Music Group (WMG) today brings together artists, songwriters and entrepreneurs that are moving entertainment culture across the globe. Operating in more than 70 countries through a network of affiliates and licensees, WMG’s Recorded Music division includes renowned labels such as Asylum, Atlantic, Big Beat, Canvasback, Elektra, Erato, First Night, Fueled by Ramen, Nonesuch, Parlophone, Reprise, Rhino, Roadrunner, Sire, Spinnin’, Warner Records, Warner Classics and Warner Music Nashville. WMG’s music publishing arm, Warner Chappell Music, has a catalog of more than 1.4 million musical compositions spanning every musical genre, from the standards of the Great American Songbook to the biggest hits of the 21st century. Warner Music Group is also home to ADA, the independent artist and label services company, as well as consumer brands such as Songkick, the live music app; EMP, the merchandise e-tailer; and UPROXX, the youth culture destination.

See all Warner Music Group Corp – regulatory filings.

This article originally appeared on Fintel

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