In a report released yesterday, Ivan Feinseth from Tigress Financial reiterated a Buy rating on Warner Music Group (WMG). The company’s shares closed last Monday at $29.66.
According to TipRanks.com, Feinseth is a top 100 analyst with an average return of 18.6% and a 69.0% success rate. Feinseth covers the Technology sector, focusing on stocks such as Microsoft, Facebook, and Alphabet.
Currently, the analyst consensus on Warner Music Group is a Moderate Buy with an average price target of $33.86.
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Based on Warner Music Group’s latest earnings release for the quarter ending June 30, the company reported a quarterly revenue of $1.01 billion and GAAP net loss of $520 million. In comparison, last year the company earned revenue of $1.06 billion and had a net profit of $13 million.
Based on the recent corporate insider activity of 9 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of WMG in relation to earlier this year.
TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.
With about $3.5 billion in revenue, Warner Music Group is one of the largest music companies in the world. More than 80% of Warner’s revenue comes from recorded music, while the remainder is generated from music publishing.
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