Why Is Warner Music (WMG) Rising Today?

After this afternoon's 2.6% surge to $35.55 per share, Warner Music might just keep moving past its target price of $35.49. With an average analyst rating of buy, and target prices from $15.4 to $40.0, the stock's next move is anyone's guess.

The stock has an average amount of shares sold short at 3.8%, and a short ratio of 2.76. The company's insiders own 6.73% of its outstanding shares, which indicates a strong alignment between management and shareholder interests. Finally, we also note that a significant number of institutional investors are invested in the stock, with 91.9% of Warner Music's shares being owned by this investor type.

Institutions Invested in Warner Music

Date Reported Holder Percentage Shares Value
2023-09-30 FMR, LLC 11% 14,534,216 $516,691,367
2023-09-30 Vanguard Group Inc 8% 10,984,798 $390,509,560
2023-09-30 Capital World Investors 6% 7,667,939 $272,595,225
2023-09-30 Caledonia (Private) Investments Pty Ltd 4% 5,904,226 $209,895,229
2023-09-30 DARLINGTON PARTNERS CAPITAL MANAGEMENT, LP 4% 5,755,387 $204,604,003
2023-09-30 Blackrock Inc. 4% 5,513,990 $196,022,340
2023-09-30 Cooke & Bieler LP 3% 4,757,699 $169,136,195
2023-09-30 Citadel Advisors Llc 3% 3,847,777 $136,788,469
2023-09-30 Southeastern Asset Management Inc/TN/ 2% 3,452,105 $122,722,330
2023-09-30 Jackson Square Partners, Llc 2% 3,411,246 $121,269,792

Besides an analyst consensus of little upside potential, other market factors point to there being positive market sentiment on Warner Music.

The above analysis is intended for educational purposes only and was performed on the basis of publicly available data. It is not to be construed as a recommendation to buy or sell any security. Any buy, sell, or other recommendations mentioned in the article are direct quotations of consensus recommendations from the analysts covering the stock, and do not represent the opinions of Market Inference or its writers. Past performance, accounting data, and inferences about market position and corporate valuation are not reliable indicators of future price movements. Market Inference does not provide financial advice. Investors should conduct their own review and analysis of any company of interest before making an investment decision.