Warner Music Group Corp’s filing revealed that its Director Benet Lincoln E unloaded Company’s shares for reported $2.6 million on Feb 15 ’24. In the deal valued at $36.12 per share,71,981 shares were sold. As a result of this transaction, Benet Lincoln E now holds 277,360 shares worth roughly $9.34 million.
Then, Lousada Max sold 869,008 shares, generating $28,990,107 in total proceeds. Upon selling the shares at $33.36, the CEO, Recorded Music now owns 1,883,578 shares.
Redburn Atlantic upgraded its Warner Music Group Corp [WMG] rating to a Neutral from a a Sell in a research note published on February 05, 2024; the price target was increased to $21 from $17. A number of analysts have revised their coverage, including Wells Fargo’s analysts, who began to cover the stock in mid November with a ‘”an Equal weight”‘ rating. UBS also remained covering WMG and has increased its forecast on October 03, 2023 with a “Buy” recommendation from previously “Neutral” rating. TD Cowen started covering the stock on July 25, 2023. It rated WMG as “an Outperform”.
Price Performance Review of WMG
On Tuesday, Warner Music Group Corp [NASDAQ:WMG] saw its stock jump 0.60% to $33.66. Over the last five days, the stock has lost -4.38%. Warner Music Group Corp shares have fallen nearly -5.95% since the year began. Nevertheless, the stocks have risen 7.33% over the past one year. While a 52-week high of $38.05 was reached on 02/08/24, a 52-week low of $23.62 was recorded on 03/22/24. SMA at 50 days reached $34.36, while 200 days put it at $33.11. A total of 1.09 million shares were traded, compared to the trading of 1.07 million shares in the previous session.
Levels Of Support And Resistance For WMG Stock
The 24-hour chart illustrates a support level at 33.14, which if violated will result in even more drops to 32.61. On the upside, there is a resistance level at 33.96. A further resistance level may holdings at 34.25. The Relative Strength Index (RSI) on the 14-day chart is 48.16, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at -0.32, which suggests price will go down in the next trading period. Percent R suggests that price movement has been low at 50.15%. Stochastics %K at 45.71% indicates the stock is a holding.
The most recent change occurred on June 29, 2023 when UBS began covering the stock and recommended ‘”a Neutral”‘ rating along with a $29 price target.
