Warner Music Group Corp’s recent filing unveils that its CEO, Recorded Music Lousada Max unloaded Company’s shares for reported $7.04 million on Sep 11 ’24. In the deal valued at $28.09 per share,250,769 shares were sold. As a result of this transaction, Lousada Max now holds 2,039,002 shares worth roughly $66.06 million.
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Then, Lousada Max sold 428,834 shares, generating $12,007,352 in total proceeds. Upon selling the shares at $28.00, the CEO, Recorded Music now owns 2,289,771 shares.
Before that, Lousada Max sold 7,359 shares. Warner Music Group Corp shares valued at $207,818 were divested by the CEO, Recorded Music at a price of $28.24 per share. As a result of the transaction, Lousada Max now holds 2,718,605 shares, worth roughly $88.08 million.
BofA Securities downgraded its Warner Music Group Corp [WMG] rating to an Underperform from a a Neutral in a research note published on October 04, 2024; the price target was decreased to $30 from $33. A number of analysts have revised their coverage, including Wolfe Research’s analysts, who began to cover the stock in mid July with a ‘”an Outperform”‘ rating. Redburn Atlantic revised its rating on July 10, 2024. It rated WMG as “a Sell” which previously was an “a Neutral”.
Price Performance Review of WMG
On Tuesday, Warner Music Group Corp [NASDAQ:WMG] saw its stock jump 1.09% to $32.40. Over the last five days, the stock has lost -1.61%. Warner Music Group Corp shares have fallen nearly -9.47% since the year began. Nevertheless, the stocks have fallen -2.41% over the past one year. While a 52-week high of $38.05 was reached on 02/08/24, a 52-week low of $27.06 was recorded on 08/05/24. SMA at 50 days reached $31.86, while 200 days put it at $31.63.
Levels Of Support And Resistance For WMG Stock
The 24-hour chart illustrates a support level at 32.09, which if violated will result in even more drops to 31.78. On the upside, there is a resistance level at 32.61. A further resistance level may holdings at 32.82. The Relative Strength Index (RSI) on the 14-day chart is 50.93, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at -0.65, which suggests price will go down in the next trading period. Percent R suggests that price movement has been low at 42.45%. Stochastics %K at 50.47% indicates the stock is a holding.
How much short interest is there in Warner Music Group Corp?
A steep rise in short interest was recorded in Warner Music Group Corp stocks on 2024-10-31, dropping by -3.26 million shares to a total of 9.8 million shares. Yahoo Finance data shows the prior-month short interest on 2024-09-30 was 13.06 million shares. There was a decline of -33.3%, which implies that there is a negative sentiment for the stock.
