Caesars Entertainment misses Q2 earnings expectations, shares edge lower
Timothy Matusch, the Executive Vice President of Strategy & Operations at Warner Music Group Corp. (NASDAQ:WMG), recently sold 1,000 shares of the company’s Class A common stock. The shares were sold at a price of $31.43 each, totaling $31,430. Following this transaction, Matusch holds 87,649 shares, which include restricted stock units.
In other recent news, Warner Music Group has been in the spotlight due to several significant developments. UBS analyst Batya Levi reaffirmed a Buy rating with a $41 price target, adjusting the company’s fiscal second-quarter revenue projections to $1.52 billion, a slight decrease from $1.53 billion but still marking a 2% year-over-year increase. FBN Securities initiated coverage with a Sector Perform rating and a $35 price target, highlighting the company’s potential in the music streaming sector amidst challenges in traditional revenue streams. Citi analysts upgraded Warner Music to a Buy rating, raising the price target to $42, reflecting optimism about new contracts with Spotify (NYSE:SPOT) that are expected to bolster revenue.
Moody’s upgraded WMG Acquisition Corp.’s corporate family rating to Ba1 from Ba2, citing positive trends in music streaming and operational improvements. This upgrade is backed by expectations of EBITDA growth in the mid to high single digits and a decrease in leverage by 2026. Additionally, Warner Music Group recently announced the election of its board of directors and the ratification of KPMG LLP as its independent auditor for fiscal year 2025. These developments reflect the company’s ongoing efforts to adapt to the evolving music industry landscape and strengthen its financial and operational standing.
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