(MENAFN- Investor Brand Network) Warner Music Group Corp. (NASDAQ:WMG) traded today at a new 52-week high of $47.23. This new high was reached on below average trading volume as 150,000 shares traded hands, while the average 30-day volume is approximately 1.1 million shares.
Warner Music Group is the third largest of the three major global record labels, with Vivendi’s Universal Music in first and Sony Music in second. Warner’s larger segment, recorded music, consists of iconic labels like Atlantic Records, Warner Records, and Parlophone Records and popular artists such as Ed Sheeran, Cardi B, Dua Lipa, and Blake Shelton. Warner Chappell, the firm’s publishing arm, is the home to over 65,000 composers and songwriters with over a million copyrights represented. Warner is controlled by Access Industries, which owns an 84% economic interest and 99% of voting rights.
Potential upside of 980.2% exists for Warner Music Group Corp., based on a current level of $46.66 and analysts’ average consensus price target of $503.98.
Warner Music Group Corp. share prices have moved between a 52-week high of $47.23 and a 52-week low of $25.61 and are now trading 82% above that low price at $46.66 per share.
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