5 Best Music Stocks to Buy Now

In this piece, we will take a look at the five best music stocks to buy. For more stocks, head on over to 10 Best Music Stocks to Buy.

5. iHeartMedia, Inc. (NASDAQ:IHRT)

Number of Hedge Fund Investors In Q4 2022: 27

iHeartMedia, Inc. (NASDAQ:IHRT) is an American firm headquartered in San Antonio, Texas. It has several different music services in its portfolio. These include radio stations, radio channels, customized artist stations, music scheduling, and services to record labels and other music companies.

Insider Monkey’s fourth quarter of 2022 survey covering 943 hedge funds revealed that 27 had held a stake in the company. Out of these, Edward A. Mule’s Silver Point Capital is iHeartMedia, Inc. (NASDAQ:IHRT)’s largest shareholder since it owns 5.5 million shares that are worth $33 million.

4. Sony Group Corporation (NYSE:SONY)

Number of Hedge Fund Investors In Q4 2022: 28

Sony Group Corporation (NYSE:SONY) is a Japanese firm that owns one of the largest record labels in the world, Sony Music Entertainment, which is managed by its American division. Sony Music has dozens of music labels all over the world and is one of the older music companies that traces its roots back to 1929.

As of Q4 2022, 28 of the 943 hedge funds part of Insider Monkey’s database had bought Sony Group Corporation (NYSE:SONY)’s shares. Out of these, Ken Fisher’s Fisher Asset Management is the firm’s largest investor as it owns five million shares that are worth $384 million.

3. NetEase, Inc. (NASDAQ:NTES)

Number of Hedge Fund Investors In Q4 2022: 31

NetEase, Inc. (NASDAQ:NTES) is a Chinese company headquartered in Hangzhou, China. It has a cloud music streaming division called Cloud Music, which has tens of millions of songs and hundreds of thousands of music items in its portfolio.

Insider Monkey dug through 943 hedge fund portfolios for 2022’s December quarter and found out that 31 had held a stake in NetEase, Inc. (NASDAQ:NTES). Out of these, William B. Gray’s Orbis Investment Management is the firm’s largest investor since it owns 4.6 million shares that are worth $334 million.

2. Warner Music Group Corp. (NASDAQ:WMG)

Number of Hedge Fund Investors In Q4 2022: 34

Warner Music Group Corp. (NASDAQ:WMG) is one of the largest music companies in the world. It owns dozens of record labels all over the world and is also one of the biggest music publishing companies. Warner Music Group Corp. (NASDAQ:WMG) is headquartered in New York, New York.

34 of the 943 hedge funds profiled by Insider Monkey for last year’s fourth quarter had bought Warner Music Group Corp. (NASDAQ:WMG)’s shares. The firm’s largest investor is Scott W. Clark’s Darlington Partners Capital which owns 4.4 million shares that are worth $156 million.

1. Spotify Technology S.A. (NYSE:SPOT)

Number of Hedge Fund Investors In Q4 2022: 46

Spotify Technology S.A. (NYSE:SPOT) is one of the largest music streaming companies in the world, with hundreds of millions of subscribers.

Insider Monkey’s Q4 2022 survey of 943 hedge funds revealed that 28 had invested in Spotify Technology S.A. (NYSE:SPOT). The firm’s largest investor is Josh Overdeck and David Siegel’s Two Sigma Advisors which owns one million shares worth $86 million.

Disclosure: None. You can also take a look at 15 Best States To Live In: 2023 Rankings and 11 Best Stocks to Buy on Robinhood for Beginners.

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