Tencent Music Entertainment Group Sponsored ADR $TME Shares Purchased by SG Americas Securities LLC

SG Americas Securities LLC raised its stake in Tencent Music Entertainment Group Sponsored ADR (NYSE:TME) by 12.9% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 612,367 shares of the company’s stock after buying an additional 70,169 shares during the period. SG Americas Securities LLC’s holdings in Tencent Music Entertainment Group were worth $5,683,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds also recently modified their holdings of TME. Royal Bank of Canada grew its holdings in shares of Tencent Music Entertainment Group by 9.0% in the 1st quarter. Royal Bank of Canada now owns 144,475 shares of the company’s stock worth $2,082,000 after acquiring an additional 11,979 shares during the last quarter. AQR Capital Management LLC raised its holdings in Tencent Music Entertainment Group by 107.5% during the 1st quarter. AQR Capital Management LLC now owns 85,450 shares of the company’s stock worth $1,231,000 after buying an additional 44,265 shares during the period. Jones Financial Companies Lllp purchased a new stake in Tencent Music Entertainment Group during the first quarter valued at about $985,000. Acadian Asset Management LLC lifted its stake in Tencent Music Entertainment Group by 385,900.0% during the first quarter. Acadian Asset Management LLC now owns 50,180 shares of the company’s stock valued at $722,000 after buying an additional 50,167 shares in the last quarter. Finally, EverSource Wealth Advisors LLC boosted its holdings in shares of Tencent Music Entertainment Group by 83.0% in the second quarter. EverSource Wealth Advisors LLC now owns 3,005 shares of the company’s stock worth $59,000 after buying an additional 1,363 shares during the period. Institutional investors and hedge funds own 24.32% of the company’s stock.

Tencent Music Entertainment Group Trading Down 0.2%

NYSE:TME opened at $8.37 on Monday. The company has a debt-to-equity ratio of 0.06, a current ratio of 2.09 and a quick ratio of 2.08. Tencent Music Entertainment Group Sponsored ADR has a fifty-two week low of $7.94 and a fifty-two week high of $26.70. The stock’s 50-day moving average is $9.11 and its two-hundred day moving average is $12.77. The stock has a market cap of $13.18 billion, a PE ratio of 10.47, a price-to-earnings-growth ratio of 0.55 and a beta of 0.80.

Tencent Music Entertainment Group (NYSE:TME) last issued its earnings results on Tuesday, March 31st. The company reported $0.11 earnings per share for the quarter. The company had revenue of $1.15 billion for the quarter. Tencent Music Entertainment Group had a return on equity of 11.20% and a net margin of 26.45%. As a group, equities research analysts forecast that Tencent Music Entertainment Group Sponsored ADR will post 0.9 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on the stock. Zacks Research raised shares of Tencent Music Entertainment Group from a “strong sell” rating to a “hold” rating in a research report on Tuesday, May 19th. Mizuho reduced their price target on shares of Tencent Music Entertainment Group from $23.00 to $18.00 and set an “outperform” rating for the company in a research report on Wednesday, May 13th. JPMorgan Chase & Co. decreased their price objective on shares of Tencent Music Entertainment Group from $12.00 to $10.00 and set a “neutral” rating for the company in a research note on Thursday, May 14th. Benchmark reiterated a “hold” rating on shares of Tencent Music Entertainment Group in a research report on Wednesday, March 18th. Finally, Morgan Stanley reissued an “equal weight” rating on shares of Tencent Music Entertainment Group in a research note on Thursday, March 19th. Six investment analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $21.44.

Tencent Music Entertainment Group Company Profile

Tencent Music Entertainment Group (NYSE: TME) is a China-based digital music and audio entertainment platform that operates a portfolio of leading music streaming and social entertainment services. Its core consumer-facing products include streaming apps, online karaoke (KTV) services and live music and entertainment broadcasts. The company monetizes its content through a mix of subscriptions, digital music sales, in-app purchases, virtual gifting, advertising and licensing arrangements with rights holders.

The company traces its roots to the consolidation of Tencent’s music assets and was established in the mid-2010s to unify several prominent music properties under a single operating entity.