Mawer Investment Management Ltd. Sells 573,842 Shares of Tencent Music Entertainment Group Sponsored ADR $TME

Mawer Investment Management Ltd. trimmed its position in Tencent Music Entertainment Group Sponsored ADR (NYSE:TME) by 6.8% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 7,808,297 shares of the company’s stock after selling 573,842 shares during the quarter. Mawer Investment Management Ltd.’s holdings in Tencent Music Entertainment Group were worth $136,879,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in TME. Norges Bank acquired a new stake in Tencent Music Entertainment Group in the fourth quarter valued at approximately $94,360,000. Green Court Capital Management Ltd boosted its position in Tencent Music Entertainment Group by 467.2% in the fourth quarter. Green Court Capital Management Ltd now owns 5,893,162 shares of the company’s stock valued at $108,729,000 after buying an additional 4,854,084 shares in the last quarter. Sumitomo Mitsui Trust Group Inc. boosted its position in Tencent Music Entertainment Group by 312.3% in the fourth quarter. Sumitomo Mitsui Trust Group Inc. now owns 5,764,321 shares of the company’s stock valued at $101,049,000 after buying an additional 4,366,226 shares in the last quarter. Krane Funds Advisors LLC boosted its position in Tencent Music Entertainment Group by 25.4% in the third quarter. Krane Funds Advisors LLC now owns 19,020,641 shares of the company’s stock valued at $421,593,000 after buying an additional 3,856,410 shares in the last quarter. Finally, William Blair Investment Management LLC acquired a new stake in Tencent Music Entertainment Group in the third quarter valued at approximately $88,175,000. 24.32% of the stock is owned by institutional investors.

Tencent Music Entertainment Group Price Performance

TME stock opened at $9.51 on Tuesday. The firm has a market cap of $14.72 billion, a price-to-earnings ratio of 11.88, a PEG ratio of 0.60 and a beta of 0.81. The company has a quick ratio of 2.08, a current ratio of 2.09 and a debt-to-equity ratio of 0.06. Tencent Music Entertainment Group Sponsored ADR has a 12-month low of $8.44 and a 12-month high of $26.70. The company’s fifty day simple moving average is $9.34 and its 200 day simple moving average is $14.05.

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

Tencent Music Entertainment Group Increases Dividend

The company also recently announced an annual dividend, which was paid on Thursday, April 23rd. Investors of record on Thursday, April 2nd were issued a $0.24 dividend. The ex-dividend date was Thursday, April 2nd. This is a positive change from Tencent Music Entertainment Group’s previous annual dividend of $0.18. This represents a yield of 262.0%. Tencent Music Entertainment Group’s dividend payout ratio (DPR) is presently 28.75%.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on TME shares. Benchmark restated a “hold” rating on shares of Tencent Music Entertainment Group in a research report on Wednesday, March 18th. Morgan Stanley restated an “equal weight” rating on shares of Tencent Music Entertainment Group in a research report on Thursday, March 19th. Barclays cut their target price on shares of Tencent Music Entertainment Group from $28.00 to $20.00 and set an “overweight” rating on the stock in a research report on Thursday, March 19th. UBS Group restated a “neutral” rating and issued a $13.00 target price (down from $26.00) on shares of Tencent Music Entertainment Group in a research report on Wednesday, March 18th. Finally, Mizuho cut their price target on shares of Tencent Music Entertainment Group from $23.00 to $18.00 and set an “outperform” rating on the stock in a report on Wednesday, May 13th. Six research analysts have rated the stock with a Buy rating and eight have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $21.44.

Tencent Music Entertainment Group 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.