154,926 Shares in Tencent Music Entertainment Group Sponsored ADR $TME Bought by SEB Asset Management AB

SEB Asset Management AB acquired a new stake in Tencent Music Entertainment Group Sponsored ADR (NYSE:TME) during the 1st quarter, Holdings Channel reports. The fund acquired 154,926 shares of the company’s stock, valued at approximately $1,438,000.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of TME. Schroder Investment Management Group lifted its holdings in shares of Tencent Music Entertainment Group by 30.0% in the fourth quarter. Schroder Investment Management Group now owns 80,480,078 shares of the company’s stock worth $1,410,816,000 after acquiring an additional 18,554,567 shares during the last quarter. Vanguard Group Inc. grew its holdings in shares of Tencent Music Entertainment Group by 1.4% during the 4th quarter. Vanguard Group Inc. now owns 21,455,738 shares of the company’s stock valued at $376,119,000 after purchasing an additional 293,385 shares during the last quarter. Krane Funds Advisors LLC grew its holdings in shares of Tencent Music Entertainment Group by 5.4% during the 4th quarter. Krane Funds Advisors LLC now owns 20,047,192 shares of the company’s stock valued at $351,427,000 after purchasing an additional 1,026,551 shares during the last quarter. Cantillon Capital Management LLC increased its position in Tencent Music Entertainment Group by 1.4% during the 4th quarter. Cantillon Capital Management LLC now owns 18,708,502 shares of the company’s stock worth $327,960,000 after purchasing an additional 256,286 shares in the last quarter. Finally, Overlook Investments LP acquired a new position in Tencent Music Entertainment Group during the 4th quarter worth approximately $278,022,000. Institutional investors own 24.32% of the company’s stock.

Analyst Upgrades and Downgrades

TME has been the topic of a number of research analyst reports. Mizuho cut their target price on shares of Tencent Music Entertainment Group from $23.00 to $18.00 and set an “outperform” rating on the stock in a research report on Wednesday, May 13th. Weiss Ratings upgraded shares of Tencent Music Entertainment Group from a “hold (c-)” rating to a “hold (c)” rating in a report on Wednesday, July 1st. JPMorgan Chase & Co. cut their price objective on Tencent Music Entertainment Group from $12.00 to $10.00 and set a “neutral” rating on the stock in a report on Thursday, May 14th. Finally, Zacks Research upgraded Tencent Music Entertainment Group from a “strong sell” rating to a “hold” rating in a research report on Tuesday, May 19th. Six analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $21.44.

Tencent Music Entertainment Group Trading Down 0.2%

Shares of NYSE TME opened at $8.77 on Friday. The firm has a 50 day moving average price of $8.90 and a two-hundred day moving average price of $11.56. The stock has a market cap of $13.80 billion, a P/E ratio of 10.96, a price-to-earnings-growth ratio of 0.57 and a beta of 0.82. Tencent Music Entertainment Group Sponsored ADR has a 52-week low of $7.94 and a 52-week high of $26.70. The company has a debt-to-equity ratio of 0.06, a quick ratio of 2.08 and a current ratio of 2.09.

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

About Tencent Music Entertainment Group

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.