Krane Funds Advisors LLC Has $421.59 Million Holdings in Tencent Music Entertainment Group Sponsored ADR $TME

Krane Funds Advisors LLC raised its stake in shares of Tencent Music Entertainment Group Sponsored ADR (NYSE:TME) by 25.4% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 19,020,641 shares of the company’s stock after acquiring an additional 3,856,410 shares during the period. Tencent Music Entertainment Group comprises approximately 11.8% of Krane Funds Advisors LLC’s investment portfolio, making the stock its 2nd largest holding. Krane Funds Advisors LLC owned 1.11% of Tencent Music Entertainment Group worth $421,593,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also recently made changes to their positions in TME. Smartleaf Asset Management LLC bought a new position in shares of Tencent Music Entertainment Group during the third quarter valued at about $31,000. Global Retirement Partners LLC increased its stake in Tencent Music Entertainment Group by 1,326.5% in the 3rd quarter. Global Retirement Partners LLC now owns 1,883 shares of the company’s stock valued at $44,000 after buying an additional 1,751 shares during the last quarter. Jones Financial Companies Lllp boosted its stake in shares of Tencent Music Entertainment Group by 137.4% in the 3rd quarter. Jones Financial Companies Lllp now owns 2,414 shares of the company’s stock worth $57,000 after buying an additional 1,397 shares during the last quarter. EverSource Wealth Advisors LLC boosted its stake in shares of Tencent Music Entertainment Group by 83.0% in the 2nd 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 last quarter. Finally, MAI Capital Management bought a new position in shares of Tencent Music Entertainment Group in the second quarter valued at approximately $73,000. Institutional investors own 24.32% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have weighed in on TME shares. Benchmark cut their price objective on Tencent Music Entertainment Group from $28.00 to $25.00 and set a “buy” rating on the stock in a research report on Thursday, November 13th. Morgan Stanley cut their price target on shares of Tencent Music Entertainment Group from $27.50 to $25.00 and set an “overweight” rating on the stock in a report on Monday, December 22nd. Wall Street Zen lowered shares of Tencent Music Entertainment Group from a “buy” rating to a “hold” rating in a research report on Saturday, November 8th. Barclays lifted their price objective on shares of Tencent Music Entertainment Group from $27.00 to $28.00 and gave the stock an “overweight” rating in a research report on Wednesday, November 12th. Finally, Bank of America assumed coverage on shares of Tencent Music Entertainment Group in a research report on Tuesday, October 28th. They set a “neutral” rating and a $25.00 target price for the company. One analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $25.79.

Tencent Music Entertainment Group Stock Down 3.3%

Shares of TME stock opened at $14.70 on Tuesday. The company has a debt-to-equity ratio of 0.04, a quick ratio of 2.08 and a current ratio of 2.09. The firm’s 50 day moving average is $16.84 and its 200 day moving average is $20.47. Tencent Music Entertainment Group Sponsored ADR has a 12 month low of $11.71 and a 12 month high of $26.70.

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.