Temasek Holdings Private Ltd Buys 1,517,481 Shares of Tencent Music Entertainment Group Sponsored ADR $TME

Temasek Holdings Private Ltd increased its stake in Tencent Music Entertainment Group Sponsored ADR (NYSE:TME) by 145.7% during the 4th quarter, Holdings Channel reports. The firm owned 2,559,173 shares of the company’s stock after purchasing an additional 1,517,481 shares during the quarter. Temasek Holdings Private Ltd’s holdings in Tencent Music Entertainment Group were worth $44,862,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Robeco Institutional Asset Management B.V. increased its position in shares of Tencent Music Entertainment Group by 7.3% in the fourth quarter. Robeco Institutional Asset Management B.V. now owns 5,706,740 shares of the company’s stock worth $100,039,000 after purchasing an additional 387,109 shares during the last quarter. SG Americas Securities LLC increased its position in shares of Tencent Music Entertainment Group by 85.7% in the fourth quarter. SG Americas Securities LLC now owns 542,198 shares of the company’s stock worth $9,505,000 after purchasing an additional 250,261 shares during the last quarter. Vanguard Group Inc. increased its position in shares of Tencent Music Entertainment Group by 1.4% in the fourth quarter. Vanguard Group Inc. now owns 21,455,738 shares of the company’s stock worth $376,119,000 after purchasing an additional 293,385 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its position in shares of Tencent Music Entertainment Group by 414.3% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,130,608 shares of the company’s stock worth $19,820,000 after purchasing an additional 910,767 shares during the last quarter. Finally, Panview Capital Ltd bought a new position in shares of Tencent Music Entertainment Group in the third quarter worth approximately $6,652,000. 24.32% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on TME shares. 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 on the stock in a research report on Thursday, May 14th. Daiwa Securities Group reiterated a “hold” rating and set a $12.00 price target on shares of Tencent Music Entertainment Group in a research report on Wednesday, March 18th. Weiss Ratings cut shares of Tencent Music Entertainment Group from a “hold (c)” rating to a “hold (c-)” rating in a research report on Tuesday, June 2nd. Zacks Research upgraded shares of Tencent Music Entertainment Group from a “strong sell” rating to a “hold” rating in a research report on Tuesday, May 19th. Finally, UBS Group reiterated a “neutral” rating and set a $13.00 price target (down from $26.00) on shares of Tencent Music Entertainment Group in a research report on Wednesday, March 18th. Six research analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $21.44.

Tencent Music Entertainment Group Price Performance

Shares of Tencent Music Entertainment Group stock opened at $9.24 on Tuesday. The firm has a market cap of $14.54 billion, a PE ratio of 11.54, a price-to-earnings-growth ratio of 0.60 and a beta of 0.80. Tencent Music Entertainment Group Sponsored ADR has a 12-month low of $8.44 and a 12-month high of $26.70. The company has a quick ratio of 2.08, a current ratio of 2.09 and a debt-to-equity ratio of 0.06. The company’s fifty day simple moving average is $9.27 and its two-hundred day simple moving average is $13.39.

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

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.