Twin Peaks Capital Ltd Boosts Stock Holdings in Tencent Music Entertainment Group Sponsored ADR $TME

Twin Peaks Capital Ltd increased its stake in Tencent Music Entertainment Group Sponsored ADR (NYSE:TME) by 275.0% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 300,000 shares of the company’s stock after acquiring an additional 220,000 shares during the period. Tencent Music Entertainment Group makes up about 1.2% of Twin Peaks Capital Ltd’s holdings, making the stock its 11th largest holding. Twin Peaks Capital Ltd’s holdings in Tencent Music Entertainment Group were worth $2,505,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Goldman Sachs Group Inc. increased its stake in Tencent Music Entertainment Group by 7.3% in the fourth quarter. Goldman Sachs Group Inc. now owns 7,863,263 shares of the company’s stock valued at $137,843,000 after purchasing an additional 537,047 shares during the last quarter. Krane Funds Advisors LLC lifted its position 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 worth $351,427,000 after buying an additional 1,026,551 shares during the last quarter. Geode Capital Management LLC lifted its position in shares of Tencent Music Entertainment Group by 6.1% during the 4th quarter. Geode Capital Management LLC now owns 3,831,308 shares of the company’s stock worth $66,568,000 after buying an additional 218,949 shares during the last quarter. Green Court Capital Management Ltd boosted its holdings in shares of Tencent Music Entertainment Group by 467.2% in the 4th 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. Finally, BNP Paribas Financial Markets boosted its holdings in shares of Tencent Music Entertainment Group by 26.5% in the 4th quarter. BNP Paribas Financial Markets now owns 2,320,609 shares of the company’s stock valued at $40,680,000 after buying an additional 486,682 shares in the last quarter. 24.32% of the stock is currently owned by hedge funds and other institutional investors.

Tencent Music Entertainment Group Stock Performance

TME stock traded down $0.04 during trading on Wednesday, hitting $7.86. The company had a trading volume of 1,566,967 shares, compared to its average volume of 9,309,596. The firm has a market cap of $12.36 billion, a PE ratio of 9.70, a price-to-earnings-growth ratio of 1.42 and a beta of 0.85. Tencent Music Entertainment Group Sponsored ADR has a 1-year low of $7.77 and a 1-year high of $26.70. The firm has a 50-day moving average price of $8.82 and a 200-day moving average price of $9.52. The company has a quick ratio of 1.74, a current ratio of 1.74 and a debt-to-equity ratio of 0.13.

Tencent Music Entertainment Group (NYSE:TME) last posted its quarterly earnings data on Tuesday, June 30th. The company reported $0.25 earnings per share for the quarter. Tencent Music Entertainment Group had a return on equity of 11.53% and a net margin of 26.27%.The company had revenue of $1.31 billion during the quarter. On average, analysts expect that Tencent Music Entertainment Group Sponsored ADR will post 0.87 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several brokerages recently commented on TME. Zacks Research upgraded shares of Tencent Music Entertainment Group from a “strong sell” rating to a “hold” rating in a research note on Tuesday, May 19th. Nomura set a $10.00 price objective on shares of Tencent Music Entertainment Group and gave the company a “neutral” rating in a research note on Thursday, August 13th. Weiss Ratings upgraded shares of Tencent Music Entertainment Group from a “hold (c-)” rating to a “hold (c)” rating in a research note on Wednesday, July 1st. Mizuho dropped their price objective on Tencent Music Entertainment Group from $18.00 to $15.00 and set an “outperform” rating on the stock in a report on Wednesday, August 12th. Finally, China Renaissance cut Tencent Music Entertainment Group from a “buy” rating to a “hold” rating and set a $9.30 target price on the stock. in a research report on Wednesday, August 12th. Three research analysts have rated the stock with a Buy rating and ten have given a Hold rating to the company’s stock. According to MarketBeat.com, Tencent Music Entertainment Group presently has an average rating of “Hold” and a consensus price target of $17.21.

Tencent Music Entertainment Group Profile

Tencent Music Entertainment Group is a China-based online music and audio entertainment company. It operates digital music platforms including QQ Music, Kugou Music and Kuwo Music, which provide users with licensed songs, albums, music videos, playlists, podcasts and other audio content. The company also operates WeSing, a social karaoke service that allows users to sing, record and share performances.

The company generates revenue through music subscriptions, digital advertising, content sales, and social entertainment services such as virtual gifts, live streaming and karaoke-related offerings.