Marathon Asset Management Ltd Decreases Stake in Tencent Music Entertainment Group Sponsored ADR $TME

Marathon Asset Management Ltd lowered its stake in Tencent Music Entertainment Group Sponsored ADR (NYSE:TME) by 19.5% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 2,305,413 shares of the company’s stock after selling 559,011 shares during the period. Tencent Music Entertainment Group accounts for 1.6% of Marathon Asset Management Ltd’s holdings, making the stock its 25th biggest position. Marathon Asset Management Ltd owned 0.13% of Tencent Music Entertainment Group worth $40,414,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. Allworth Financial LP raised its holdings in shares of Tencent Music Entertainment Group by 63.2% in the third quarter. Allworth Financial LP now owns 1,480 shares of the company’s stock worth $35,000 after buying an additional 573 shares during the last quarter. Smartleaf Asset Management LLC purchased a new position in shares of Tencent Music Entertainment Group in the third quarter worth $31,000. Mariner LLC raised its holdings in shares of Tencent Music Entertainment Group by 2.1% in the third quarter. Mariner LLC now owns 64,795 shares of the company’s stock worth $1,512,000 after buying an additional 1,340 shares during the last quarter. EverSource Wealth Advisors LLC raised its holdings in shares of Tencent Music Entertainment Group by 83.0% in the second 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, Jones Financial Companies Lllp raised its holdings in shares of Tencent Music Entertainment Group by 137.4% in the third 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. Hedge funds and other institutional investors own 24.32% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on TME shares. Benchmark reaffirmed a “hold” rating on shares of Tencent Music Entertainment Group in a report on Wednesday, March 18th. Jefferies Financial Group reaffirmed a “buy” rating and issued a $23.00 price target on shares of Tencent Music Entertainment Group in a report on Tuesday, March 17th. Daiwa Securities Group reaffirmed a “hold” rating and issued a $12.00 price target on shares of Tencent Music Entertainment Group in a report on Wednesday, March 18th. Morgan Stanley reaffirmed an “equal weight” rating on shares of Tencent Music Entertainment Group in a report on Thursday, March 19th. Finally, Mizuho reduced their target price on shares of Tencent Music Entertainment Group from $23.00 to $18.00 and set an “outperform” rating for the company in a report on Wednesday, May 13th. Six analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $21.44.

Tencent Music Entertainment Group Trading Up 0.9%

Shares of Tencent Music Entertainment Group stock opened at $9.14 on Wednesday. The company has a debt-to-equity ratio of 0.06, a current ratio of 2.09 and a quick ratio of 2.08. The firm has a fifty day moving average price of $10.01 and a 200 day moving average price of $14.87. Tencent Music Entertainment Group Sponsored ADR has a 1 year low of $8.44 and a 1 year high of $26.70. The stock has a market cap of $14.16 billion, a PE ratio of 11.43, a price-to-earnings-growth ratio of 0.59 and a beta of 0.81.

Tencent Music Entertainment Group (NYSE:TME) last issued its earnings results on Tuesday, March 31st. The company reported $0.11 earnings per share (EPS) for the quarter. Tencent Music Entertainment Group had a net margin of 26.45% and a return on equity of 11.20%. The firm had revenue of $1.15 billion during the quarter. Equities research analysts predict 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 declared an annual dividend, which was paid on Thursday, April 23rd. Investors of record on Thursday, April 2nd were given a dividend of $0.24 per share. This is a boost from Tencent Music Entertainment Group’s previous annual dividend of $0.18. This represents a yield of 262.0%. The ex-dividend date was Thursday, April 2nd. Tencent Music Entertainment Group’s dividend payout ratio (DPR) is 28.75%.

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.