William Blair Investment Management LLC Has $62.97 Million Stock Holdings in Tencent Music Entertainment Group Sponsored ADR $TME

William Blair Investment Management LLC cut its holdings in Tencent Music Entertainment Group Sponsored ADR (NYSE:TME) by 4.9% in the fourth quarter, Holdings Channel.com reports. The fund owned 3,592,177 shares of the company’s stock after selling 185,808 shares during the quarter. William Blair Investment Management LLC’s holdings in Tencent Music Entertainment Group were worth $62,965,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of TME. Sumitomo Mitsui Trust Group Inc. raised its position in shares of Tencent Music Entertainment Group by 312.3% in the fourth quarter. Sumitomo Mitsui Trust Group Inc. now owns 5,764,321 shares of the company’s stock valued at $101,049,000 after purchasing an additional 4,366,226 shares during the period. Krane Funds Advisors LLC raised its position in shares of Tencent Music Entertainment Group by 25.4% in the third quarter. Krane Funds Advisors LLC now owns 19,020,641 shares of the company’s stock valued at $421,593,000 after purchasing an additional 3,856,410 shares during the period. Massachusetts Financial Services Co. MA raised its position in shares of Tencent Music Entertainment Group by 117.4% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 4,907,677 shares of the company’s stock valued at $86,032,000 after purchasing an additional 2,649,833 shares during the period. Polar Capital Holdings Plc bought a new position in shares of Tencent Music Entertainment Group in the third quarter valued at approximately $27,794,000. Finally, Qube Research & Technologies Ltd raised its position in shares of Tencent Music Entertainment Group by 142.4% in the third quarter. Qube Research & Technologies Ltd now owns 1,899,783 shares of the company’s stock valued at $44,341,000 after purchasing an additional 1,115,915 shares during the period. Institutional investors own 24.32% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on the stock. UBS Group reissued a “neutral” rating and issued a $13.00 price target (down from $26.00) on shares of Tencent Music Entertainment Group in a research report on Wednesday, March 18th. JPMorgan Chase & Co. dropped their price target 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. Jefferies Financial Group reissued a “buy” rating and issued a $23.00 price target on shares of Tencent Music Entertainment Group in a research report on Tuesday, March 17th. Benchmark reissued a “hold” rating on shares of Tencent Music Entertainment Group in a research report on Wednesday, March 18th. Finally, Daiwa Securities Group reaffirmed a “hold” rating and set a $12.00 target price 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 given a Hold rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $21.44.

Tencent Music Entertainment Group Trading Up 0.2%

Shares of TME stock opened at $8.83 on Monday. Tencent Music Entertainment Group Sponsored ADR has a 1 year low of $8.44 and a 1 year high of $26.70. The firm’s fifty day simple moving average is $9.73 and its 200 day simple moving average is $14.59. The firm has a market capitalization of $13.67 billion, a P/E ratio of 11.03, a price-to-earnings-growth ratio of 0.57 and a beta of 0.81. The company has a current ratio of 2.09, a quick ratio of 2.08 and a debt-to-equity ratio of 0.06.

Tencent Music Entertainment Group (NYSE:TME) last announced 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 business had revenue of $1.15 billion for the quarter. As a group, sell-side analysts predict that Tencent Music Entertainment Group Sponsored ADR will post 0.9 EPS for the current year.

Tencent Music Entertainment Group Increases Dividend

The firm also recently declared an annual dividend, which was paid on Thursday, April 23rd. Shareholders of record on Thursday, April 2nd were issued a $0.24 dividend. This is a boost from Tencent Music Entertainment Group’s previous annual dividend of $0.18. The ex-dividend date of this dividend was Thursday, April 2nd. This represents a yield of 262.0%. Tencent Music Entertainment Group’s payout ratio is presently 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.