Nykredit A S Makes New Investment in Tencent Music Entertainment Group Sponsored ADR $TME

Nykredit A S acquired a new stake in shares of Tencent Music Entertainment Group Sponsored ADR (NYSE:TME) in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 235,170 shares of the company’s stock, valued at approximately $1,964,000.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Schroder Investment Management Group grew its stake in Tencent Music Entertainment Group by 30.0% in the 4th quarter. Schroder Investment Management Group now owns 80,480,078 shares of the company’s stock worth $1,410,816,000 after buying an additional 18,554,567 shares in the last quarter. Krane Funds Advisors LLC grew its position in Tencent Music Entertainment Group by 5.4% in the fourth quarter. Krane Funds Advisors LLC now owns 20,047,192 shares of the company’s stock worth $351,427,000 after acquiring an additional 1,026,551 shares in the last quarter. Cantillon Capital Management LLC increased its stake in Tencent Music Entertainment Group by 1.4% in the fourth quarter. Cantillon Capital Management LLC now owns 18,708,502 shares of the company’s stock valued at $327,960,000 after acquiring an additional 256,286 shares during the last quarter. Overlook Investments LP bought a new position in Tencent Music Entertainment Group in the fourth quarter valued at $278,022,000. Finally, State Street Corp raised its position in Tencent Music Entertainment Group by 1.3% during the second quarter. State Street Corp now owns 12,553,992 shares of the company’s stock valued at $244,677,000 after purchasing an additional 155,692 shares in the last quarter. 24.32% of the stock is currently owned by hedge funds and other institutional investors.

Tencent Music Entertainment Group Price Performance

Shares of Tencent Music Entertainment Group stock opened at $8.27 on Tuesday. The business has a 50 day moving average of $8.90 and a 200 day moving average of $9.82. Tencent Music Entertainment Group Sponsored ADR has a 52 week low of $7.94 and a 52 week high of $26.70. The company has a market cap of $13.02 billion, a PE ratio of 10.21, a P/E/G ratio of 1.45 and a beta of 0.85. 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 released its quarterly earnings results on Tuesday, June 30th. The company reported $0.25 earnings per share for the quarter. The business had revenue of $1.31 billion for the quarter. Tencent Music Entertainment Group had a net margin of 26.27% and a return on equity of 11.53%. As a group, equities research analysts forecast that Tencent Music Entertainment Group Sponsored ADR will post 0.87 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on TME shares. UBS Group set a $15.00 target price on Tencent Music Entertainment Group in a research report on Wednesday, August 12th. 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. Mizuho decreased their price target on shares of Tencent Music Entertainment Group from $18.00 to $15.00 and set an “outperform” rating on the stock in a research note on Wednesday, August 12th. JPMorgan Chase & Co. lowered their price objective on shares of Tencent Music Entertainment Group from $12.00 to $10.00 and set a “neutral” rating for the company in a report on Thursday, May 14th. Finally, 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. Three research analysts have rated the stock with a Buy rating and ten have given a Hold rating to the stock. Based on data from MarketBeat.com, Tencent Music Entertainment Group has an average rating of “Hold” and an average target price of $17.21.

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.