Y Intercept Hong Kong Ltd Has $7.09 Million Stock Position in Tencent Music Entertainment Group Sponsored ADR $TME

Y Intercept Hong Kong Ltd lifted its holdings in shares of Tencent Music Entertainment Group Sponsored ADR (NYSE:TME) by 75.0% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 763,551 shares of the company’s stock after acquiring an additional 327,295 shares during the period. Y Intercept Hong Kong Ltd’s holdings in Tencent Music Entertainment Group were worth $7,086,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. Robeco Institutional Asset Management B.V. boosted its stake in Tencent Music Entertainment Group by 7.3% during the 4th quarter. Robeco Institutional Asset Management B.V. now owns 5,706,740 shares of the company’s stock valued at $100,039,000 after purchasing an additional 387,109 shares during the last quarter. SG Americas Securities LLC raised its stake 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. lifted its holdings 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 valued at $376,119,000 after purchasing an additional 293,385 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings 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 valued at $19,820,000 after purchasing an additional 910,767 shares in the last quarter. Finally, Panview Capital Ltd purchased a new position in shares of Tencent Music Entertainment Group during the third quarter valued at approximately $6,652,000. Institutional investors and hedge funds own 24.32% of the company’s stock.

Analysts Set New Price Targets

TME has been the subject of several recent research reports. Daiwa Securities Group reiterated a “hold” rating and set a $12.00 price target on shares of Tencent Music Entertainment Group in a report on Wednesday, March 18th. Zacks Research upgraded Tencent Music Entertainment Group from a “strong sell” rating to a “hold” rating in a research note on Tuesday, May 19th. JPMorgan Chase & Co. cut 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 report on Thursday, May 14th. Morgan Stanley reiterated an “equal weight” rating on shares of Tencent Music Entertainment Group in a research note on Thursday, March 19th. Finally, Weiss Ratings raised shares of Tencent Music Entertainment Group from a “hold (c-)” rating to a “hold (c)” rating in a research report on Wednesday. Six research analysts have rated the stock with a Buy rating and eight have given a Hold rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $21.44.

Tencent Music Entertainment Group Stock Performance

TME stock opened at $8.63 on Friday. The business has a 50 day moving average of $8.98 and a 200-day moving average of $12.47. The firm has a market cap of $13.59 billion, a PE ratio of 10.79, a P/E/G ratio of 0.56 and a beta of 0.82. Tencent Music Entertainment Group Sponsored ADR has a 12-month low of $7.94 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.

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

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.