Axiom Investors LLC DE Decreases Stake in Tencent Music Entertainment Group Sponsored ADR $TME

Key Points

• Axiom Investors LLC DE cut its Tencent Music Entertainment Group stake by 49.5% in the fourth quarter, selling about 1.2 million shares and leaving it with 1,221,574 shares worth roughly $21.4 million.
• Tencent Music reported mixed recent fundamentals, posting quarterly EPS of $0.11 on revenue of $1.15 billion, while analysts expect about 0.9 EPS for the current year.
• Wall Street sentiment is cautious: analysts have an average “Hold” rating on TME, with an average price target of $21.44, even as the stock recently traded near $9.08, close to its 1-year low.

Axiom Investors LLC DE reduced its holdings in Tencent Music Entertainment Group Sponsored ADR (NYSE:TME - Free Report) by 49.5% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,221,574 shares of the company's stock after selling 1,199,136 shares during the period. Axiom Investors LLC DE's holdings in Tencent Music Entertainment Group were worth $21,414,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently bought and sold shares of TME. Smartleaf Asset Management LLC purchased a new position in Tencent Music Entertainment Group during the third quarter worth about $31,000. Allworth Financial LP raised its stake in Tencent Music Entertainment Group by 63.2% during the third quarter. Allworth Financial LP now owns 1,480 shares of the company's stock worth $35,000 after purchasing an additional 573 shares during the period. Jones Financial Companies Lllp raised its stake in Tencent Music Entertainment Group by 137.4% during the third quarter. Jones Financial Companies Lllp now owns 2,414 shares of the company's stock worth $57,000 after purchasing an additional 1,397 shares during the period. EverSource Wealth Advisors LLC raised its stake in Tencent Music Entertainment Group by 83.0% during the second quarter. EverSource Wealth Advisors LLC now owns 3,005 shares of the company's stock worth $59,000 after purchasing an additional 1,363 shares during the period. Finally, Hantz Financial Services Inc. raised its stake in Tencent Music Entertainment Group by 69.3% during the third quarter. Hantz Financial Services Inc. now owns 4,087 shares of the company's stock worth $95,000 after purchasing an additional 1,673 shares during the period. 24.32% of the stock is owned by hedge funds and other institutional investors.

Tencent Music Entertainment Group Price Performance

Shares of TME opened at $9.08 on Wednesday. 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 $14.30 billion, a PE ratio of 11.36, a P/E/G ratio of 0.59 and a beta of 0.80. The firm has a 50-day simple moving average of $9.27 and a two-hundred day simple moving average of $13.65. The company has a debt-to-equity ratio of 0.06, a current ratio of 2.09 and a quick ratio of 2.08.

Tencent Music Entertainment Group (NYSE:TME - Get Free Report) last announced its quarterly earnings results on Tuesday, March 31st. The company reported $0.11 earnings per share for the quarter. The business had revenue of $1.15 billion during the quarter. Tencent Music Entertainment Group had a net margin of 26.45% and a return on equity of 11.20%. As a group, analysts forecast 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 disclosed an annual dividend, which was paid on Thursday, April 23rd. Investors of record on Thursday, April 2nd were issued a $0.24 dividend. This represents a dividend yield of 262.0%. This is an increase from Tencent Music Entertainment Group's previous annual dividend of $0.18. The ex-dividend date was Thursday, April 2nd. Tencent Music Entertainment Group's dividend payout ratio (DPR) is presently 28.75%.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on TME. Barclays reduced their target price on shares of Tencent Music Entertainment Group from $28.00 to $20.00 and set an "overweight" rating on the stock in a research note on Thursday, March 19th. Daiwa Securities Group reiterated a "hold" rating and set a $12.00 price target on shares of Tencent Music Entertainment Group in a research report on Wednesday, March 18th. Weiss Ratings cut shares of Tencent Music Entertainment Group from a "hold (c)" rating to a "hold (c-)" rating in a research report on Tuesday, June 2nd. Mizuho dropped their price target on shares of Tencent Music Entertainment Group from $23.00 to $18.00 and set an "outperform" rating for the company in a research report on Wednesday, May 13th. Finally, Morgan Stanley reiterated an "equal weight" rating on shares of Tencent Music Entertainment Group in a research report on Thursday, March 19th. Six research analysts have rated the stock with a Buy rating and eight have issued 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 price target of $21.44.

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.

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