Green Court Capital Management Ltd Has $108.73 Million Stock Position in Tencent Music Entertainment Group Sponsored ADR $TME

Key Points

• Green Court Capital Management dramatically boosted its Tencent Music Entertainment stake by 467.2% in the fourth quarter, making TME its largest holding. The position was valued at about $108.7 million.
• Other institutional investors also increased exposure, and roughly 24.32% of TME shares are held by institutions overall. That suggests continued professional interest despite mixed sentiment.
• Analysts remain cautious on the stock, with an average rating of Hold and a consensus price target of $21.44. TME was trading around $9.11, below its 200-day moving average and near its 1-year low.

Green Court Capital Management Ltd raised its position in Tencent Music Entertainment Group Sponsored ADR (NYSE:TME - Free Report) by 467.2% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 5,893,162 shares of the company's stock after purchasing an additional 4,854,084 shares during the quarter. Tencent Music Entertainment Group accounts for about 41.8% of Green Court Capital Management Ltd's holdings, making the stock its biggest holding. Green Court Capital Management Ltd's holdings in Tencent Music Entertainment Group were worth $108,729,000 at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of the company. Geode Capital Management LLC raised its position in Tencent Music Entertainment Group by 6.1% in the fourth quarter. Geode Capital Management LLC now owns 3,831,308 shares of the company's stock valued at $66,568,000 after purchasing an additional 218,949 shares during the last quarter. Genus Capital Management Inc. raised its position in Tencent Music Entertainment Group by 19.6% in the fourth quarter. Genus Capital Management Inc. now owns 24,377 shares of the company's stock valued at $427,000 after purchasing an additional 4,000 shares during the last quarter. Hantz Financial Services Inc. raised its position in Tencent Music Entertainment Group by 99.6% in the fourth quarter. Hantz Financial Services Inc. now owns 8,159 shares of the company's stock valued at $143,000 after purchasing an additional 4,072 shares during the last quarter. Swedbank AB raised its position in Tencent Music Entertainment Group by 7.0% in the fourth quarter. Swedbank AB now owns 610,919 shares of the company's stock valued at $10,709,000 after purchasing an additional 40,000 shares during the last quarter. Finally, Global Retirement Partners LLC raised its position in Tencent Music Entertainment Group by 1,494.9% in the fourth quarter. Global Retirement Partners LLC now owns 30,032 shares of the company's stock valued at $526,000 after purchasing an additional 28,149 shares during the last quarter. 24.32% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several research firms have commented on TME. UBS Group reiterated a "neutral" rating and issued a $13.00 target price (down from $26.00) on shares of Tencent Music Entertainment Group in a research report on Wednesday, March 18th. JPMorgan Chase & Co. decreased their price target on Tencent Music Entertainment Group from $12.00 to $10.00 and set a "neutral" rating for the company in a research note on Thursday, May 14th. Benchmark reissued a "hold" rating on shares of Tencent Music Entertainment Group in a research note on Wednesday, March 18th. Daiwa Securities Group reissued a "hold" rating and issued a $12.00 price target on shares of Tencent Music Entertainment Group in a research note on Wednesday, March 18th. Finally, Zacks Research raised Tencent Music Entertainment Group from a "strong sell" rating to a "hold" rating in a research note on Tuesday, May 19th. Six investment analysts have rated the stock with a Buy rating and eight have given a Hold rating to the company's stock. Based on data from MarketBeat, the company currently has an average rating of "Hold" and a consensus price target of $21.44.

Tencent Music Entertainment Group Trading Down 1.1%

Shares of TME stock opened at $9.11 on Friday. The stock has a market cap of $14.10 billion, a price-to-earnings ratio of 11.38, a PEG ratio of 0.60 and a beta of 0.81. The stock has a 50-day moving average of $9.37 and a 200-day moving average of $14.22. 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 Sponsored ADR has a 1-year low of $8.44 and a 1-year high of $26.70.

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

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