Mawer Investment Management Ltd. Has $136.88 Million Stock Position in Tencent Music Entertainment Group Sponsored ADR $TME

Key Points

• Mawer Investment Management Ltd. cut its Tencent Music Entertainment Group position by 6.8% in the fourth quarter, but still held 7.8 million shares worth about $136.9 million as of its latest SEC filing.
• Other major institutions also held sizable stakes, including Vanguard and Krane Funds, and overall institutional ownership stands at 24.32% of the stock.
• Analyst sentiment is mixed: the consensus rating is "Hold" with an average target price of $21.44, while TME recently traded around $9.51 after reporting quarterly EPS of $0.11 and raising its annual dividend from $0.18 to $0.24.

Mawer Investment Management Ltd. reduced its position in Tencent Music Entertainment Group Sponsored ADR (NYSE:TME - Free Report) by 6.8% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 7,808,297 shares of the company's stock after selling 573,842 shares during the period. Mawer Investment Management Ltd.'s holdings in Tencent Music Entertainment Group were worth $136,879,000 as of its most recent filing with the SEC.

Several other hedge funds have also bought and sold shares of the company. Vanguard Group Inc. lifted its stake in Tencent Music Entertainment Group by 1.4% in the 4th 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 during the last quarter. Krane Funds Advisors LLC lifted its stake in Tencent Music Entertainment Group by 25.4% in the 3rd 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 last quarter. Baillie Gifford & Co. lifted its stake in Tencent Music Entertainment Group by 0.3% in the 4th quarter. Baillie Gifford & Co. now owns 13,042,381 shares of the company's stock valued at $228,633,000 after purchasing an additional 35,182 shares during the last quarter. State Street Corp lifted its stake in Tencent Music Entertainment Group by 1.3% in the 2nd 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 during the last quarter. Finally, Green Court Capital Management Ltd lifted its stake in Tencent Music Entertainment Group by 467.2% in the 4th quarter. Green Court Capital Management Ltd now owns 5,893,162 shares of the company's stock valued at $108,729,000 after purchasing an additional 4,854,084 shares during the last quarter. 24.32% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on the stock. UBS Group restated a "neutral" rating and set a $13.00 price objective (down from $26.00) on shares of Tencent Music Entertainment Group in a research report on Wednesday, March 18th. 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 cut their price objective 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. Morgan Stanley restated an "equal weight" rating on shares of Tencent Music Entertainment Group in a research report on Thursday, March 19th. Finally, Jefferies Financial Group restated a "buy" rating and set a $23.00 price objective on shares of Tencent Music Entertainment Group in a research report on Tuesday, March 17th. Six equities research analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the company. According to MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus target price of $21.44.

Tencent Music Entertainment Group Stock Up 3.1%

NYSE TME opened at $9.51 on Tuesday. The company has a 50 day moving average of $9.34 and a 200-day moving average of $14.05. The company has a market cap of $14.72 billion, a price-to-earnings ratio of 11.88, a PEG ratio of 0.60 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 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 announced its quarterly earnings data on Tuesday, March 31st. The company reported $0.11 earnings per share (EPS) for the quarter. The business had revenue of $1.15 billion for the quarter. Tencent Music Entertainment Group had a net margin of 26.45% and a return on equity of 11.20%. On average, equities research analysts expect that Tencent Music Entertainment Group Sponsored ADR will post 0.9 earnings per share for the current fiscal year.

Tencent Music Entertainment Group Increases Dividend

The company also recently disclosed an annual dividend, which was paid on Thursday, April 23rd. Investors of record on Thursday, April 2nd were paid a $0.24 dividend. This represents a yield of 262.0%. This is a positive change from Tencent Music Entertainment Group's previous annual dividend of $0.18. The ex-dividend date of this dividend was Thursday, April 2nd. Tencent Music Entertainment Group's payout ratio is 28.75%.

About Tencent Music Entertainment Group

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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