Nykredit A S Invests $1.96 Million in Tencent Music Entertainment Group Sponsored ADR $TME

Key Points

• Nykredit A/S bought 235,170 shares of Tencent Music Entertainment Group in the second quarter, valued at approximately $1.96 million. Institutional investors collectively own 24.32% of the company.
• Analyst sentiment remains cautious: three analysts rate TME a Buy and ten rate it Hold, producing a consensus rating of Hold and an average price target of $17.21.
• TME shares opened at $8.27, near their 52-week low of $7.94, while the company reported quarterly revenue of $1.31 billion and earnings of $0.25 per share.

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

A number of other institutional investors and hedge funds also recently modified their holdings of the business. Royal Bank of Canada boosted its position in Tencent Music Entertainment Group by 9.0% in the first quarter. Royal Bank of Canada now owns 144,475 shares of the company's stock worth $2,082,000 after purchasing an additional 11,979 shares during the last quarter. AQR Capital Management LLC raised its stake in shares of Tencent Music Entertainment Group by 107.5% during the 1st quarter. AQR Capital Management LLC now owns 85,450 shares of the company's stock worth $1,231,000 after purchasing an additional 44,265 shares during the period. Jones Financial Companies Lllp bought a new stake in shares of Tencent Music Entertainment Group during the 1st quarter worth $985,000. Acadian Asset Management LLC boosted its holdings in shares of Tencent Music Entertainment Group by 385,900.0% in the 1st quarter. Acadian Asset Management LLC now owns 50,180 shares of the company's stock worth $722,000 after buying an additional 50,167 shares during the last quarter. Finally, EverSource Wealth Advisors LLC boosted its holdings in shares of Tencent Music Entertainment Group by 83.0% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 3,005 shares of the company's stock worth $59,000 after buying an additional 1,363 shares during the last quarter. 24.32% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

TME has been the subject of a number of research analyst reports. JPMorgan Chase & Co. decreased 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. Zacks Research upgraded shares of Tencent Music Entertainment Group from a "strong sell" rating to a "hold" rating in a research note on Tuesday, May 19th. Mizuho reduced their target price on shares of Tencent Music Entertainment Group from $18.00 to $15.00 and set an "outperform" rating for the company in a research report on Wednesday, August 12th. Nomura set a $10.00 price target on shares of Tencent Music Entertainment Group and gave the stock a "neutral" rating in a research note on Thursday, August 13th. Finally, Weiss Ratings raised shares of Tencent Music Entertainment Group from a "hold (c-)" rating to a "hold (c)" rating in a report on Wednesday, July 1st. Three investment analysts have rated the stock with a Buy rating and ten have issued a Hold rating to the stock. According to MarketBeat, the company currently has a consensus rating of "Hold" and an average target price of $17.21.

Tencent Music Entertainment Group Trading Up 0.1%

Shares of Tencent Music Entertainment Group stock opened at $8.27 on Tuesday. The stock has a market capitalization of $13.02 billion, a P/E ratio of 10.21, a P/E/G ratio of 1.45 and a beta of 0.85. 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 debt-to-equity ratio of 0.13, a quick ratio of 1.74 and a current ratio of 1.74. The stock's 50-day simple moving average is $8.90 and its 200 day simple moving average is $9.82.

Tencent Music Entertainment Group (NYSE:TME - Get Free Report) last issued its earnings results on Tuesday, June 30th. The company reported $0.25 earnings per share for the quarter. Tencent Music Entertainment Group had a net margin of 26.27% and a return on equity of 11.53%. The firm had revenue of $1.31 billion during the quarter. As a group, research analysts anticipate that Tencent Music Entertainment Group Sponsored ADR will post 0.87 EPS for the current year.

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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