Nykredit A S Makes New $1.69 Million Investment in Tencent Music Entertainment Group Sponsored ADR $TME

Key Points

• Nykredit A/S purchased 202,745 shares of Tencent Music Entertainment Group in the second quarter, representing an investment of approximately $1.69 million. Institutional investors and hedge funds collectively own 24.32% of the company.
• Analysts have a consensus “Hold” rating on TME, with an average price target of $17.21; recent targets range from $9.30 to $15.00, including a downgrade from China Renaissance and a target cut by Mizuho.
• TME shares opened at $8.28, near their 12-month low of $7.70, while the company reported quarterly EPS of $0.25 on $1.31 billion in revenue and maintained a 26.27% net margin.

Nykredit A S bought a new position in Tencent Music Entertainment Group Sponsored ADR (NYSE:TME - Free Report) during the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 202,745 shares of the company's stock, valued at approximately $1,693,000.

Other large investors have also made changes to their positions in the company. Hantz Financial Services Inc. boosted its stake in Tencent Music Entertainment Group by 99.6% in the 4th quarter. Hantz Financial Services Inc. now owns 8,159 shares of the company's stock worth $143,000 after purchasing an additional 4,072 shares during the period. NewEdge Wealth LLC acquired a new stake in Tencent Music Entertainment Group during the 1st quarter valued at $106,000. Summit Securities Group LLC purchased a new stake in shares of Tencent Music Entertainment Group in the first quarter valued at $110,000. Avise Financial Cooperative Inc. purchased a new stake in shares of Tencent Music Entertainment Group in the second quarter valued at $101,000. Finally, PNC Financial Services Group Inc. boosted its position in shares of Tencent Music Entertainment Group by 11.9% in the fourth quarter. PNC Financial Services Group Inc. now owns 15,939 shares of the company's stock worth $279,000 after buying an additional 1,691 shares during the period. Institutional investors and hedge funds own 24.32% of the company's stock.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on TME shares. Weiss Ratings upgraded Tencent Music Entertainment Group from a "hold (c-)" rating to a "hold (c)" rating in a report on Wednesday, July 1st. UBS Group set a $15.00 price objective on Tencent Music Entertainment Group in a research note on Wednesday, August 12th. Nomura set a $10.00 price objective on Tencent Music Entertainment Group and gave the stock a "neutral" rating in a research report on Thursday, August 13th. Mizuho lowered their target price on Tencent Music Entertainment Group from $18.00 to $15.00 and set an "outperform" rating on the stock in a research note on Wednesday, August 12th. Finally, China Renaissance downgraded Tencent Music Entertainment Group from a "buy" rating to a "hold" rating and set a $9.30 target price on the stock. in a report on Wednesday, August 12th. Three analysts have rated the stock with a Buy rating and ten have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Hold" and an average target price of $17.21.

Tencent Music Entertainment Group Trading Up 1.3%

Tencent Music Entertainment Group stock opened at $8.28 on Wednesday. The company's fifty day simple moving average is $8.74 and its 200-day simple moving average is $9.29. The company has a quick ratio of 1.74, a current ratio of 1.74 and a debt-to-equity ratio of 0.13. Tencent Music Entertainment Group Sponsored ADR has a 12 month low of $7.70 and a 12 month high of $24.25. The stock has a market cap of $13.02 billion, a P/E ratio of 10.22, a P/E/G ratio of 1.43 and a beta of 0.85.

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

About Tencent Music Entertainment Group

Tencent Music Entertainment Group is a China-based online music and audio entertainment company. It operates digital music platforms including QQ Music, Kugou Music and Kuwo Music, which provide users with licensed songs, albums, music videos, playlists, podcasts and other audio content. The company also operates WeSing, a social karaoke service that allows users to sing, record and share performances.

The company generates revenue through music subscriptions, digital advertising, content sales, and social entertainment services such as virtual gifts, live streaming and karaoke-related offerings.

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