Panview Capital Ltd Buys New Shares in Tencent Music Entertainment Group Sponsored ADR $TME

Key Points

• Panview Capital bought 285,000 shares of Tencent Music (TME) in Q3—about $6.65 million—making the stock roughly 2.8% of its portfolio and its 9th-largest holding.
• Multiple institutions sharply increased positions (e.g., Green Court +93.1% to 1,039,078 shares; AGF +86.5%; Acadian +2,928%), and hedge funds/institutions now own about 24.32% of TME.
• Analysts' consensus is a "Moderate Buy" with an average target of $25.79, while TME trades near $13.62 (market cap ≈ $23.4B), indicating a notable gap between current price and analyst targets.

Panview Capital Ltd purchased a new stake in shares of Tencent Music Entertainment Group Sponsored ADR (NYSE:TME - Free Report) in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 285,000 shares of the company's stock, valued at approximately $6,652,000. Tencent Music Entertainment Group accounts for approximately 2.8% of Panview Capital Ltd's investment portfolio, making the stock its 9th largest position.

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. Green Court Capital Management Ltd increased its holdings in Tencent Music Entertainment Group by 93.1% in the 3rd quarter. Green Court Capital Management Ltd now owns 1,039,078 shares of the company's stock worth $24,252,000 after acquiring an additional 501,078 shares in the last quarter. Campbell & CO Investment Adviser LLC purchased a new position in Tencent Music Entertainment Group during the third quarter valued at approximately $4,257,000. AGF Management Ltd. lifted its holdings in Tencent Music Entertainment Group by 86.5% during the third quarter. AGF Management Ltd. now owns 878,591 shares of the company's stock valued at $20,506,000 after purchasing an additional 407,400 shares in the last quarter. OPTIMAS CAPITAL Ltd bought a new position in shares of Tencent Music Entertainment Group in the third quarter worth approximately $9,150,000. Finally, Acadian Asset Management LLC boosted its position in shares of Tencent Music Entertainment Group by 2,928.0% in the second quarter. Acadian Asset Management LLC now owns 1,519,458 shares of the company's stock worth $29,601,000 after purchasing an additional 1,469,278 shares during the period. Hedge funds and other institutional investors own 24.32% of the company's stock.

Analyst Upgrades and Downgrades

Several analysts have recently commented on TME shares. Benchmark decreased their price objective on shares of Tencent Music Entertainment Group from $28.00 to $25.00 and set a "buy" rating on the stock in a research report on Thursday, November 13th. Morgan Stanley dropped their target price on shares of Tencent Music Entertainment Group from $27.50 to $25.00 and set an "overweight" rating for the company in a report on Monday, December 22nd. Weiss Ratings reiterated a "hold (c+)" rating on shares of Tencent Music Entertainment Group in a research note on Monday, December 29th. Finally, Barclays raised their price target on Tencent Music Entertainment Group from $27.00 to $28.00 and gave the company an "overweight" rating in a report on Wednesday, November 12th. One research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and three have assigned a Hold rating to the company's stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $25.79.

Tencent Music Entertainment Group Trading Up 1.1%

Shares of TME opened at $13.62 on Monday. The firm has a market cap of $23.37 billion, a P/E ratio of 14.19, a price-to-earnings-growth ratio of 0.86 and a beta of 0.56. The company has a debt-to-equity ratio of 0.04, a current ratio of 2.09 and a quick ratio of 2.08. Tencent Music Entertainment Group Sponsored ADR has a 1 year low of $11.71 and a 1 year high of $26.70. The company has a 50 day simple moving average of $16.23 and a two-hundred day simple moving average of $19.81.

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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