Tencent Music Entertainment Group Sponsored ADR $TME Shares Bought by BNP Paribas Financial Markets

Key Points

• BNP Paribas Financial Markets boosted its stake in Tencent Music Entertainment Group by 26.5% in the fourth quarter, buying 486,682 additional shares and bringing its total holding to 2.32 million shares worth about $40.7 million.
• Analysts remain cautious on the stock overall: several firms recently cut price targets, and MarketBeat says TME currently carries an average rating of “Hold” with an average price target of $21.44.
• The company recently reported quarterly EPS of $0.11 on revenue of $1.15 billion and also raised its annual dividend to $0.24 per share from $0.18, although the stock was trading at $9.13 and remains well below its 200-day average.

BNP Paribas Financial Markets raised its position in Tencent Music Entertainment Group Sponsored ADR (NYSE:TME - Free Report) by 26.5% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,320,609 shares of the company's stock after acquiring an additional 486,682 shares during the quarter. BNP Paribas Financial Markets' holdings in Tencent Music Entertainment Group were worth $40,680,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of the company. Allworth Financial LP grew its position in Tencent Music Entertainment Group by 63.2% in the 3rd quarter. Allworth Financial LP now owns 1,480 shares of the company's stock valued at $35,000 after acquiring an additional 573 shares in the last quarter. Smartleaf Asset Management LLC acquired a new position in Tencent Music Entertainment Group in the 3rd quarter valued at about $31,000. Mariner LLC grew its position in Tencent Music Entertainment Group by 2.1% in the 3rd quarter. Mariner LLC now owns 64,795 shares of the company's stock valued at $1,512,000 after acquiring an additional 1,340 shares in the last quarter. EverSource Wealth Advisors LLC grew its position in 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 valued at $59,000 after acquiring an additional 1,363 shares in the last quarter. Finally, Jones Financial Companies Lllp grew its position in Tencent Music Entertainment Group by 137.4% in the 3rd quarter. Jones Financial Companies Lllp now owns 2,414 shares of the company's stock valued at $57,000 after acquiring an additional 1,397 shares in the last quarter. 24.32% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

TME has been the subject of several research reports. JPMorgan Chase & Co. dropped their target price on Tencent Music Entertainment Group from $12.00 to $10.00 and set a "neutral" rating for the company in a research report on Thursday, May 14th. Barclays dropped their target price on Tencent Music Entertainment Group from $28.00 to $20.00 and set an "overweight" rating for the company in a research report on Thursday, March 19th. Benchmark reaffirmed a "hold" rating on shares of Tencent Music Entertainment Group in a research report on Wednesday, March 18th. Jefferies Financial Group reiterated a "buy" rating and issued a $23.00 price objective on shares of Tencent Music Entertainment Group in a research note on Tuesday, March 17th. Finally, Mizuho decreased their price objective on Tencent Music Entertainment Group from $23.00 to $18.00 and set an "outperform" rating for the company in a research note on Wednesday, May 13th. Six equities research analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of "Hold" and an average price target of $21.44.

Tencent Music Entertainment Group Stock Performance

Shares of TME opened at $9.13 on Thursday. The stock has a 50-day simple moving average of $9.31 and a 200-day simple moving average of $13.92. The company has a debt-to-equity ratio of 0.06, a quick ratio of 2.08 and a current ratio of 2.09. The stock has a market capitalization of $14.15 billion, a PE ratio of 11.42, a PEG ratio of 0.63 and a beta of 0.80. 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 during the quarter. Tencent Music Entertainment Group had a return on equity of 11.20% and a net margin of 26.45%. On average, analysts predict that Tencent Music Entertainment Group Sponsored ADR will post 0.89 earnings per share for the current fiscal 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. The ex-dividend date was Thursday, April 2nd. This is a positive change from Tencent Music Entertainment Group's previous annual dividend of $0.18. This represents a yield of 262.0%. Tencent Music Entertainment Group's dividend payout ratio (DPR) is presently 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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