Tencent Music Entertainment Group Sponsored ADR $TME Shares Sold by Jupiter Asset Management Ltd.

Key Points

• Jupiter Asset Management cut its stake in Tencent Music Entertainment Group by 32.6% in the fourth quarter, selling 145,302 shares and leaving it with 300,695 shares worth about $5.27 million.
• Other institutional investors were mixed: several funds, including Vanguard and Robeco, added to their positions, and institutional ownership now stands at 24.32% of the company.
• Analysts remain cautious overall, with a consensus “Hold” rating and an average price target of $21.44, even as the stock traded around $9.23 and the company reported quarterly EPS of $0.11 on revenue of $1.15 billion.

Jupiter Asset Management Ltd. lessened its holdings in shares of Tencent Music Entertainment Group Sponsored ADR (NYSE:TME - Free Report) by 32.6% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 300,695 shares of the company's stock after selling 145,302 shares during the quarter. Jupiter Asset Management Ltd.'s holdings in Tencent Music Entertainment Group were worth $5,271,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. Robeco Institutional Asset Management B.V. grew its stake in Tencent Music Entertainment Group by 7.3% during the 4th quarter. Robeco Institutional Asset Management B.V. now owns 5,706,740 shares of the company's stock valued at $100,039,000 after purchasing an additional 387,109 shares in the last quarter. SG Americas Securities LLC grew its position in shares of Tencent Music Entertainment Group by 85.7% in the 4th quarter. SG Americas Securities LLC now owns 542,198 shares of the company's stock worth $9,505,000 after acquiring an additional 250,261 shares in the last quarter. Green Court Capital Management Ltd grew its position in shares of 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. Vanguard Group Inc. grew its position in shares of 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 worth $376,119,000 after acquiring an additional 293,385 shares in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank grew its position in shares of Tencent Music Entertainment Group by 414.3% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,130,608 shares of the company's stock worth $19,820,000 after acquiring an additional 910,767 shares in the last quarter. Institutional investors and hedge funds own 24.32% of the company's stock.

Analyst Upgrades and Downgrades

TME has been the subject of several research reports. Morgan Stanley reiterated an "equal weight" rating on shares of Tencent Music Entertainment Group in a research report on Thursday, March 19th. Barclays decreased 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. UBS Group reiterated a "neutral" rating and issued a $13.00 target price (down from $26.00) on shares of Tencent Music Entertainment Group in a research report on Wednesday, March 18th. Daiwa Securities Group reiterated a "hold" rating and issued a $12.00 target price on shares of Tencent Music Entertainment Group in a research report on Wednesday, March 18th. Finally, JPMorgan Chase & Co. decreased 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. Six equities research analysts have rated the stock with a Buy rating and eight have given a Hold rating to the company's stock. According to MarketBeat, the stock currently has a consensus rating of "Hold" and an average price target of $21.44.

Tencent Music Entertainment Group Trading Up 1.6%

NYSE:TME opened at $9.23 on Friday. Tencent Music Entertainment Group Sponsored ADR has a 12-month low of $8.44 and a 12-month high of $26.70. The firm has a market capitalization of $14.30 billion, a P/E ratio of 11.54, a P/E/G ratio of 0.60 and a beta of 0.81. The company has a debt-to-equity ratio of 0.06, a current ratio of 2.09 and a quick ratio of 2.08. The business has a 50 day simple moving average of $9.35 and a 200 day simple moving average of $14.18.

Tencent Music Entertainment Group (NYSE:TME - Get Free Report) last released its quarterly earnings data on Tuesday, March 31st. The company reported $0.11 earnings per share (EPS) for the quarter. Tencent Music Entertainment Group had a return on equity of 11.20% and a net margin of 26.45%.The business had revenue of $1.15 billion during the quarter. Equities research analysts predict that Tencent Music Entertainment Group Sponsored ADR will post 0.9 EPS for the current year.

Tencent Music Entertainment Group Increases Dividend

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

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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