Tencent Music Entertainment Group Sponsored ADR $TME Stock: Robeco Institutional Asset Management B.V. Raises Stake

Key Points

• Robeco Institutional Asset Management B.V. increased its Tencent Music stake by 26.2% in the third quarter, adding 355,462 shares for a total of 1.71 million shares valued at approximately $13.6 million.
• Tencent Music shares opened at $8.51, near the lower end of their 52-week range of $7.66 to $23.85. The company reported quarterly revenue of $1.31 billion, EPS of $0.25, and a 26.27% net margin.
• Analyst sentiment remains mixed, with a consensus “Hold” rating and an average price target of $17.21; institutional investors currently own 24.32% of the stock.

Robeco Institutional Asset Management B.V. lifted its holdings in shares of Tencent Music Entertainment Group Sponsored ADR (NYSE:TME - Free Report) by 26.2% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,713,005 shares of the company's stock after purchasing an additional 355,462 shares during the quarter. Robeco Institutional Asset Management B.V. owned 0.11% of Tencent Music Entertainment Group worth $13,584,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of TME. Allspring Global Investments Holdings LLC boosted its holdings in Tencent Music Entertainment Group by 21.3% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 4,246,363 shares of the company's stock valued at $39,024,000 after acquiring an additional 744,490 shares during the period. Sei Investments Co. raised its holdings in Tencent Music Entertainment Group by 10.4% during the 1st quarter. Sei Investments Co. now owns 3,980,820 shares of the company's stock valued at $36,942,000 after buying an additional 374,586 shares during the last quarter. Amundi raised its holdings in Tencent Music Entertainment Group by 13.6% during the 1st quarter. Amundi now owns 3,350,991 shares of the company's stock valued at $31,097,000 after buying an additional 401,396 shares during the last quarter. Carmignac Gestion boosted its position in Tencent Music Entertainment Group by 0.8% during the 2nd quarter. Carmignac Gestion now owns 2,903,426 shares of the company's stock valued at $24,257,000 after buying an additional 22,273 shares during the period. Finally, Public Employees Retirement System of Ohio purchased a new stake in Tencent Music Entertainment Group during the 2nd quarter valued at $21,974,000. 24.32% of the stock is currently owned by institutional investors.

Tencent Music Entertainment Group Trading Down 1.0%

TME opened at $8.51 on Friday. 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 52 week low of $7.66 and a 52 week high of $23.85. The stock has a market cap of $13.40 billion, a PE ratio of 10.00, a PEG ratio of 1.51 and a beta of 0.78. The business has a 50 day moving average of $8.31 and a 200-day moving average of $8.83.

Tencent Music Entertainment Group (NYSE:TME - Get Free Report) last posted 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%. Equities research analysts predict that Tencent Music Entertainment Group Sponsored ADR will post 0.87 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on the company. Mizuho cut their price objective on Tencent Music Entertainment Group from $18.00 to $15.00 and set an "outperform" rating on the stock in a research report on Wednesday, August 12th. Weiss Ratings reaffirmed a "hold (c)" rating on shares of Tencent Music Entertainment Group in a research note on Monday, September 28th. UBS Group set a $15.00 price target on shares of Tencent Music Entertainment Group in a report on Wednesday, August 12th. Nomura set a $10.00 price objective on shares of Tencent Music Entertainment Group and gave the company a "neutral" rating in a research report on Thursday, August 13th. Finally, China Renaissance upgraded shares of Tencent Music Entertainment Group from a "hold" rating to a "strong-buy" rating in a report on Wednesday, October 14th. One research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and nine have given a Hold rating to the company. According to data from MarketBeat, Tencent Music Entertainment Group has a consensus rating of "Hold" and an average target price of $17.21.

Tencent Music Entertainment Group Company Profile

Tencent Music Entertainment Group is a China-based online music and audio entertainment company. Established in 2016 through the combination of Tencent's online music businesses, the company operates digital platforms that provide music streaming, audio content and interactive entertainment services.

Its principal services include QQ Music, Kugou Music and Kuwo Music, which offer licensed songs, playlists, music videos, podcasts and other audio programming. Tencent Music also operates WeSing, a social karaoke platform that enables users to sing, record and share performances.

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