Twin Peaks Capital Ltd Raises Stake in Tencent Music Entertainment Group Sponsored ADR $TME

Key Points

• Twin Peaks Capital increased its Tencent Music stake by 275% in the second quarter, owning 300,000 shares valued at approximately $2.5 million. The position represents about 1.2% of the fund’s portfolio.
• Institutional ownership remains significant at 24.32%, with several other investment firms initiating or expanding positions in the company.
• Analyst sentiment is largely neutral: Tencent Music has an average “Hold” rating and a consensus price target of $17.21, while shares recently traded at $7.86—near their 12-month low of $7.77.

Twin Peaks Capital Ltd grew its stake in Tencent Music Entertainment Group Sponsored ADR (NYSE:TME - Free Report) by 275.0% in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 300,000 shares of the company's stock after acquiring an additional 220,000 shares during the quarter. Tencent Music Entertainment Group comprises approximately 1.2% of Twin Peaks Capital Ltd's investment portfolio, making the stock its 11th biggest position. Twin Peaks Capital Ltd's holdings in Tencent Music Entertainment Group were worth $2,505,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of the stock. Avise Financial Cooperative Inc. acquired a new position in shares of Tencent Music Entertainment Group during the 2nd quarter valued at about $101,000. NewEdge Wealth LLC purchased a new stake in shares of Tencent Music Entertainment Group during the 1st quarter valued at approximately $106,000. Summit Securities Group LLC purchased a new stake in shares of Tencent Music Entertainment Group during the 1st quarter valued at approximately $110,000. Hantz Financial Services Inc. lifted its holdings in Tencent Music Entertainment Group by 99.6% in the fourth quarter. Hantz Financial Services Inc. now owns 8,159 shares of the company's stock valued at $143,000 after acquiring an additional 4,072 shares during the last quarter. Finally, Angeles Wealth Management LLC acquired a new position in Tencent Music Entertainment Group in the second quarter valued at approximately $159,000. Hedge funds and other institutional investors own 24.32% of the company's stock.

Analysts Set New Price Targets

Several equities research analysts have issued reports on the company. Weiss Ratings raised Tencent Music Entertainment Group from a "hold (c-)" rating to a "hold (c)" rating in a research note on Wednesday, July 1st. Mizuho decreased their price target 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. China Renaissance cut Tencent Music Entertainment Group from a "buy" rating to a "hold" rating and set a $9.30 price target for the company. in a report 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. Finally, Zacks Research raised Tencent Music Entertainment Group from a "strong sell" rating to a "hold" rating in a research report on Tuesday, May 19th. Three analysts have rated the stock with a Buy rating and ten have assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus target price of $17.21.

Tencent Music Entertainment Group Trading Down 0.4%

NYSE TME traded down $0.04 during trading on Wednesday, hitting $7.86. The stock had a trading volume of 1,566,967 shares, compared to its average volume of 9,309,596. The company has a market capitalization of $12.36 billion, a PE ratio of 9.70, a PEG ratio of 1.42 and a beta of 0.85. The company has a quick ratio of 1.74, a current ratio of 1.74 and a debt-to-equity ratio of 0.13. The firm has a 50 day moving average price of $8.82 and a 200 day moving average price of $9.52. Tencent Music Entertainment Group Sponsored ADR has a twelve month low of $7.77 and a twelve month high of $26.70.

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

Tencent Music Entertainment Group Company Profile

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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