Working Capital Advisors UK Ltd. Acquires Shares of 400,000 Tencent Music Entertainment Group Sponsored ADR $TME

Working Capital Advisors UK Ltd. acquired a new position in shares of Tencent Music Entertainment Group Sponsored ADR (NYSE:TME) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund acquired 400,000 shares of the company’s stock, valued at approximately $3,340,000,000. Tencent Music Entertainment Group comprises about 5.8% of Working Capital Advisors UK Ltd.’s portfolio, making the stock its 3rd biggest holding.

Several other institutional investors have also recently made changes to their positions in TME. Schroder Investment Management Group boosted its holdings in Tencent Music Entertainment Group by 30.0% during the fourth quarter. Schroder Investment Management Group now owns 80,480,078 shares of the company’s stock worth $1,410,816,000 after purchasing an additional 18,554,567 shares during the last quarter. Vanguard Group Inc. increased its stake in 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 valued at $376,119,000 after buying an additional 293,385 shares during the last quarter. Krane Funds Advisors LLC increased its stake in Tencent Music Entertainment Group by 5.4% in the 4th quarter. Krane Funds Advisors LLC now owns 20,047,192 shares of the company’s stock valued at $351,427,000 after buying an additional 1,026,551 shares during the last quarter. Cantillon Capital Management LLC lifted its position in shares of Tencent Music Entertainment Group by 1.4% during the 4th quarter. Cantillon Capital Management LLC now owns 18,708,502 shares of the company’s stock worth $327,960,000 after buying an additional 256,286 shares in the last quarter. Finally, Overlook Investments LP bought a new position in shares of Tencent Music Entertainment Group during the 4th quarter worth approximately $278,022,000. Institutional investors own 24.32% of the company’s stock.

Tencent Music Entertainment Group Stock Up 2.0%

Tencent Music Entertainment Group stock opened at $8.84 on Friday. The firm has a 50 day moving average price of $8.95 and a 200-day moving average price of $10.73. The company has a quick ratio of 2.08, a current ratio of 1.74 and a debt-to-equity ratio of 0.13. Tencent Music Entertainment Group Sponsored ADR has a twelve month low of $7.94 and a twelve month high of $26.70. The company has a market capitalization of $13.91 billion, a P/E ratio of 10.91, a P/E/G ratio of 1.51 and a beta of 0.84.

Tencent Music Entertainment Group (NYSE:TME) last posted its quarterly earnings results on Tuesday, June 30th. The company reported $0.25 EPS for the quarter. Tencent Music Entertainment Group had a net margin of 26.27% and a return on equity of 11.53%. The company had revenue of $1.31 billion for the quarter. As a group, equities analysts predict that Tencent Music Entertainment Group Sponsored ADR will post 0.89 EPS for the current year.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on the company. Zacks Research raised Tencent Music Entertainment Group from a “strong sell” rating to a “hold” rating in a report on Tuesday, May 19th. Weiss Ratings upgraded Tencent Music Entertainment Group from a “hold (c-)” rating to a “hold (c)” rating in a report on Wednesday, July 1st. 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. Nomura set a $10.00 price objective on Tencent Music Entertainment Group and gave the company a “neutral” rating in a research note on Thursday. Finally, China Renaissance lowered Tencent Music Entertainment Group from a “buy” rating to a “hold” rating and set a $9.30 target price for the company. in a research report on Wednesday. Three equities research 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, Tencent Music Entertainment Group has a consensus rating of “Hold” and a consensus target price of $17.21.

Tencent Music Entertainment Group 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.