Tencent Music Entertainment Group Sponsored ADR $TME is Krane Funds Advisors LLC’s 2nd Largest Position

Krane Funds Advisors LLC lifted its position in shares of Tencent Music Entertainment Group Sponsored ADR (NYSE:TME) by 5.4% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 20,047,192 shares of the company’s stock after purchasing an additional 1,026,551 shares during the period. Tencent Music Entertainment Group accounts for approximately 11.4% of Krane Funds Advisors LLC’s portfolio, making the stock its 2nd largest position. Krane Funds Advisors LLC’s holdings in Tencent Music Entertainment Group were worth $351,427,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of TME. Norges Bank bought a new position in Tencent Music Entertainment Group in the fourth quarter worth about $94,360,000. Green Court Capital Management Ltd raised its stake in Tencent Music Entertainment Group by 467.2% in the fourth quarter. Green Court Capital Management Ltd now owns 5,893,162 shares of the company’s stock worth $108,729,000 after buying an additional 4,854,084 shares in the last quarter. Sumitomo Mitsui Trust Group Inc. raised its stake in Tencent Music Entertainment Group by 312.3% in the fourth quarter. Sumitomo Mitsui Trust Group Inc. now owns 5,764,321 shares of the company’s stock worth $101,049,000 after buying an additional 4,366,226 shares in the last quarter. William Blair Investment Management LLC bought a new position in Tencent Music Entertainment Group in the third quarter worth about $88,175,000. Finally, Massachusetts Financial Services Co. MA raised its stake in Tencent Music Entertainment Group by 117.4% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 4,907,677 shares of the company’s stock worth $86,032,000 after buying an additional 2,649,833 shares in the last quarter. 24.32% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on TME shares. Zacks Research raised shares of Tencent Music Entertainment Group from a “strong sell” rating to a “hold” rating in a research note on Tuesday, May 19th. Benchmark reissued a “hold” rating on shares of Tencent Music Entertainment Group in a research note on Wednesday, March 18th. Daiwa Securities Group reissued a “hold” rating and issued a $12.00 price target on shares of Tencent Music Entertainment Group in a research note on Wednesday, March 18th. Barclays decreased their price target on shares of Tencent Music Entertainment Group from $28.00 to $20.00 and set an “overweight” rating for the company in a research note on Thursday, March 19th. Finally, Jefferies Financial Group reissued a “buy” rating and issued a $23.00 price target on shares of Tencent Music Entertainment Group in a research note on Tuesday, March 17th. Six research analysts have rated the stock with a Buy rating and eight have given a Hold rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $21.44.

Tencent Music Entertainment Group Price Performance

Shares of NYSE TME opened at $9.10 on Monday. Tencent Music Entertainment Group Sponsored ADR has a fifty-two week low of $8.44 and a fifty-two week high of $26.70. The company has a 50 day simple moving average of $9.28 and a two-hundred day simple moving average of $13.78. The company has a market capitalization of $14.09 billion, a price-to-earnings ratio of 11.37, a P/E/G ratio of 0.59 and a beta of 0.80. The company has a debt-to-equity ratio of 0.06, a quick ratio of 2.08 and a current ratio of 2.09.

Tencent Music Entertainment Group (NYSE:TME) last announced its earnings results on Tuesday, March 31st. The company reported $0.11 earnings per share for the quarter. Tencent Music Entertainment Group had a net margin of 26.45% and a return on equity of 11.20%. The business had revenue of $1.15 billion during the quarter. Analysts expect that Tencent Music Entertainment Group Sponsored ADR will post 0.9 EPS 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. Shareholders of record on Thursday, April 2nd were paid a dividend of $0.24 per share. This is a positive change from Tencent Music Entertainment Group’s previous annual dividend of $0.18. This represents a dividend yield of 262.0%. The ex-dividend date of this dividend was Thursday, April 2nd. Tencent Music Entertainment Group’s payout ratio is 28.75%.

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.