Temasek Holdings Private Ltd Purchases 1,517,481 Shares of Tencent Music Entertainment Group Sponsored ADR $TME

Temasek Holdings Private Ltd lifted its position in Tencent Music Entertainment Group Sponsored ADR (NYSE:TME) by 145.7% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,559,173 shares of the company’s stock after acquiring an additional 1,517,481 shares during the quarter. Temasek Holdings Private Ltd’s holdings in Tencent Music Entertainment Group were worth $44,862,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Smartleaf Asset Management LLC bought a new stake in shares of Tencent Music Entertainment Group in the 3rd quarter worth $31,000. Allworth Financial LP grew its stake in shares of Tencent Music Entertainment Group by 63.2% in the 3rd quarter. Allworth Financial LP now owns 1,480 shares of the company’s stock worth $35,000 after acquiring an additional 573 shares in the last quarter. Caitong International Asset Management Co. Ltd grew its stake in shares of Tencent Music Entertainment Group by 5,777.1% in the 4th quarter. Caitong International Asset Management Co. Ltd now owns 2,057 shares of the company’s stock worth $36,000 after acquiring an additional 2,022 shares in the last quarter. Jones Financial Companies Lllp grew its stake in shares of Tencent Music Entertainment Group by 137.4% in the 3rd quarter. Jones Financial Companies Lllp now owns 2,414 shares of the company’s stock worth $57,000 after acquiring an additional 1,397 shares in the last quarter. Finally, Kestra Advisory Services LLC bought a new stake in shares of Tencent Music Entertainment Group in the 4th quarter worth $46,000. Institutional investors own 24.32% of the company’s stock.

Analyst Upgrades and Downgrades

TME has been the subject of several recent analyst reports. 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 note on Wednesday, March 18th. JPMorgan Chase & Co. reduced their target price on shares of Tencent Music Entertainment Group from $12.00 to $10.00 and set a “neutral” rating for the company in a research note on Thursday, May 14th. Morgan Stanley reissued an “equal weight” rating on shares of Tencent Music Entertainment Group in a report on Thursday, March 19th. Jefferies Financial Group reissued a “buy” rating and issued a $23.00 price target on shares of Tencent Music Entertainment Group in a report on Tuesday, March 17th. Finally, Zacks Research raised shares of Tencent Music Entertainment Group from a “strong sell” rating to a “hold” rating in a report on Tuesday, May 19th. Six analysts have rated the stock with a Buy rating and eight have given a Hold rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $21.44.

Tencent Music Entertainment Group Trading Up 0.2%

Shares of Tencent Music Entertainment Group stock opened at $9.24 on Tuesday. Tencent Music Entertainment Group Sponsored ADR has a 12-month low of $8.44 and a 12-month high of $26.70. The company has a market cap of $14.54 billion, a price-to-earnings ratio of 11.54, a PEG ratio of 0.60 and a beta of 0.80. The company has a current ratio of 2.09, a quick ratio of 2.08 and a debt-to-equity ratio of 0.06. The company’s 50-day moving average price is $9.27 and its 200-day moving average price is $13.39.

Tencent Music Entertainment Group (NYSE:TME) last announced its quarterly earnings results on Tuesday, March 31st. The company reported $0.11 earnings per share (EPS) for the quarter. Tencent Music Entertainment Group had a net margin of 26.45% and a return on equity of 11.20%. The firm had revenue of $1.15 billion for the quarter. On average, equities analysts expect that Tencent Music Entertainment Group Sponsored ADR will post 0.9 earnings per share for the current fiscal year.

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.