Cantillon Capital Management LLC Decreases Position in Tencent Music Entertainment Group Sponsored ADR $TME

Cantillon Capital Management LLC decreased its position in Tencent Music Entertainment Group Sponsored ADR (NYSE:TME) by 28.5% during the 1st quarter, Holdings Channel reports. The firm owned 13,382,595 shares of the company’s stock after selling 5,325,907 shares during the quarter. Cantillon Capital Management LLC’s holdings in Tencent Music Entertainment Group were worth $124,190,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. Schroder Investment Management Group raised its stake in shares of Tencent Music Entertainment Group by 30.0% during the 4th quarter. Schroder Investment Management Group now owns 80,480,078 shares of the company’s stock worth $1,410,816,000 after buying an additional 18,554,567 shares during the last quarter. Overlook Investments LP acquired a new stake in Tencent Music Entertainment Group in the 4th quarter valued at about $278,022,000. Norges Bank acquired a new stake in Tencent Music Entertainment Group in the 4th quarter valued at about $94,360,000. Green Court Capital Management Ltd increased its holdings in Tencent Music Entertainment Group by 467.2% during the 4th quarter. Green Court Capital Management Ltd now owns 5,893,162 shares of the company’s stock valued at $108,729,000 after acquiring an additional 4,854,084 shares in the last quarter. Finally, Invesco Ltd. increased its holdings in Tencent Music Entertainment Group by 195.9% during the 4th quarter. Invesco Ltd. now owns 6,991,937 shares of the company’s stock valued at $122,569,000 after acquiring an additional 4,629,058 shares in the last quarter. Hedge funds and other institutional investors own 24.32% of the company’s stock.

Tencent Music Entertainment Group Trading Up 0.1%

Tencent Music Entertainment Group stock opened at $9.13 on Monday. The stock has a 50-day moving average price of $8.90 and a 200 day moving average price of $11.81. Tencent Music Entertainment Group Sponsored ADR has a 52 week low of $7.94 and a 52 week high of $26.70. The stock has a market cap of $14.37 billion, a PE ratio of 11.41, a P/E/G ratio of 0.59 and a beta of 0.82. The company has a current ratio of 2.09, a quick ratio of 2.08 and a debt-to-equity ratio of 0.06.

Tencent Music Entertainment Group (NYSE:TME) last released its 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 company had revenue of $1.15 billion for the quarter. Equities research analysts predict that Tencent Music Entertainment Group Sponsored ADR will post 0.9 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on TME. Weiss Ratings raised shares of Tencent Music Entertainment Group from a “hold (c-)” rating to a “hold (c)” rating in a report on Wednesday, July 1st. Mizuho dropped their price objective on shares of Tencent Music Entertainment Group from $23.00 to $18.00 and set an “outperform” rating for the company in a research note on Wednesday, May 13th. Zacks Research upgraded Tencent Music Entertainment Group from a “strong sell” rating to a “hold” rating in a research report on Tuesday, May 19th. Finally, JPMorgan Chase & Co. reduced their target price on Tencent Music Entertainment Group from $12.00 to $10.00 and set a “neutral” rating on the stock in a research note on Thursday, May 14th. Six investment analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $21.44.

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.