Tencent Music Entertainment Group Sponsored ADR $TME Shares Bought by SG Americas Securities LLC

SG Americas Securities LLC grew its holdings in shares of Tencent Music Entertainment Group Sponsored ADR (NYSE:TME) by 12.9% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 612,367 shares of the company’s stock after buying an additional 70,169 shares during the period. SG Americas Securities LLC’s holdings in Tencent Music Entertainment Group were worth $5,683,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. Allworth Financial LP increased its position in Tencent Music Entertainment Group by 63.2% in the 3rd quarter. Allworth Financial LP now owns 1,480 shares of the company’s stock valued at $35,000 after acquiring an additional 573 shares during the period. Caitong International Asset Management Co. Ltd boosted its position in Tencent Music Entertainment Group by 5,777.1% during 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 during the period. Smartleaf Asset Management LLC boosted its position in Tencent Music Entertainment Group by 61.3% during the 4th quarter. Smartleaf Asset Management LLC now owns 2,123 shares of the company’s stock worth $37,000 after acquiring an additional 807 shares during the period. Kestra Advisory Services LLC bought a new position in shares of Tencent Music Entertainment Group in the fourth quarter worth $46,000. Finally, EverSource Wealth Advisors LLC grew its stake in shares of Tencent Music Entertainment Group by 83.0% in the second quarter. EverSource Wealth Advisors LLC now owns 3,005 shares of the company’s stock worth $59,000 after purchasing an additional 1,363 shares in the last quarter. 24.32% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on TME shares. UBS Group restated a “neutral” rating and set a $13.00 price objective (down from $26.00) on shares of Tencent Music Entertainment Group in a research note on Wednesday, March 18th. Benchmark reiterated a “hold” rating on shares of Tencent Music Entertainment Group in a research report on Wednesday, March 18th. Jefferies Financial Group reissued a “buy” rating and set a $23.00 target price on shares of Tencent Music Entertainment Group in a research note on Tuesday, March 17th. Mizuho dropped their price target on shares of Tencent Music Entertainment Group from $23.00 to $18.00 and set an “outperform” rating on the stock in a research report on Wednesday, May 13th. Finally, Weiss Ratings lowered shares of Tencent Music Entertainment Group from a “hold (c)” rating to a “hold (c-)” rating in a research note on Tuesday, June 2nd. Six investment analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the stock. Based on data from MarketBeat.com, Tencent Music Entertainment Group currently has an average rating of “Hold” and a consensus price target of $21.44.

Tencent Music Entertainment Group Stock Down 0.2%

TME opened at $8.37 on Monday. The company has a debt-to-equity ratio of 0.06, a quick ratio of 2.08 and a current ratio of 2.09. The company has a market capitalization of $13.18 billion, a PE ratio of 10.47, a P/E/G ratio of 0.55 and a beta of 0.80. The stock’s fifty day moving average is $9.11 and its 200-day moving average is $12.77. Tencent Music Entertainment Group Sponsored ADR has a one year low of $7.94 and a one year high of $26.70.

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. The business had revenue of $1.15 billion during the quarter. Tencent Music Entertainment Group had a return on equity of 11.20% and a net margin of 26.45%. On average, equities analysts predict that Tencent Music Entertainment Group Sponsored ADR will post 0.9 EPS 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.