Tencent Music Entertainment Group Sponsored ADR $TME is Green Court Capital Management Ltd’s 3rd Largest Position

Green Court Capital Management Ltd lifted its stake in shares of Tencent Music Entertainment Group Sponsored ADR (NYSE:TME) by 93.1% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 1,039,078 shares of the company’s stock after buying an additional 501,078 shares during the quarter. Tencent Music Entertainment Group comprises 11.0% of Green Court Capital Management Ltd’s portfolio, making the stock its 3rd largest position. Green Court Capital Management Ltd owned approximately 0.06% of Tencent Music Entertainment Group worth $24,252,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Smartleaf Asset Management LLC purchased a new stake in Tencent Music Entertainment Group in the third quarter worth about $31,000. Global Retirement Partners LLC boosted its holdings in Tencent Music Entertainment Group by 1,326.5% in the third quarter. Global Retirement Partners LLC now owns 1,883 shares of the company’s stock worth $44,000 after acquiring an additional 1,751 shares in the last quarter. Jones Financial Companies Lllp grew its stake in shares of Tencent Music Entertainment Group by 137.4% in the third 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 during the last quarter. EverSource Wealth Advisors LLC increased its holdings in shares of Tencent Music Entertainment Group by 83.0% during the second quarter. EverSource Wealth Advisors LLC now owns 3,005 shares of the company’s stock valued at $59,000 after acquiring an additional 1,363 shares in the last quarter. Finally, MAI Capital Management purchased a new position in shares of Tencent Music Entertainment Group in the 2nd quarter worth about $73,000. Hedge funds and other institutional investors own 24.32% of the company’s stock.

Analyst Ratings Changes

A number of analysts have weighed in on TME shares. Benchmark reduced their price objective on shares of Tencent Music Entertainment Group from $28.00 to $25.00 and set a “buy” rating for the company in a research note on Thursday, November 13th. Barclays boosted their price objective on shares of Tencent Music Entertainment Group from $27.00 to $28.00 and gave the stock an “overweight” rating in a report on Wednesday, November 12th. Morgan Stanley dropped their target price on shares of Tencent Music Entertainment Group from $27.50 to $25.00 and set an “overweight” rating on the stock in a report on Monday, December 22nd. Bank of America started coverage on Tencent Music Entertainment Group in a research note on Tuesday, October 28th. They set a “neutral” rating and a $25.00 price target for the company. Finally, Weiss Ratings reiterated a “hold (c+)” rating on shares of Tencent Music Entertainment Group in a research note on Monday, December 29th. One investment analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat, Tencent Music Entertainment Group has an average rating of “Moderate Buy” and a consensus price target of $25.79.

Tencent Music Entertainment Group Stock Up 2.6%

NYSE TME opened at $16.34 on Monday. Tencent Music Entertainment Group Sponsored ADR has a 52 week low of $11.71 and a 52 week high of $26.70. The company has a quick ratio of 2.08, a current ratio of 2.09 and a debt-to-equity ratio of 0.04. The company has a market capitalization of $28.04 billion, a P/E ratio of 17.02, a price-to-earnings-growth ratio of 1.03 and a beta of 0.53. The stock’s 50-day moving average price is $17.42 and its 200-day moving average price is $20.91.

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.