Leonteq Securities AG Acquires 175,292 Shares of Tencent Music Entertainment Group Sponsored ADR $TME

Leonteq Securities AG increased its holdings in shares of Tencent Music Entertainment Group Sponsored ADR (NYSE:TME) by 341.1% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 226,689 shares of the company’s stock after purchasing an additional 175,292 shares during the period. Leonteq Securities AG’s holdings in Tencent Music Entertainment Group were worth $2,104,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in TME. Schroder Investment Management Group boosted its holdings 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 in the last quarter. Overlook Investments LP acquired a new position in shares of Tencent Music Entertainment Group during the 4th quarter valued at $278,022,000. Norges Bank bought a new position in Tencent Music Entertainment Group during the fourth quarter worth $94,360,000. Green Court Capital Management Ltd grew its holdings 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 purchasing an additional 4,854,084 shares during the period. Finally, Invesco Ltd. grew its holdings in Tencent Music Entertainment Group by 195.9% in the fourth quarter. Invesco Ltd. now owns 6,991,937 shares of the company’s stock worth $122,569,000 after purchasing an additional 4,629,058 shares during the period. 24.32% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several brokerages have recently weighed in on TME. Jefferies Financial Group reiterated a “buy” rating and set a $23.00 price objective on shares of Tencent Music Entertainment Group in a report on Tuesday, March 17th. Weiss Ratings upgraded Tencent Music Entertainment Group from a “hold (c-)” rating to a “hold (c)” rating in a research note on Wednesday. Mizuho decreased their target price on Tencent Music Entertainment Group from $23.00 to $18.00 and set an “outperform” rating for the company in a research report on Wednesday, May 13th. UBS Group reaffirmed a “neutral” rating and set a $13.00 price target (down from $26.00) on shares of Tencent Music Entertainment Group in a research note on Wednesday, March 18th. Finally, Daiwa Securities Group reiterated a “hold” rating and issued a $12.00 price target on shares of Tencent Music Entertainment Group in a report on Wednesday, March 18th. Six equities research analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the company. According to data from MarketBeat, Tencent Music Entertainment Group presently has a consensus rating of “Hold” and a consensus target price of $21.44.

Tencent Music Entertainment Group Stock Down 0.3%

Tencent Music Entertainment Group stock opened at $8.63 on Friday. The firm has a market capitalization of $13.59 billion, a price-to-earnings ratio of 10.79, a price-to-earnings-growth ratio of 0.56 and a beta of 0.82. The firm’s fifty day moving average price is $9.00 and its two-hundred day moving average price is $12.49. Tencent Music Entertainment Group Sponsored ADR has a 1-year low of $7.94 and a 1-year high of $26.70. 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 posted its earnings results on Tuesday, March 31st. The company reported $0.11 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 during the quarter. On average, equities research analysts predict 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.