Public Employees Retirement System of Ohio Buys 714,637 Shares of Tencent Music Entertainment Group Sponsored ADR $TME

Public Employees Retirement System of Ohio grew its stake in shares of Tencent Music Entertainment Group Sponsored ADR (NYSE:TME) by 47.6% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 2,214,815 shares of the company’s stock after purchasing an additional 714,637 shares during the period. Public Employees Retirement System of Ohio owned approximately 0.14% of Tencent Music Entertainment Group worth $20,553,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. Schroder Investment Management Group boosted its position in 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 valued at $1,410,816,000 after acquiring an additional 18,554,567 shares in the last quarter. Vanguard Group Inc. lifted its stake in shares of Tencent Music Entertainment Group by 1.4% in the 4th quarter. Vanguard Group Inc. now owns 21,455,738 shares of the company’s stock valued at $376,119,000 after purchasing an additional 293,385 shares during the period. Krane Funds Advisors LLC boosted its position in shares of Tencent Music Entertainment Group by 5.4% during the fourth quarter. Krane Funds Advisors LLC now owns 20,047,192 shares of the company’s stock valued at $351,427,000 after purchasing an additional 1,026,551 shares in the last quarter. Cantillon Capital Management LLC grew its stake in Tencent Music Entertainment Group by 1.4% in the fourth quarter. Cantillon Capital Management LLC now owns 18,708,502 shares of the company’s stock worth $327,960,000 after purchasing an additional 256,286 shares during the period. Finally, Overlook Investments LP bought a new position in Tencent Music Entertainment Group in the fourth quarter worth $278,022,000. 24.32% of the stock is owned by institutional investors.

Tencent Music Entertainment Group Stock Performance

TME opened at $8.86 on Friday. 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 has a market cap of $13.94 billion, a price-to-earnings ratio of 11.07, a PEG ratio of 0.58 and a beta of 0.82. The company’s 50 day moving average is $8.90 and its 200 day moving average is $11.54. Tencent Music Entertainment Group Sponsored ADR has a 12-month low of $7.94 and a 12-month high of $26.70.

Tencent Music Entertainment Group (NYSE:TME) last announced its earnings results on Tuesday, March 31st. The company reported $0.11 EPS for the quarter. The business had revenue of $1.15 billion during the quarter. Tencent Music Entertainment Group had a net margin of 26.45% and a return on equity of 11.20%. On average, equities research analysts predict that Tencent Music Entertainment Group Sponsored ADR will post 0.89 EPS for the current year.

Wall Street Analysts Forecast Growth

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

About Tencent Music Entertainment Group

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.