Tencent Music Entertainment Group Sponsored ADR $TME Shares Sold by Jupiter Asset Management Ltd.

Jupiter Asset Management Ltd. lowered its stake in shares of Tencent Music Entertainment Group Sponsored ADR (NYSE:TME) by 32.6% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 300,695 shares of the company’s stock after selling 145,302 shares during the quarter. Jupiter Asset Management Ltd.’s holdings in Tencent Music Entertainment Group were worth $5,271,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in the business. Geode Capital Management LLC raised its stake in Tencent Music Entertainment Group by 6.1% during the 4th quarter. Geode Capital Management LLC now owns 3,831,308 shares of the company’s stock valued at $66,568,000 after acquiring an additional 218,949 shares in the last quarter. Genus Capital Management Inc. raised its stake in Tencent Music Entertainment Group by 19.6% during the 4th quarter. Genus Capital Management Inc. now owns 24,377 shares of the company’s stock valued at $427,000 after acquiring an additional 4,000 shares in the last quarter. Hantz Financial Services Inc. raised its stake in Tencent Music Entertainment Group by 99.6% during the 4th quarter. Hantz Financial Services Inc. now owns 8,159 shares of the company’s stock valued at $143,000 after acquiring an additional 4,072 shares in the last quarter. Swedbank AB raised its stake in Tencent Music Entertainment Group by 7.0% during the 4th quarter. Swedbank AB now owns 610,919 shares of the company’s stock valued at $10,709,000 after acquiring an additional 40,000 shares in the last quarter. Finally, Global Retirement Partners LLC raised its stake in Tencent Music Entertainment Group by 1,494.9% during the 4th quarter. Global Retirement Partners LLC now owns 30,032 shares of the company’s stock valued at $526,000 after acquiring an additional 28,149 shares in the last quarter. Institutional investors own 24.32% of the company’s stock.

Tencent Music Entertainment Group Stock Up 1.6%

TME opened at $9.23 on Friday. Tencent Music Entertainment Group Sponsored ADR has a one year low of $8.44 and a one year high of $26.70. 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 stock’s fifty day moving average is $9.35 and its 200-day moving average is $14.18. The company has a market capitalization of $14.30 billion, a PE ratio of 11.54, a P/E/G ratio of 0.60 and a beta of 0.81.

Tencent Music Entertainment Group (NYSE:TME) last posted its quarterly earnings data on Tuesday, March 31st. The company reported $0.11 EPS for the quarter. Tencent Music Entertainment Group had a return on equity of 11.20% and a net margin of 26.45%.The company had revenue of $1.15 billion for the quarter. 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 Increases Dividend

The company also recently disclosed an annual dividend, which was paid on Thursday, April 23rd. Stockholders of record on Thursday, April 2nd were paid a $0.24 dividend. The ex-dividend date of this dividend was Thursday, April 2nd. This represents a dividend yield of 262.0%. This is a boost from Tencent Music Entertainment Group’s previous annual dividend of $0.18. Tencent Music Entertainment Group’s dividend payout ratio (DPR) is presently 28.75%.

Wall Street Analyst Weigh In

TME has been the topic of several recent analyst reports. Benchmark reaffirmed a “hold” rating on shares of Tencent Music Entertainment Group in a research note on Wednesday, March 18th. UBS Group reaffirmed a “neutral” rating and set a $13.00 target price (down from $26.00) on shares of Tencent Music Entertainment Group in a research note on Wednesday, March 18th. Zacks Research raised Tencent Music Entertainment Group from a “strong sell” rating to a “hold” rating in a research note on Tuesday, May 19th. Barclays cut their target price on Tencent Music Entertainment Group from $28.00 to $20.00 and set an “overweight” rating on the stock in a research note on Thursday, March 19th. Finally, Morgan Stanley reaffirmed an “equal weight” rating on shares of Tencent Music Entertainment Group in a research note on Thursday, March 19th. Six analysts have rated the stock with a Buy rating and eight have given a Hold rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus 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.