BNP Paribas Financial Markets Boosts Position in Tencent Music Entertainment Group Sponsored ADR $TME

BNP Paribas Financial Markets increased its holdings in shares of Tencent Music Entertainment Group Sponsored ADR (NYSE:TME) by 26.5% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 2,320,609 shares of the company’s stock after purchasing an additional 486,682 shares during the quarter. BNP Paribas Financial Markets’ holdings in Tencent Music Entertainment Group were worth $40,680,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in TME. Smartleaf Asset Management LLC purchased a new stake in Tencent Music Entertainment Group during the third quarter worth approximately $31,000. Allworth Financial LP lifted its stake in Tencent Music Entertainment Group by 63.2% during the third quarter. Allworth Financial LP now owns 1,480 shares of the company’s stock worth $35,000 after purchasing an additional 573 shares during the last quarter. Jones Financial Companies Lllp lifted its stake in Tencent Music Entertainment Group by 137.4% during the third quarter. Jones Financial Companies Lllp now owns 2,414 shares of the company’s stock worth $57,000 after purchasing an additional 1,397 shares during the last quarter. EverSource Wealth Advisors LLC lifted its stake in 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 worth $59,000 after purchasing an additional 1,363 shares during the last quarter. Finally, Hantz Financial Services Inc. lifted its stake in Tencent Music Entertainment Group by 69.3% during the third quarter. Hantz Financial Services Inc. now owns 4,087 shares of the company’s stock worth $95,000 after purchasing an additional 1,673 shares during the last quarter. Hedge funds and other institutional investors own 24.32% of the company’s stock.

Tencent Music Entertainment Group Price Performance

Shares of NYSE TME opened at $9.13 on Thursday. 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 Sponsored ADR has a twelve month low of $8.44 and a twelve month high of $26.70. The stock has a 50 day moving average of $9.31 and a two-hundred day moving average of $13.92. The stock has a market cap of $14.15 billion, a P/E ratio of 11.42, a P/E/G ratio of 0.63 and a beta of 0.80.

Tencent Music Entertainment Group (NYSE:TME) last issued its quarterly earnings data on Tuesday, March 31st. The company reported $0.11 earnings per share 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 during the quarter. On average, research analysts forecast that Tencent Music Entertainment Group Sponsored ADR will post 0.89 earnings per share for the current year.

Tencent Music Entertainment Group Increases Dividend

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

Analyst Ratings Changes

TME has been the subject of a number of research reports. Morgan Stanley reiterated an “equal weight” rating on shares of Tencent Music Entertainment Group in a research note on Thursday, March 19th. JPMorgan Chase & Co. reduced their price objective on Tencent Music Entertainment Group from $12.00 to $10.00 and set a “neutral” rating for the company in a research note on Thursday, May 14th. Benchmark reiterated a “hold” rating on shares of Tencent Music Entertainment Group in a research note on Wednesday, March 18th. Weiss Ratings cut Tencent Music Entertainment Group from a “hold (c)” rating to a “hold (c-)” rating in a research note on Tuesday. Finally, Mizuho reduced their price objective on Tencent Music Entertainment Group from $23.00 to $18.00 and set an “outperform” rating for the company in a research note on Wednesday, May 13th. Six analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $21.44.

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.