Tencent Music Entertainment Group Sponsored ADR $TME Shares Acquired by Green Court Capital Management Ltd

Green Court Capital Management Ltd increased its holdings in shares of Tencent Music Entertainment Group Sponsored ADR (NYSE:TME) by 467.2% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 5,893,162 shares of the company’s stock after purchasing an additional 4,854,084 shares during the period. Tencent Music Entertainment Group makes up about 41.8% of Green Court Capital Management Ltd’s holdings, making the stock its biggest position. Green Court Capital Management Ltd’s holdings in Tencent Music Entertainment Group were worth $108,729,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. Robeco Institutional Asset Management B.V. grew its stake in Tencent Music Entertainment Group by 7.3% during the fourth quarter. Robeco Institutional Asset Management B.V. now owns 5,706,740 shares of the company’s stock worth $100,039,000 after purchasing an additional 387,109 shares during the period. SG Americas Securities LLC grew its stake in Tencent Music Entertainment Group by 85.7% in the fourth quarter. SG Americas Securities LLC now owns 542,198 shares of the company’s stock valued at $9,505,000 after acquiring an additional 250,261 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in Tencent Music Entertainment Group by 414.3% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,130,608 shares of the company’s stock valued at $19,820,000 after acquiring an additional 910,767 shares during the period. Vanguard Group Inc. grew its stake in Tencent Music Entertainment Group by 1.4% in the fourth quarter. Vanguard Group Inc. now owns 21,455,738 shares of the company’s stock valued at $376,119,000 after acquiring an additional 293,385 shares during the period. Finally, OPTIMAS CAPITAL Ltd acquired a new stake in Tencent Music Entertainment Group in the third quarter valued at approximately $9,150,000. Institutional investors and hedge funds own 24.32% of the company’s stock.

Tencent Music Entertainment Group Stock Down 1.1%

TME stock opened at $9.11 on Friday. Tencent Music Entertainment Group Sponsored ADR has a twelve month low of $8.44 and a twelve month 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 0.06. The stock’s 50 day moving average is $9.37 and its 200-day moving average is $14.22. The firm has a market capitalization of $14.10 billion, a PE ratio of 11.38, a P/E/G ratio of 0.60 and a beta of 0.81.

Tencent Music Entertainment Group (NYSE:TME) last posted its earnings results 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 for the quarter. Sell-side analysts expect that Tencent Music Entertainment Group Sponsored ADR will post 0.9 EPS for the current fiscal year.

Tencent Music Entertainment Group Increases Dividend

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

Wall Street Analyst Weigh In

A number of equities research analysts have commented on the company. Zacks Research raised Tencent Music Entertainment Group from a “strong sell” rating to a “hold” rating in a research note on Tuesday, May 19th. 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. Barclays reduced their price objective on Tencent Music Entertainment Group from $28.00 to $20.00 and set an “overweight” rating for the company in a research note on Thursday, March 19th. Daiwa Securities Group reissued a “hold” rating and issued a $12.00 price objective on shares of Tencent Music Entertainment Group in a research note on Wednesday, March 18th. Finally, 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. Six equities research analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, Tencent Music Entertainment Group presently has a consensus rating of “Hold” and an average price target 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.