Panview Capital Ltd Makes New Investment in Tencent Music Entertainment Group Sponsored ADR $TME

Panview Capital Ltd bought a new position in shares of Tencent Music Entertainment Group Sponsored ADR (NYSE:TME) in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 285,000 shares of the company’s stock, valued at approximately $6,652,000. Tencent Music Entertainment Group comprises approximately 2.8% of Panview Capital Ltd’s investment portfolio, making the stock its 9th biggest holding.

Other large investors have also recently made changes to their positions in the company. Natixis Advisors LLC bought a new stake in shares of Tencent Music Entertainment Group during the third quarter valued at approximately $561,000. Hel Ved Capital Management Ltd bought a new position in Tencent Music Entertainment Group in the third quarter worth approximately $1,685,000. Ramirez Asset Management Inc. grew its stake in Tencent Music Entertainment Group by 7.4% in the third quarter. Ramirez Asset Management Inc. now owns 116,188 shares of the company’s stock worth $2,712,000 after purchasing an additional 8,044 shares in the last quarter. William Blair Investment Management LLC purchased a new position in Tencent Music Entertainment Group during the 3rd quarter worth $88,175,000. Finally, APG Asset Management N.V. increased its holdings in Tencent Music Entertainment Group by 100.9% during the 3rd quarter. APG Asset Management N.V. now owns 307,371 shares of the company’s stock worth $7,174,000 after purchasing an additional 154,400 shares during the period. 24.32% of the stock is owned by hedge funds and other institutional investors.

Tencent Music Entertainment Group Trading Up 1.1%

TME opened at $13.62 on Monday. The company has a current ratio of 2.09, a quick ratio of 2.08 and a debt-to-equity ratio of 0.04. The firm has a market cap of $23.37 billion, a price-to-earnings ratio of 14.19, a PEG ratio of 0.86 and a beta of 0.56. Tencent Music Entertainment Group Sponsored ADR has a 12 month low of $11.71 and a 12 month high of $26.70. The stock has a fifty day moving average price of $16.23 and a 200-day moving average price of $19.81.

Analyst Ratings Changes

Several brokerages have recently commented on TME. Benchmark cut their price target on Tencent Music Entertainment Group from $28.00 to $25.00 and set a “buy” rating on the stock in a research note on Thursday, November 13th. Morgan Stanley lowered their price objective on shares of Tencent Music Entertainment Group from $27.50 to $25.00 and set an “overweight” rating for the company in a research note on Monday, December 22nd. Barclays raised their target price on shares of Tencent Music Entertainment Group from $27.00 to $28.00 and gave the company an “overweight” rating in a research report on Wednesday, November 12th. Finally, Weiss Ratings restated a “hold (c+)” rating on shares of Tencent Music Entertainment Group in a report on Monday, December 29th. One investment analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat.com, Tencent Music Entertainment Group currently has a consensus rating of “Moderate Buy” and a consensus target price of $25.79.

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.