Y Intercept Hong Kong Ltd Grows Stake in Tencent Music Entertainment Group Sponsored ADR $TME

Y Intercept Hong Kong Ltd raised its stake in Tencent Music Entertainment Group Sponsored ADR (NYSE:TME) by 75.0% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 763,551 shares of the company’s stock after acquiring an additional 327,295 shares during the quarter. Y Intercept Hong Kong Ltd’s holdings in Tencent Music Entertainment Group were worth $7,086,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also recently modified their holdings of TME. Leonteq Securities AG raised its holdings in shares of Tencent Music Entertainment Group by 341.1% in the 1st quarter. Leonteq Securities AG now owns 226,689 shares of the company’s stock worth $2,104,000 after purchasing an additional 175,292 shares during the period. Union Bancaire Privee UBP SA grew its holdings in Tencent Music Entertainment Group by 45.1% during the first quarter. Union Bancaire Privee UBP SA now owns 190,612 shares of the company’s stock valued at $1,769,000 after purchasing an additional 59,264 shares during the period. Aaron Wealth Advisors LLC purchased a new stake in Tencent Music Entertainment Group in the first quarter worth $229,000. Davis Investment Partners LLC purchased a new stake in Tencent Music Entertainment Group in the first quarter worth $481,000. Finally, SG Americas Securities LLC raised its stake in shares of Tencent Music Entertainment Group by 12.9% in the first quarter. SG Americas Securities LLC now owns 612,367 shares of the company’s stock valued at $5,683,000 after buying an additional 70,169 shares during the period. 24.32% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on the company. Barclays dropped their price target on Tencent Music Entertainment Group from $28.00 to $20.00 and set an “overweight” rating on the stock in a research report on Thursday, March 19th. Mizuho lowered their price objective on Tencent Music Entertainment Group from $23.00 to $18.00 and set an “outperform” rating on the stock in a research note on Wednesday, May 13th. Morgan Stanley reaffirmed an “equal weight” rating on shares of Tencent Music Entertainment Group in a report on Thursday, March 19th. JPMorgan Chase & Co. cut their target price 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. Finally, Jefferies Financial Group reiterated a “buy” rating and issued a $23.00 target price on shares of Tencent Music Entertainment Group in a research note on Tuesday, March 17th. Six research analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $21.44.

Tencent Music Entertainment Group Trading Up 0.0%

NYSE:TME opened at $8.63 on Friday. The company has a market cap of $13.59 billion, a P/E ratio of 10.79, a P/E/G ratio of 0.56 and a beta of 0.82. The stock’s fifty day moving average price is $8.98 and its two-hundred day moving average price is $12.47. Tencent Music Entertainment Group Sponsored ADR has a 1 year low of $7.94 and a 1 year high of $26.70. The company has a debt-to-equity ratio of 0.06, a current ratio of 2.09 and a quick ratio of 2.08.

Tencent Music Entertainment Group (NYSE:TME) last released its quarterly earnings data on Tuesday, March 31st. The company reported $0.11 earnings per share (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. As a group, analysts expect that Tencent Music Entertainment Group Sponsored ADR will post 0.9 EPS for the current year.

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.