XY Capital Ltd Increases Stake in Tencent Music Entertainment Group Sponsored ADR $TME

XY Capital Ltd boosted its holdings in shares of Tencent Music Entertainment Group Sponsored ADR (NYSE:TME) by 251.3% in the first quarter, Holdings Channel.com reports. The fund owned 338,618 shares of the company’s stock after buying an additional 242,218 shares during the quarter. Tencent Music Entertainment Group comprises 3.1% of XY Capital Ltd’s holdings, making the stock its 9th largest holding. XY Capital Ltd’s holdings in Tencent Music Entertainment Group were worth $3,142,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Schroder Investment Management Group boosted its position in shares of Tencent Music Entertainment Group by 30.0% in the 4th quarter. Schroder Investment Management Group now owns 80,480,078 shares of the company’s stock worth $1,410,816,000 after purchasing an additional 18,554,567 shares during the last quarter. Vanguard Group Inc. increased its holdings 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 purchasing an additional 293,385 shares during the last quarter. Krane Funds Advisors LLC lifted its stake in Tencent Music Entertainment Group by 5.4% in the fourth quarter. Krane Funds Advisors LLC now owns 20,047,192 shares of the company’s stock valued at $351,427,000 after buying an additional 1,026,551 shares during the period. Cantillon Capital Management LLC lifted its stake in Tencent Music Entertainment Group by 1.4% in the fourth quarter. Cantillon Capital Management LLC now owns 18,708,502 shares of the company’s stock valued at $327,960,000 after buying an additional 256,286 shares during the period. Finally, Overlook Investments LP bought a new position in Tencent Music Entertainment Group during the fourth quarter worth about $278,022,000. Institutional investors own 24.32% of the company’s stock.

Tencent Music Entertainment Group Price Performance

Shares of NYSE TME opened at $8.95 on Wednesday. The firm has a market cap of $14.09 billion, a PE ratio of 11.19, a PEG ratio of 0.60 and a beta of 0.82. 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 1-year low of $7.94 and a 1-year high of $26.70. The company has a fifty day moving average price of $8.90 and a 200 day moving average price of $11.69.

Tencent Music Entertainment Group (NYSE:TME) last released its earnings results 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 firm had revenue of $1.15 billion during the quarter. Research analysts predict that Tencent Music Entertainment Group Sponsored ADR will post 0.9 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on TME. Weiss Ratings raised Tencent Music Entertainment Group from a “hold (c-)” rating to a “hold (c)” rating in a research note on Wednesday, July 1st. JPMorgan Chase & Co. reduced their price objective on shares of Tencent Music Entertainment Group from $12.00 to $10.00 and set a “neutral” rating on the stock in a research note on Thursday, May 14th. Mizuho decreased their price objective on shares of Tencent Music Entertainment Group from $23.00 to $18.00 and set an “outperform” rating for the company in a report on Wednesday, May 13th. Finally, Zacks Research raised shares of Tencent Music Entertainment Group from a “strong sell” rating to a “hold” rating in a research note on Tuesday, May 19th. Six analysts have rated the stock with a Buy rating and eight have given a Hold rating to the stock. According to MarketBeat.com, Tencent Music Entertainment Group has an average rating of “Hold” and a consensus price target 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.