Tencent Music Entertainment Group Sponsored ADR $TME Stock: Robeco Institutional Asset Management B.V. Boosts Position

Robeco Institutional Asset Management B.V. boosted its stake in shares of Tencent Music Entertainment Group Sponsored ADR (NYSE:TME) by 26.2% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,713,005 shares of the company’s stock after buying an additional 355,462 shares during the period. Robeco Institutional Asset Management B.V.’s holdings in Tencent Music Entertainment Group were worth $13,584,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in the stock. Commonwealth Financial Services LLC bought a new stake in Tencent Music Entertainment Group in the third quarter worth $181,000. Sumitomo Mitsui DS Asset Management Company Ltd increased its holdings in shares of Tencent Music Entertainment Group by 11.6% during the third quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 46,242 shares of the company’s stock valued at $367,000 after acquiring an additional 4,818 shares in the last quarter. Encompass More Asset Management bought a new position in shares of Tencent Music Entertainment Group during the third quarter valued at $92,000. Vontobel Holding Ltd. raised its position in shares of Tencent Music Entertainment Group by 8.0% in the 3rd quarter. Vontobel Holding Ltd. now owns 202,003 shares of the company’s stock worth $1,602,000 after purchasing an additional 15,012 shares during the last quarter. Finally, Cyndeo Wealth Partners LLC purchased a new position in shares of Tencent Music Entertainment Group in the 3rd quarter worth about $111,000. Hedge funds and other institutional investors own 24.32% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on the stock. UBS Group set a $15.00 price target on shares of Tencent Music Entertainment Group in a research note on Wednesday, August 12th. Mizuho reduced their price objective on shares of Tencent Music Entertainment Group from $18.00 to $15.00 and set an “outperform” rating for the company in a research note on Wednesday, August 12th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Tencent Music Entertainment Group in a report on Monday, September 28th. China Renaissance upgraded shares of Tencent Music Entertainment Group from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, October 14th. Finally, Nomura set a $10.00 target price on shares of Tencent Music Entertainment Group and gave the stock a “neutral” rating in a research note on Thursday, August 13th. One analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and nine have issued a Hold rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $17.21.

Tencent Music Entertainment Group Price Performance

NYSE TME opened at $8.51 on Friday. Tencent Music Entertainment Group Sponsored ADR has a one year low of $7.66 and a one year high of $23.85. The stock has a 50-day moving average of $8.31 and a 200 day moving average of $8.83. The company has a market capitalization of $13.40 billion, a price-to-earnings ratio of 10.00, a PEG ratio of 1.51 and a beta of 0.78. The company has a debt-to-equity ratio of 0.13, a quick ratio of 1.74 and a current ratio of 1.74.

Tencent Music Entertainment Group (NYSE:TME) last issued its earnings results on Tuesday, June 30th. The company reported $0.25 earnings per share for the quarter. The business had revenue of $1.31 billion during the quarter. Tencent Music Entertainment Group had a return on equity of 11.53% and a net margin of 26.27%. On average, sell-side analysts forecast that Tencent Music Entertainment Group Sponsored ADR will post 0.87 EPS for the current year.

Tencent Music Entertainment Group Profile

Tencent Music Entertainment Group is a China-based online music and audio entertainment company. Established in 2016 through the combination of Tencent’s online music businesses, the company operates digital platforms that provide music streaming, audio content and interactive entertainment services.

Its principal services include QQ Music, Kugou Music and Kuwo Music, which offer licensed songs, playlists, music videos, podcasts and other audio programming. Tencent Music also operates WeSing, a social karaoke platform that enables users to sing, record and share performances.