49,372 Shares in Tencent Music Entertainment Group (NYSE:TME) Acquired by Janney Montgomery Scott LLC

Janney Montgomery Scott LLC bought a new position in shares of Tencent Music Entertainment Group (NYSE:TMEFree Report) in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 49,372 shares of the company’s stock, valued at approximately $445,000.

Several other institutional investors have also recently added to or reduced their stakes in the business. QRG Capital Management Inc. lifted its stake in Tencent Music Entertainment Group by 24.7% during the fourth quarter. QRG Capital Management Inc. now owns 14,624 shares of the company’s stock worth $132,000 after purchasing an additional 2,898 shares during the last quarter. Teacher Retirement System of Texas lifted its stake in Tencent Music Entertainment Group by 205.0% in the fourth quarter. Teacher Retirement System of Texas now owns 453,563 shares of the company’s stock valued at $4,087,000 after buying an additional 304,876 shares during the last quarter. E Fund Management Co. Ltd. lifted its stake in Tencent Music Entertainment Group by 2.6% in the fourth quarter. E Fund Management Co. Ltd. now owns 4,276,150 shares of the company’s stock valued at $38,528,000 after buying an additional 109,422 shares during the last quarter. Origin Asset Management LLP purchased a new stake in Tencent Music Entertainment Group in the fourth quarter valued at approximately $20,470,000. Finally, Blue Creek Capital Management Ltd purchased a new stake in Tencent Music Entertainment Group in the fourth quarter valued at approximately $4,440,000. Hedge funds and other institutional investors own 24.32% of the company’s stock.

Tencent Music Entertainment Group Trading Up 4.5 %

Shares of TME stock opened at $14.63 on Thursday. The business’s fifty day moving average price is $13.09 and its 200 day moving average price is $10.68. Tencent Music Entertainment Group has a 1-year low of $5.70 and a 1-year high of $15.77. The firm has a market capitalization of $25.11 billion, a PE ratio of 31.81, a P/E/G ratio of 1.05 and a beta of 0.72. The company has a debt-to-equity ratio of 0.09, a current ratio of 2.67 and a quick ratio of 2.67.

Tencent Music Entertainment Group (NYSE:TMEGet Free Report) last announced its quarterly earnings data on Monday, May 13th. The company reported $0.14 earnings per share for the quarter, topping analysts’ consensus estimates of $0.13 by $0.01. Tencent Music Entertainment Group had a return on equity of 9.85% and a net margin of 18.88%. The firm had revenue of $937.00 million for the quarter, compared to analyst estimates of $904.29 million. As a group, sell-side analysts forecast that Tencent Music Entertainment Group will post 0.62 EPS for the current fiscal year.

Tencent Music Entertainment Group Dividend Announcement

The company also recently announced an annual dividend, which will be paid on Thursday, June 27th. Shareholders of record on Friday, May 31st will be issued a $0.121 dividend. This represents a yield of 0.78%. The ex-dividend date is Friday, May 31st. Tencent Music Entertainment Group’s dividend payout ratio (DPR) is 26.09%.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on TME. HSBC boosted their price objective on Tencent Music Entertainment Group from $9.50 to $10.40 and gave the company a “hold” rating in a research note on Wednesday, March 20th. Morgan Stanley boosted their price objective on Tencent Music Entertainment Group from $11.00 to $13.50 and gave the company an “overweight” rating in a research note on Wednesday, March 20th. Citigroup raised Tencent Music Entertainment Group from a “neutral” rating to a “buy” rating and boosted their target price for the company from $9.00 to $13.00 in a report on Wednesday, March 20th. Benchmark boosted their target price on Tencent Music Entertainment Group from $14.00 to $19.00 and gave the company a “buy” rating in a report on Tuesday, May 14th. Finally, Mizuho boosted their target price on Tencent Music Entertainment Group from $13.00 to $15.00 and gave the company a “buy” rating in a report on Friday, May 10th. One equities research analyst has rated the stock with a hold rating and ten have given a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $12.75.

Get Our Latest Report on Tencent Music Entertainment Group

Tencent Music Entertainment Group Profile

(Free Report)

Tencent Music Entertainment Group operates online music entertainment platforms to provide music streaming, online karaoke, and live streaming services in the People's Republic of China. It offers QQ Music, Kugou Music, and Kuwo Music that enable users to discover music in personalized ways; long-form audio content, including audiobooks, podcasts and talk shows, as well as music-oriented video content comprising music videos, live performances, and short videos; and WeSing, which enables users to sing along from its library of karaoke songs and share their performances in audio or video formats with friends.

See Also

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Institutional Ownership by Quarter for Tencent Music Entertainment Group (NYSE:TME)

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