Calamos Wealth Management LLC Invests $2.55 Million in Tencent Music Entertainment Group Sponsored ADR $TME

Calamos Wealth Management LLC purchased a new stake in shares of Tencent Music Entertainment Group Sponsored ADR (NYSE:TME) during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 109,101 shares of the company’s stock, valued at approximately $2,546,000.

Other large investors also recently bought and sold shares of the company. Banque Transatlantique SA bought a new position in Tencent Music Entertainment Group during the 1st quarter valued at about $46,000. EverSource Wealth Advisors LLC raised its holdings in shares of Tencent Music Entertainment Group by 83.0% during the second quarter. EverSource Wealth Advisors LLC now owns 3,005 shares of the company’s stock valued at $59,000 after purchasing an additional 1,363 shares during the last quarter. MAI Capital Management bought a new position in Tencent Music Entertainment Group during the second quarter valued at approximately $73,000. iA Global Asset Management Inc. bought a new position in Tencent Music Entertainment Group during the second quarter valued at approximately $131,000. Finally, Farther Finance Advisors LLC grew its position in Tencent Music Entertainment Group by 424.1% in the 3rd quarter. Farther Finance Advisors LLC now owns 7,159 shares of the company’s stock worth $167,000 after purchasing an additional 5,793 shares during the period. 24.32% of the stock is currently owned by institutional investors.

Tencent Music Entertainment Group Price Performance

NYSE TME opened at $17.68 on Wednesday. The company has a current ratio of 2.09, a quick ratio of 2.08 and a debt-to-equity ratio of 0.04. Tencent Music Entertainment Group Sponsored ADR has a 12 month low of $10.26 and a 12 month high of $26.70. The stock has a market cap of $30.33 billion, a price-to-earnings ratio of 18.41, a PEG ratio of 1.25 and a beta of 0.48. The company’s 50 day moving average is $19.47 and its two-hundred day moving average is $21.48.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on TME. Benchmark lowered their price target on Tencent Music Entertainment Group from $28.00 to $25.00 and set a “buy” rating on the stock in a report on Thursday, November 13th. Barclays increased their target price on Tencent Music Entertainment Group from $27.00 to $28.00 and gave the company an “overweight” rating in a report on Wednesday, November 12th. Wall Street Zen lowered shares of Tencent Music Entertainment Group from a “buy” rating to a “hold” rating in a research report on Saturday, November 8th. Zacks Research cut shares of Tencent Music Entertainment Group from a “strong-buy” rating to a “hold” rating in a research note on Monday, October 13th. Finally, Weiss Ratings restated a “hold (c+)” rating on shares of Tencent Music Entertainment Group in a research report on Monday. One analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and three have given a Hold rating to the company’s stock. According to data from MarketBeat, Tencent Music Entertainment Group presently has a consensus rating of “Moderate Buy” and a consensus price target of $25.79.

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.