AIA Group Ltd Acquires 100,070 Shares of Tencent Music Entertainment Group Sponsored ADR $TME

AIA Group Ltd grew its holdings in shares of Tencent Music Entertainment Group Sponsored ADR (NYSE:TME) by 38.7% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 358,975 shares of the company’s stock after acquiring an additional 100,070 shares during the quarter. AIA Group Ltd’s holdings in Tencent Music Entertainment Group were worth $3,331,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Allworth Financial LP lifted its stake in shares of Tencent Music Entertainment Group by 63.2% in the 3rd quarter. Allworth Financial LP now owns 1,480 shares of the company’s stock valued at $35,000 after acquiring an additional 573 shares during the last quarter. O Shaughnessy Asset Management LLC raised its position in Tencent Music Entertainment Group by 0.5% in the fourth quarter. O Shaughnessy Asset Management LLC now owns 132,635 shares of the company’s stock valued at $2,325,000 after purchasing an additional 610 shares during the last quarter. Vise Technologies Inc. boosted its stake in shares of Tencent Music Entertainment Group by 5.0% during the fourth quarter. Vise Technologies Inc. now owns 14,648 shares of the company’s stock valued at $257,000 after purchasing an additional 692 shares in the last quarter. Smartleaf Asset Management LLC boosted its stake in shares of Tencent Music Entertainment Group by 61.3% during the fourth quarter. Smartleaf Asset Management LLC now owns 2,123 shares of the company’s stock valued at $37,000 after purchasing an additional 807 shares in the last quarter. Finally, Cerity Partners LLC grew its holdings in shares of Tencent Music Entertainment Group by 1.8% during the fourth quarter. Cerity Partners LLC now owns 52,583 shares of the company’s stock worth $922,000 after purchasing an additional 929 shares during the last quarter. 24.32% of the stock is owned by institutional investors.

Analysts Set New Price Targets

TME has been the subject of a number of research reports. Mizuho dropped 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. Weiss Ratings raised shares of 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. Finally, Zacks Research raised Tencent Music Entertainment Group from a “strong sell” rating to a “hold” rating in a research report on Tuesday, May 19th. 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.com, Tencent Music Entertainment Group currently has an average rating of “Hold” and a consensus target price of $21.44.

Tencent Music Entertainment Group Trading Up 0.1%

NYSE:TME opened at $9.13 on Monday. Tencent Music Entertainment Group Sponsored ADR has a 52 week low of $7.94 and a 52 week high of $26.70. The company has a debt-to-equity ratio of 0.06, a quick ratio of 2.08 and a current ratio of 2.09. The firm’s fifty day moving average is $8.90 and its 200-day moving average is $11.81. The firm has a market cap of $14.37 billion, a P/E ratio of 11.41, a P/E/G ratio of 0.59 and a beta of 0.82.

Tencent Music Entertainment Group (NYSE:TME) last issued its quarterly earnings results on Tuesday, March 31st. The company reported $0.11 EPS for the quarter. Tencent Music Entertainment Group had a net margin of 26.45% and a return on equity of 11.20%. The business had revenue of $1.15 billion for the quarter. Equities analysts expect that Tencent Music Entertainment Group Sponsored ADR will post 0.9 earnings per share for the current year.

Tencent Music Entertainment Group 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.