Leonteq Securities AG Buys 175,292 Shares of Tencent Music Entertainment Group Sponsored ADR $TME

Leonteq Securities AG grew its position in shares of Tencent Music Entertainment Group Sponsored ADR (NYSE:TME) by 341.1% during the first quarter, Holdings Channel.com reports. The fund owned 226,689 shares of the company’s stock after purchasing an additional 175,292 shares during the quarter. Leonteq Securities AG’s holdings in Tencent Music Entertainment Group were worth $2,104,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Royal Bank of Canada increased its holdings in Tencent Music Entertainment Group by 9.0% during the first quarter. Royal Bank of Canada now owns 144,475 shares of the company’s stock worth $2,082,000 after buying an additional 11,979 shares during the last quarter. AQR Capital Management LLC boosted its stake in Tencent Music Entertainment Group by 107.5% in the first quarter. AQR Capital Management LLC now owns 85,450 shares of the company’s stock valued at $1,231,000 after acquiring an additional 44,265 shares during the last quarter. Jones Financial Companies Lllp bought a new position in shares of Tencent Music Entertainment Group during the 1st quarter valued at approximately $985,000. Acadian Asset Management LLC grew its position in shares of Tencent Music Entertainment Group by 385,900.0% during the 1st quarter. Acadian Asset Management LLC now owns 50,180 shares of the company’s stock valued at $722,000 after acquiring an additional 50,167 shares during the period. Finally, EverSource Wealth Advisors LLC increased its stake in shares of Tencent Music Entertainment Group by 83.0% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 3,005 shares of the company’s stock worth $59,000 after purchasing an additional 1,363 shares during the last quarter. Institutional investors own 24.32% of the company’s stock.

Analyst Ratings Changes

Several brokerages have issued reports on TME. Jefferies Financial Group restated a “buy” rating and issued a $23.00 target price on shares of Tencent Music Entertainment Group in a research note on Tuesday, March 17th. Mizuho cut their price target on Tencent Music Entertainment Group from $23.00 to $18.00 and set an “outperform” rating for the company in a research note on Wednesday, May 13th. Morgan Stanley reissued an “equal weight” rating on shares of Tencent Music Entertainment Group in a report on Thursday, March 19th. Benchmark restated a “hold” rating on shares of Tencent Music Entertainment Group in a research note on Wednesday, March 18th. Finally, JPMorgan Chase & Co. dropped 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 report on Thursday, May 14th. Six equities research analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the company’s stock. According to data from MarketBeat, Tencent Music Entertainment Group has an average rating of “Hold” and a consensus price target of $21.44.

Tencent Music Entertainment Group Price Performance

Shares of NYSE TME opened at $8.63 on Friday. The stock’s 50-day simple moving average is $9.00 and its two-hundred day simple moving average is $12.49. Tencent Music Entertainment Group Sponsored ADR has a twelve month low of $7.94 and a twelve month high of $26.70. The firm has a market capitalization of $13.59 billion, a P/E ratio of 10.79, a P/E/G ratio of 0.56 and a beta of 0.82. The company has a quick ratio of 2.08, a current ratio of 2.09 and a debt-to-equity ratio of 0.06.

Tencent Music Entertainment Group (NYSE:TME) last posted its quarterly earnings data 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. As a group, equities analysts anticipate that Tencent Music Entertainment Group Sponsored ADR will post 0.9 EPS for the current fiscal year.

About Tencent Music Entertainment Group

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.