Tencent Music Entertainment Group Sponsored ADR $TME Shares Purchased by Sei Investments Co.

Sei Investments Co. boosted its position in Tencent Music Entertainment Group Sponsored ADR (NYSE:TME) by 10.4% during the first quarter, HoldingsChannel.com reports. The institutional investor owned 3,980,820 shares of the company’s stock after buying an additional 374,586 shares during the period. Sei Investments Co.’s holdings in Tencent Music Entertainment Group were worth $36,942,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors also recently bought and sold shares of TME. NewEdge Wealth LLC purchased a new position in Tencent Music Entertainment Group during the 1st quarter worth $106,000. First Trust Advisors LP lifted its stake in shares of Tencent Music Entertainment Group by 1,023.3% in the 1st quarter. First Trust Advisors LP now owns 554,438 shares of the company’s stock worth $5,145,000 after acquiring an additional 505,080 shares during the period. Barometer Capital Management Inc. purchased a new stake in shares of Tencent Music Entertainment Group in the first quarter valued at about $745,000. XY Capital Ltd boosted its holdings in shares of Tencent Music Entertainment Group by 251.3% in the first quarter. XY Capital Ltd now owns 338,618 shares of the company’s stock valued at $3,142,000 after acquiring an additional 242,218 shares in the last quarter. Finally, KBC Group NV boosted its holdings in shares of Tencent Music Entertainment Group by 42.5% in the first quarter. KBC Group NV now owns 40,034 shares of the company’s stock valued at $372,000 after acquiring an additional 11,944 shares in the last quarter. 24.32% of the stock is owned by institutional investors and hedge funds.

Tencent Music Entertainment Group Price Performance

TME stock opened at $8.86 on Monday. The firm has a 50 day moving average of $8.90 and a 200-day moving average of $11.49. The company has a market cap of $13.94 billion, a price-to-earnings ratio of 11.07, a PEG ratio of 0.58 and a beta of 0.82. The company has a current ratio of 2.09, a quick ratio of 2.08 and a debt-to-equity ratio of 0.06. Tencent Music Entertainment Group Sponsored ADR has a 12-month low of $7.94 and a 12-month high of $26.70.

Tencent Music Entertainment Group (NYSE:TME) last released its quarterly earnings results on Tuesday, March 31st. The company reported $0.11 earnings per share for the quarter. Tencent Music Entertainment Group had a return on equity of 11.20% and a net margin of 26.45%.The business had revenue of $1.15 billion for the quarter. As a group, equities analysts expect that Tencent Music Entertainment Group Sponsored ADR will post 0.89 EPS for the current fiscal year.

Wall Street Analyst Weigh In

TME has been the subject of several analyst reports. Mizuho cut their price target 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 upgraded Tencent Music Entertainment Group from a “hold (c-)” rating to a “hold (c)” rating in a research report on Wednesday, July 1st. Zacks Research raised Tencent Music Entertainment Group from a “strong sell” rating to a “hold” rating in a research note on Tuesday, May 19th. Finally, JPMorgan Chase & Co. reduced their price target on Tencent Music Entertainment Group from $12.00 to $10.00 and set a “neutral” rating for the company in a report on Thursday, May 14th. Six investment analysts have rated the stock with a Buy rating and eight have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $21.44.

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.