1,094,729 Shares in Tencent Music Entertainment Group Sponsored ADR $TME Acquired by Pale Fire Capital SE

Pale Fire Capital SE acquired a new stake in Tencent Music Entertainment Group Sponsored ADR (NYSE:TME) in the 2nd quarter, according to its most recent disclosure with the SEC. The fund acquired 1,094,729 shares of the company’s stock, valued at approximately $9,141,000. Tencent Music Entertainment Group makes up about 0.2% of Pale Fire Capital SE’s portfolio, making the stock its 21st largest holding. Pale Fire Capital SE owned approximately 0.07% of Tencent Music Entertainment Group at the end of the most recent quarter.

A number of other institutional investors have also recently modified their holdings of TME. Royal Bank of Canada raised its position 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 valued at $2,082,000 after purchasing an additional 11,979 shares in the last quarter. AQR Capital Management LLC boosted its stake in shares of Tencent Music Entertainment Group by 107.5% in the 1st quarter. AQR Capital Management LLC now owns 85,450 shares of the company’s stock valued at $1,231,000 after purchasing an additional 44,265 shares during the last quarter. Jones Financial Companies Lllp bought a new position in Tencent Music Entertainment Group during the first quarter worth $985,000. Acadian Asset Management LLC grew its stake in Tencent Music Entertainment Group by 385,900.0% in the first 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 grew 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 buying an additional 1,363 shares during the last quarter. 24.32% of the stock is currently owned by institutional investors.

Tencent Music Entertainment Group Stock Up 1.4%

Shares of NYSE TME opened at $8.40 on Thursday. The firm has a fifty day simple moving average of $8.90 and a two-hundred day simple moving average of $9.97. The company has a current ratio of 1.74, a quick ratio of 1.74 and a debt-to-equity ratio of 0.13. The firm has a market capitalization of $13.22 billion, a PE ratio of 10.37, a price-to-earnings-growth ratio of 1.45 and a beta of 0.85. 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 announced its earnings results on Tuesday, June 30th. The company reported $0.25 earnings per share (EPS) for the quarter. The firm had revenue of $1.31 billion during the quarter. Tencent Music Entertainment Group had a return on equity of 11.53% and a net margin of 26.27%. Equities analysts expect that Tencent Music Entertainment Group Sponsored ADR will post 0.87 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of analysts recently commented on TME shares. Weiss Ratings raised Tencent Music Entertainment Group from a “hold (c-)” rating to a “hold (c)” rating in a research report on Wednesday, July 1st. Nomura set a $10.00 price target on Tencent Music Entertainment Group and gave the company a “neutral” rating in a research report on Thursday, August 13th. JPMorgan Chase & Co. cut their price target on shares of 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. UBS Group set a $15.00 price target on shares of Tencent Music Entertainment Group in a research report on Wednesday, August 12th. Finally, China Renaissance cut Tencent Music Entertainment Group from a “buy” rating to a “hold” rating and set a $9.30 target price for the company. in a research report on Wednesday, August 12th. Three analysts have rated the stock with a Buy rating and ten have issued a Hold rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $17.21.

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.