Hel Ved Capital Management Ltd Invests $4.64 Million in Tencent Music Entertainment Group (NYSE:TME)

Hel Ved Capital Management Ltd bought a new stake in Tencent Music Entertainment Group (NYSE:TMEFree Report) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 515,000 shares of the company’s stock, valued at approximately $4,640,000. Tencent Music Entertainment Group makes up approximately 1.3% of Hel Ved Capital Management Ltd’s investment portfolio, making the stock its 19th biggest position.

Other large investors have also modified their holdings of the company. Tobam acquired a new position in shares of Tencent Music Entertainment Group in the fourth quarter valued at $36,000. Headinvest LLC bought a new stake in Tencent Music Entertainment Group in the third quarter valued at $39,000. Lindbrook Capital LLC grew its position in Tencent Music Entertainment Group by 40.9% in the fourth quarter. Lindbrook Capital LLC now owns 7,036 shares of the company’s stock valued at $63,000 after acquiring an additional 2,044 shares during the period. QRG Capital Management Inc. bought a new stake in Tencent Music Entertainment Group in the third quarter valued at $75,000. Finally, Parallel Advisors LLC grew its position in Tencent Music Entertainment Group by 27.1% in the fourth quarter. Parallel Advisors LLC now owns 10,927 shares of the company’s stock valued at $98,000 after acquiring an additional 2,328 shares during the period. 24.32% of the stock is currently owned by institutional investors and hedge funds.

Tencent Music Entertainment Group Trading Down 3.3 %

Tencent Music Entertainment Group stock traded down $0.48 during mid-day trading on Friday, hitting $14.07. The stock had a trading volume of 7,729,922 shares, compared to its average volume of 8,190,533. The stock has a 50-day simple moving average of $13.22 and a two-hundred day simple moving average of $10.74. The stock has a market capitalization of $24.15 billion, a PE ratio of 30.58, a P/E/G ratio of 1.09 and a beta of 0.72. Tencent Music Entertainment Group has a 12 month low of $5.70 and a 12 month high of $15.77. The company has a current ratio of 2.67, a quick ratio of 2.67 and a debt-to-equity ratio of 0.09.

Tencent Music Entertainment Group (NYSE:TMEGet Free Report) last released its earnings results on Monday, May 13th. The company reported $0.14 earnings per share for the quarter, beating the consensus estimate of $0.13 by $0.01. Tencent Music Entertainment Group had a return on equity of 9.85% and a net margin of 18.88%. The firm had revenue of $937.00 million for the quarter, compared to analyst estimates of $904.29 million. As a group, sell-side analysts forecast that Tencent Music Entertainment Group will post 0.62 EPS for the current year.

Tencent Music Entertainment Group Announces Dividend

The business also recently announced an annual dividend, which will be paid on Thursday, June 27th. Shareholders of record on Friday, May 31st will be paid a $0.121 dividend. This represents a yield of 0.78%. The ex-dividend date of this dividend is Friday, May 31st. Tencent Music Entertainment Group’s payout ratio is 26.09%.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on TME. The Goldman Sachs Group upgraded Tencent Music Entertainment Group from a “neutral” rating to a “buy” rating and set a $14.00 price target on the stock in a research report on Wednesday, March 20th. Morgan Stanley increased their target price on Tencent Music Entertainment Group from $11.00 to $13.50 and gave the stock an “overweight” rating in a report on Wednesday, March 20th. Mizuho increased their target price on Tencent Music Entertainment Group from $13.00 to $15.00 and gave the stock a “buy” rating in a report on Friday, May 10th. HSBC increased their target price on Tencent Music Entertainment Group from $9.50 to $10.40 and gave the stock a “hold” rating in a report on Wednesday, March 20th. Finally, Bank of America increased their target price on Tencent Music Entertainment Group from $10.50 to $12.30 and gave the stock a “buy” rating in a report on Wednesday, March 20th. One analyst has rated the stock with a hold rating and ten have assigned a buy rating to the company. Based on data from MarketBeat, Tencent Music Entertainment Group has a consensus rating of “Moderate Buy” and an average price target of $12.75.

Check Out Our Latest Stock Analysis on Tencent Music Entertainment Group

Tencent Music Entertainment Group Profile

(Free Report)

Tencent Music Entertainment Group operates online music entertainment platforms to provide music streaming, online karaoke, and live streaming services in the People's Republic of China. It offers QQ Music, Kugou Music, and Kuwo Music that enable users to discover music in personalized ways; long-form audio content, including audiobooks, podcasts and talk shows, as well as music-oriented video content comprising music videos, live performances, and short videos; and WeSing, which enables users to sing along from its library of karaoke songs and share their performances in audio or video formats with friends.

Further Reading

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Institutional Ownership by Quarter for Tencent Music Entertainment Group (NYSE:TME)

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