Nomura Holdings Inc. Buys 188,937 Shares of Tencent Music Entertainment Group (NYSE:TME)

Nomura Holdings Inc. lifted its stake in shares of Tencent Music Entertainment Group (NYSE:TME) by 454.4% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 230,516 shares of the company’s stock after acquiring an additional 188,937 shares during the period. Nomura Holdings Inc.’s holdings in Tencent Music Entertainment Group were worth $2,077,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Tobam purchased a new position in shares of Tencent Music Entertainment Group in the 4th quarter worth about $36,000. Headinvest LLC purchased a new stake in Tencent Music Entertainment Group in the third quarter worth approximately $39,000. Lindbrook Capital LLC grew its position in Tencent Music Entertainment Group by 40.9% during 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 last quarter. SageView Advisory Group LLC purchased a new position in shares of Tencent Music Entertainment Group during the fourth quarter worth approximately $90,000. Finally, Parallel Advisors LLC lifted its holdings in shares of Tencent Music Entertainment Group by 27.1% in the 4th quarter. Parallel Advisors LLC now owns 10,927 shares of the company’s stock worth $98,000 after acquiring an additional 2,328 shares during the last quarter. 24.32% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several analysts have issued reports on the stock. Mizuho upped their price target on shares of Tencent Music Entertainment Group from $13.00 to $15.00 and gave the company a “buy” rating in a research report on Friday, May 10th. 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. Benchmark lifted their price target on Tencent Music Entertainment Group from $14.00 to $19.00 and gave the stock a “buy” rating in a research note on Tuesday, May 14th. Bank of America increased their price objective on Tencent Music Entertainment Group from $10.50 to $12.30 and gave the company a “buy” rating in a research note on Wednesday, March 20th. Finally, Citigroup raised shares of Tencent Music Entertainment Group from a “neutral” rating to a “buy” rating and lifted their target price for the stock from $9.00 to $13.00 in a research note on Wednesday, March 20th. One research analyst has rated the stock with a hold rating and ten have issued a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $12.75.

Tencent Music Entertainment Group Price Performance

TME stock opened at $14.36 on Wednesday. The firm has a 50-day moving average of $13.64 and a 200 day moving average of $11.07. The company has a debt-to-equity ratio of 0.09, a current ratio of 2.67 and a quick ratio of 2.67. The company has a market cap of $24.64 billion, a P/E ratio of 31.22, a PEG ratio of 1.06 and a beta of 0.72. Tencent Music Entertainment Group has a 1 year low of $5.70 and a 1 year high of $15.77.

Tencent Music Entertainment Group (NYSE:TME) last announced its earnings results on Monday, May 13th. The company reported $0.14 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.13 by $0.01. The firm had revenue of $937.00 million during the quarter, compared to analyst estimates of $904.29 million. Tencent Music Entertainment Group had a return on equity of 9.85% and a net margin of 18.88%. On average, 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. Stockholders of record on Friday, May 31st will be paid a $0.121 dividend. The ex-dividend date of this dividend is Friday, May 31st. This represents a dividend yield of 0.78%. Tencent Music Entertainment Group’s dividend payout ratio is currently 26.09%.

Tencent Music Entertainment Group Company Profile

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.