Tencent Music Entertainment Group (NYSE:TME) Shares Sold by Los Angeles Capital Management LLC

Los Angeles Capital Management LLC reduced its position in shares of Tencent Music Entertainment Group (NYSE:TME) by 24.9% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 281,788 shares of the company’s stock after selling 93,507 shares during the period. Los Angeles Capital Management LLC’s holdings in Tencent Music Entertainment Group were worth $3,153,000 at the end of the most recent quarter.

Other large investors have also made changes to their positions in the company. Nomura Holdings Inc. increased its holdings in Tencent Music Entertainment Group by 454.4% in the fourth quarter. Nomura Holdings Inc. now owns 230,516 shares of the company’s stock valued at $2,077,000 after buying an additional 188,937 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund acquired a new stake in shares of Tencent Music Entertainment Group during the 4th quarter valued at approximately $4,633,000. SageView Advisory Group LLC acquired a new stake in shares of Tencent Music Entertainment Group during the 4th quarter valued at approximately $90,000. Goldman Sachs Group Inc. raised its position in shares of Tencent Music Entertainment Group by 78.2% during the 4th quarter. Goldman Sachs Group Inc. now owns 13,871,935 shares of the company’s stock worth $124,986,000 after purchasing an additional 6,088,504 shares during the last quarter. Finally, V Square Quantitative Management LLC acquired a new position in shares of Tencent Music Entertainment Group during the 4th quarter worth approximately $302,000. 24.32% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

TME has been the topic of several recent research reports. HSBC lifted their target price on shares of Tencent Music Entertainment Group from $9.50 to $10.40 and gave the company a “hold” rating in a report on Wednesday, March 20th. Citigroup upgraded shares of Tencent Music Entertainment Group from a “neutral” rating to a “buy” rating and upped their target price for the stock from $9.00 to $13.00 in a research report on Wednesday, March 20th. Bank of America upped their target price on shares of Tencent Music Entertainment Group from $10.50 to $12.30 and gave the stock a “buy” rating in a research report on Wednesday, March 20th. Morgan Stanley upped their target price on shares of Tencent Music Entertainment Group from $11.00 to $13.50 and gave the stock an “overweight” rating in a research report on Wednesday, March 20th. Finally, Mizuho upped their target price on shares of Tencent Music Entertainment Group from $13.00 to $15.00 and gave the stock a “buy” rating in a research report on Friday, May 10th. One investment analyst has rated the stock with a hold rating and ten have assigned a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $12.75.

Tencent Music Entertainment Group Stock Down 0.4 %

Shares of NYSE:TME opened at $14.01 on Friday. The company has a debt-to-equity ratio of 0.09, a quick ratio of 2.67 and a current ratio of 2.67. The company has a market cap of $24.04 billion, a PE ratio of 30.46, a price-to-earnings-growth ratio of 1.05 and a beta of 0.72. Tencent Music Entertainment Group has a 52 week low of $5.70 and a 52 week high of $15.77. The firm has a 50 day simple moving average of $13.78 and a 200 day simple moving average of $11.15.

Tencent Music Entertainment Group (NYSE:TME) last released its quarterly earnings data 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. The firm had revenue of $937.00 million for the quarter, compared to analyst estimates of $904.29 million. Tencent Music Entertainment Group had a net margin of 18.88% and a return on equity of 9.85%. As a group, research analysts expect that Tencent Music Entertainment Group will post 0.62 earnings per share for the current year.

Tencent Music Entertainment Group Dividend Announcement

The business also recently disclosed 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. The ex-dividend date is Friday, May 31st. This represents a yield of 0.78%. Tencent Music Entertainment Group’s dividend payout ratio is presently 26.09%.

About Tencent Music Entertainment Group

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.