Mawer Investment Management Ltd. Buys 245,800 Shares of Tencent Music Entertainment Group (NYSE:TME)

Mawer Investment Management Ltd. raised its stake in shares of Tencent Music Entertainment Group (NYSE:TME) by 199.2% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 369,200 shares of the company’s stock after purchasing an additional 245,800 shares during the period. Mawer Investment Management Ltd.’s holdings in Tencent Music Entertainment Group were worth $5,187,000 at the end of the most recent quarter.

Several other large investors have also bought and sold shares of TME. Ashton Thomas Private Wealth LLC bought a new position in Tencent Music Entertainment Group during the 2nd quarter worth $37,000. Tobam raised its position in shares of Tencent Music Entertainment Group by 37.7% in the 2nd quarter. Tobam now owns 3,498 shares of the company’s stock worth $49,000 after acquiring an additional 957 shares in the last quarter. SageView Advisory Group LLC bought a new position in shares of Tencent Music Entertainment Group in the 4th quarter worth about $90,000. Parallel Advisors LLC raised its position 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 in the last quarter. Finally, iA Global Asset Management Inc. raised its position in shares of Tencent Music Entertainment Group by 728.9% in the 1st quarter. iA Global Asset Management Inc. now owns 11,687 shares of the company’s stock worth $131,000 after acquiring an additional 10,277 shares in the last quarter. 24.32% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on the company. Mizuho lowered their price objective on Tencent Music Entertainment Group from $17.00 to $16.00 and set an “outperform” rating for the company in a research report on Wednesday, August 14th. Benchmark lowered their price objective on Tencent Music Entertainment Group from $19.00 to $15.00 and set a “buy” rating for the company in a research report on Wednesday, August 14th. Bank of America lowered their price objective on Tencent Music Entertainment Group from $18.00 to $15.00 and set a “buy” rating for the company in a research report on Wednesday, August 14th. Daiwa Capital Markets lowered Tencent Music Entertainment Group from an “outperform” rating to a “neutral” rating in a research report on Tuesday, August 13th. Finally, Daiwa America lowered Tencent Music Entertainment Group from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, August 13th. Three investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $12.72.

Tencent Music Entertainment Group Price Performance

TME stock opened at $10.15 on Tuesday. The company has a market capitalization of $17.42 billion, a P/E ratio of 22.07, a price-to-earnings-growth ratio of 0.76 and a beta of 0.65. The company has a debt-to-equity ratio of 0.09, a quick ratio of 2.34 and a current ratio of 2.34. Tencent Music Entertainment Group has a 52-week low of $5.96 and a 52-week high of $15.77. The business has a 50-day simple moving average of $12.75 and a two-hundred day simple moving average of $12.70.

Tencent Music Entertainment Group (NYSE:TME) last released its quarterly earnings results on Tuesday, August 13th. The company reported $0.15 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.16 by ($0.01). The company had revenue of $985.00 million for the quarter, compared to analyst estimates of $1 billion. Tencent Music Entertainment Group had a net margin of 20.35% and a return on equity of 10.11%. Research analysts expect that Tencent Music Entertainment Group will post 0.63 EPS for the current fiscal year.

Tencent Music Entertainment Group 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.