Gamco Investors INC. ET AL Trims Stock Holdings in Tencent Music Entertainment Group (NYSE:TME)

Gamco Investors INC. ET AL lowered its position in Tencent Music Entertainment Group (NYSE:TME) by 1.4% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 145,000 shares of the company’s stock after selling 2,000 shares during the quarter. Gamco Investors INC. ET AL’s holdings in Tencent Music Entertainment Group were worth $1,623,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Janiczek Wealth Management LLC lifted its stake in Tencent Music Entertainment Group by 8.6% in the fourth quarter. Janiczek Wealth Management LLC now owns 16,559 shares of the company’s stock valued at $149,000 after buying an additional 1,311 shares during the last quarter. Signaturefd LLC raised its stake in shares of Tencent Music Entertainment Group by 5.1% during the fourth quarter. Signaturefd LLC now owns 33,465 shares of the company’s stock worth $302,000 after purchasing an additional 1,628 shares during the last quarter. Cigna Investments Inc. New raised its stake in shares of Tencent Music Entertainment Group by 13.6% during the fourth quarter. Cigna Investments Inc. New now owns 15,186 shares of the company’s stock worth $137,000 after purchasing an additional 1,817 shares during the last quarter. Lindbrook Capital LLC raised its stake in shares of Tencent Music Entertainment Group by 40.9% during the fourth quarter. Lindbrook Capital LLC now owns 7,036 shares of the company’s stock worth $63,000 after purchasing an additional 2,044 shares during the last quarter. Finally, Parallel Advisors LLC raised its stake in shares of Tencent Music Entertainment Group by 27.1% during the fourth quarter. Parallel Advisors LLC now owns 10,927 shares of the company’s stock worth $98,000 after purchasing an additional 2,328 shares during the last quarter. Hedge funds and other institutional investors own 24.32% of the company’s stock.

Tencent Music Entertainment Group Price Performance

TME stock traded down $0.34 on Friday, reaching $14.09. 6,582,750 shares of the company’s stock were exchanged, compared to its average volume of 6,948,051. The stock has a fifty day moving average of $14.58 and a 200-day moving average of $12.19. Tencent Music Entertainment Group has a twelve month low of $5.70 and a twelve month high of $15.77. The firm has a market cap of $24.18 billion, a PE ratio of 30.63, a P/E/G ratio of 1.08 and a beta of 0.68. The company has a quick ratio of 2.67, a current ratio of 2.67 and a debt-to-equity ratio of 0.09.

Tencent Music Entertainment Group (NYSE:TME) last posted 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. The company had revenue of $937.00 million for 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%. As a group, equities analysts predict that Tencent Music Entertainment Group will post 0.62 EPS for the current fiscal year.

Tencent Music Entertainment Group Announces Dividend

The company also recently announced an annual dividend, which was paid on Thursday, June 27th. Shareholders of record on Friday, May 31st were issued a $0.121 dividend. This represents a yield of 0.78%. The ex-dividend date of this dividend was Friday, May 31st. Tencent Music Entertainment Group’s dividend payout ratio (DPR) is 28.26%.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on the company. Benchmark upped 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. Mizuho upped their price target on Tencent Music Entertainment Group from $13.00 to $15.00 and gave the stock a “buy” rating in a research note on Friday, May 10th. One analyst has rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $12.75.

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.