Bayesian Capital Management LP Buys Shares of 31,494 Tencent Music Entertainment Group (NYSE:TME)

Bayesian Capital Management LP bought a new stake in Tencent Music Entertainment Group (NYSE:TME) in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 31,494 shares of the company’s stock, valued at approximately $352,000.

Other large investors have also recently bought and sold shares of the company. Tobam acquired a new stake in shares of Tencent Music Entertainment Group in the fourth quarter valued at about $36,000. Lindbrook Capital LLC increased its stake in shares of 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 buying an additional 2,044 shares during the period. SageView Advisory Group LLC acquired a new stake in shares of Tencent Music Entertainment Group in the fourth quarter valued at about $90,000. Parallel Advisors LLC increased its stake in shares of 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 buying an additional 2,328 shares during the period. Finally, QRG Capital Management Inc. increased its stake in shares of Tencent Music Entertainment Group by 24.7% in the fourth quarter. QRG Capital Management Inc. now owns 14,624 shares of the company’s stock valued at $132,000 after buying an additional 2,898 shares during the period. 24.32% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

TME has been the subject of several recent research reports. Benchmark increased their price target on Tencent Music Entertainment Group from $14.00 to $19.00 and gave the company a “buy” rating in a research note on Tuesday, May 14th. Mizuho raised their target price 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 research analyst has rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $12.75.

Tencent Music Entertainment Group Stock Performance

Shares of Tencent Music Entertainment Group stock opened at $14.18 on Thursday. The business’s fifty day simple moving average is $14.52 and its 200 day simple moving average is $12.31. The firm has a market capitalization of $24.33 billion, a P/E ratio of 30.83, a price-to-earnings-growth ratio of 1.04 and a beta of 0.68. 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:TME) last issued its quarterly earnings results on Monday, May 13th. The company reported $0.14 EPS for the quarter, topping analysts’ consensus estimates of $0.13 by $0.01. The business 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, analysts anticipate that Tencent Music Entertainment Group will post 0.62 EPS for the current year.

Tencent Music Entertainment Group Dividend Announcement

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

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.