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Artemis Investment Management LLP lifted its stake in shares of Tencent Songs Enjoyment Team (NYSE:TME – Free Report) by 10.8% all through the second quarter, according to the organization in its most the latest submitting with the Securities & Exchange Commission. The institutional trader owned 441,972 shares of the company’s stock right after buying an extra 43,000 shares for the duration of the time period. Artemis Financial investment Administration LLP’s holdings in Tencent Music Enjoyment Team have been value $3,258,000 at the stop of the most new quarter.
Various other large traders also a short while ago built alterations to their positions in the stock. HighTower Advisors LLC purchased a new place in Tencent Songs Leisure Group all through the to start with quarter truly worth about $51,000. 1832 Asset Management L.P. purchased a new position in shares of Tencent Tunes Amusement Group during the 4th quarter truly worth approximately $76,000. Evergreen Funds Administration LLC bought a new stake in Tencent New music Leisure Team in the 1st quarter valued at $83,000. Baker Tilly Prosperity Administration LLC acquired a new placement in Tencent Audio Enjoyment Team all through the first quarter worth $87,000. At last, Advisor Partners II LLC bought a new position in Tencent Audio Entertainment Team during the fourth quarter well worth $94,000. Institutional buyers and hedge funds possess 23.59% of the company’s stock.
Tencent Music Amusement Group Inventory Down .8 %
TME inventory opened at $6.23 on Friday. The corporation has a marketplace cap of $10.69 billion, a PE ratio of 14.83, a price-to-earnings-expansion ratio of .70 and a beta of .81. The enterprise has a speedy ratio of 2.50, a present-day ratio of 2.50 and a debt-to-equity ratio of .11. Tencent Music Amusement Team has a 52 week reduced of $3.14 and a 52 7 days higher of $9.29. The business has a 50-working day very simple going common of $6.50 and a 200 day very simple relocating average of $7.20.
Tencent Audio Leisure Group (NYSE:TME – Get Free Report) previous issued its earnings success on Tuesday, August 15th. The organization noted $.82 EPS for the quarter, missing the consensus estimate of $.88 by ($.06). The firm experienced revenue of $7.29 billion through the quarter, as opposed to analyst estimates of $7.30 billion. Tencent Audio Entertainment Team experienced a internet margin of 16.00% and a return on equity of 9.87%. Tencent Music Amusement Group’s quarterly revenue was up 5.5% as opposed to the identical quarter past year. For the duration of the similar quarter in the preceding 12 months, the firm posted $.07 earnings for each share. Market-side analysts foresee that Tencent Music Amusement Team will put up .46 EPS for the existing fiscal calendar year.
Analyst Upgrades and Downgrades
A number of investigation analysts recently commented on the inventory. HSBC reduced their price focus on on shares of Tencent New music Amusement Group from $8.40 to $7.40 in a investigation be aware on Thursday, July 20th. JPMorgan Chase & Co. reissued a “neutral” ranking and set a $7.50 price concentrate on on shares of Tencent Songs Enjoyment Team in a report on Wednesday, July 26th. Citigroup lowered their rate objective on Tencent Audio Entertainment Team from $7.50 to $7.00 and established a “neutral” score on the inventory in a report on Wednesday, August 16th. Last but not least, Financial institution of The us dropped their target rate on Tencent Tunes Enjoyment Team from $10.00 to $8.80 and established a “buy” score for the corporation in a report on Wednesday, August 16th. Five expenditure analysts have rated the stock with a keep ranking and six have assigned a acquire ranking to the corporation. According to data from MarketBeat, the enterprise presently has an normal score of “Moderate Get” and an common concentrate on cost of $8.72.
Get Our Latest Analysis Report on Tencent Music Enjoyment Group
Tencent New music Entertainment Team Profile
Tencent Songs Entertainment Team operates on the internet music leisure platforms to present songs streaming, on line karaoke, and reside streaming products and services in the People’s Republic of China. It provides QQ New music, Kugou Tunes, and Kuwo Songs that enable people to uncover music in personalised approaches and WeSing, which enables customers to sing from its library of karaoke tunes and share their performances in audio or online video formats with friends.
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