Gamco Investors INC. ET AL Has $1.62 Million Stock Holdings in Tencent Music Entertainment Group (NYSE:TME)

Gamco Investors INC. ET AL decreased its holdings in shares of Tencent Music Entertainment Group (NYSE:TME) by 1.4% during the 1st quarter, HoldingsChannel.com reports. The institutional investor owned 145,000 shares of the company’s stock after selling 2,000 shares during the period. Gamco Investors INC. ET AL’s holdings in Tencent Music Entertainment Group were worth $1,623,000 as of its most recent SEC filing.

Several other institutional investors have also recently bought and sold shares of the business. Janiczek Wealth Management LLC raised its holdings in shares of 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 purchasing an additional 1,311 shares during the last quarter. Signaturefd LLC raised its holdings in shares of Tencent Music Entertainment Group by 5.1% in the fourth quarter. Signaturefd LLC now owns 33,465 shares of the company’s stock valued at $302,000 after purchasing an additional 1,628 shares during the last quarter. Cigna Investments Inc. New raised its holdings in shares of Tencent Music Entertainment Group by 13.6% in the fourth quarter. Cigna Investments Inc. New now owns 15,186 shares of the company’s stock valued at $137,000 after purchasing an additional 1,817 shares during the last quarter. Lindbrook Capital LLC raised its holdings 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 purchasing an additional 2,044 shares during the last quarter. Finally, Parallel Advisors LLC raised its holdings 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 purchasing an additional 2,328 shares during the last quarter. Institutional investors and hedge funds own 24.32% of the company’s stock.

Tencent Music Entertainment Group Stock Performance

NYSE:TME 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 company has a debt-to-equity ratio of 0.09, a current ratio of 2.67 and a quick ratio of 2.67. The firm has a market cap of $24.18 billion, a price-to-earnings ratio of 30.63, a P/E/G ratio of 1.08 and a beta of 0.68. Tencent Music Entertainment Group has a 52 week low of $5.70 and a 52 week high of $15.77. The stock has a fifty day simple moving average of $14.58 and a 200-day simple moving average of $12.19.

Tencent Music Entertainment Group (NYSE:TME) last issued its earnings results on Monday, May 13th. The company reported $0.14 earnings per share for the quarter, topping analysts’ consensus estimates of $0.13 by $0.01. The firm had revenue of $937.00 million during 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, sell-side analysts predict that Tencent Music Entertainment Group will post 0.62 earnings per share for the current year.

Tencent Music Entertainment Group Announces Dividend

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

Analysts Set New Price Targets

Several brokerages have recently commented on TME. Benchmark increased their target price on shares of Tencent Music Entertainment Group from $14.00 to $19.00 and gave the company a “buy” rating in a report on Tuesday, May 14th. Mizuho increased their price target on shares of Tencent Music Entertainment Group from $13.00 to $15.00 and gave the company a “buy” rating in a research report on Friday, May 10th. One equities research analyst has rated the stock with a hold rating and ten have assigned a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target 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.