TME stock icon

Tencent Music
TME

$15.13
1.68%

Market Cap: 26B

 

About: Tencent Music is the largest online music service provider in China. It was founded in 2016 with the business combination of QQ Music (founded in 2005), Kuwo Music (founded in 2005) and Kugou Music (founded in 2004) streaming platforms. Tencent is the largest shareholder of TME with over 50% shares and over 90% voting rights held. TME also provides social entertainment services, including music live audio/video broadcasts and online concert services through the three platforms mentioned above, and online karaoke through an independent platform WeSing.

Employees: 5,185

0
Funds holding %
of 6,702 funds
0
Analysts bullish %
of 14 analysts
News positive %

Fund manager confidence

Based on 2024 Q1 SEC filings by fund managers ($100M+ AUM)

122% more first-time investments, than exits

New positions opened: 60 | Existing positions closed: 27

71% more call options, than puts

Call options by funds: $62.9M | Put options by funds: $36.8M

33% more repeat investments, than reductions

Existing positions increased: 106 | Existing positions reduced: 80

31% more capital invested

Capital invested by funds: $3.74B [Q4 2023] → $4.91B (+$1.17B) [Q1 2024]

20% more funds holding in top 10

Funds holding in top 10: 10 [Q4 2023] → 12 (+2) [Q1 2024]

13% more funds holding

Funds holding: 245 [Q4 2023] → 278 (+33) [Q1 2024]

1.3% more ownership

Funds ownership: 24.2% [Q4 2023] → 25.5% (+1.3%) [Q1 2024]

Research analyst outlook

14 Wall Street Analysts provided 1 year price forecasts over the past 6 months

Low target
$10.40
31%
downside
Avg. target
$13.23
13%
downside
High target
$19
26%
upside

14 analyst ratings

13 positive
93%
neutral
7%
negative
0%
Benchmark
Fawne Jiang
26%upside
$19
Buy
Maintained
14 May 2024
Mizuho
Wei Fang
12%upside
$17
Buy
Maintained
14 May 2024
Mizuho
Wei Fang
1%downside
$15
Buy
Maintained
10 May 2024
Morgan Stanley
Alex Poon
11%downside
$13.5
Overweight
Maintained
20 Mar 2024
Goldman Sachs
Ronald Keung
7%downside
$14
Buy
Upgraded
20 Mar 2024

Financial journalist opinion