TME

Understanding the Reasons Behind the TME Share Sell-Off

This morning we watched Tencent Music Entertainment drop -2.7% to a price of $12.29 per share. The Large-Cap Broadcasting company is now trading -12.12% below its average target price of $13.98. Analysts have set target prices ranging from $8.4 to $17.18 per share for Tencent Music Entertainment, and have given the stock an average rating of buy.

The stock has an average amount of shares sold short at 3.4%, and a short ratio of 2.24. At 0.0%, the company's rate of insider ownership does not indicate that management is heavily invested in the corporation. Finally, we also note that an average number of institutional investors are invested in the stock, with 57.7% of Tencent Music Entertainment's shares being owned by this investor type.

Institutions Invested in Tencent Music Entertainment

Date Reported Holder Percentage Shares Value
2024-06-30 Blackrock Inc. 4% 31,286,128 $384,350,077
2024-06-30 Invesco Ltd. 3% 26,559,469 $326,283,072
2024-06-30 Vanguard Group Inc 3% 25,124,755 $308,657,611
2024-06-30 Baillie Gifford and Company 3% 22,115,922 $271,694,098
2024-06-30 Krane Funds Advisors LLC 2% 17,245,981 $211,866,873
2024-06-30 Schroder Investment Management Group 2% 16,806,455 $206,467,297
2024-06-30 Goldman Sachs Group Inc 2% 14,011,824 $172,135,255
2024-06-30 Aspex Management (HK) Ltd 2% 13,474,261 $165,531,294
2024-06-30 Cantillon Capital Management LLC 2% 13,190,802 $162,049,000
2024-06-30 State Street Corporation 1% 12,655,263 $155,469,904

Besides an analyst consensus of some upside potential, other market factors point to there being mixed market sentiment on Tencent Music Entertainment.

The above analysis is intended for educational purposes only and was performed on the basis of publicly available data. It is not to be construed as a recommendation to buy or sell any security. Any buy, sell, or other recommendations mentioned in the article are direct quotations of consensus recommendations from the analysts covering the stock, and do not represent the opinions of Market Inference or its writers. Past performance, accounting data, and inferences about market position and corporate valuation are not reliable indicators of future price movements. Market Inference does not provide financial advice. Investors should conduct their own review and analysis of any company of interest before making an investment decision.

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