Tencent MusicTME
Market Cap: $19.7B
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
Fund manager confidence
Based on 2024 Q2 SEC filings by fund managers ($100M+ AUM)
74% more call options, than puts
Call options by funds: $96.6M | Put options by funds: $55.6M
69% more first-time investments, than exits
New positions opened: 61 | Existing positions closed: 36
25% more capital invested
Capital invested by funds: $4.96B [Q1] → $6.22B (+$1.26B) [Q2]
9% more funds holding
Funds holding: 280 [Q1] → 305 (+25) [Q2]
1% more repeat investments, than reductions
Existing positions increased: 107 | Existing positions reduced: 106
0.01% less ownership
Funds ownership: 25.75% [Q1] → 25.74% (-0.01%) [Q2]
17% less funds holding in top 10
Funds holding in top 10: 12 [Q1] → 10 (-2) [Q2]
Research analyst outlook
3 Wall Street Analysts provided 1 year price targets over the past 3 months
3 analyst ratings
Benchmark Fawne Jiang 50% 1-year accuracy 31 / 62 met price target | 29%upside $15 | Buy Maintained | 14 Aug 2024 |
Mizuho Wei Fang 20% 1-year accuracy 1 / 5 met price target | 37%upside $16 | Outperform Maintained | 14 Aug 2024 |
B of A Securities Lei Zhang 0% 1-year accuracy 0 / 3 met price target | 29%upside $15 | Buy Maintained | 14 Aug 2024 |