tencent music news
The market cap for TME stock reached $30.09 billion, with 1.66 billion shares outstanding and 589.18 million shares in the current float. Compared to the average trading volume of 34.64M shares, TME reached a trading volume of 20981854 in the most recent trading day, which is why market watchdogs consider the stock to be active. Tencent Music Entertainment Group (NYSE:TME) is the leading online music entertainment platform in China, operating the country's highly popular and innovative music apps: QQ Music, Kugou Music, Kuwo Music and WeSing. Like us on Facebook to see similar stories, Ohio authorities probe fatal police shooting of Black teenage girl, The New York state legislature approved a bill that would immediately restore voting rights to prisoners once they are released. Naked Brand Group Limited [NAKD] Is Currently 9.07 above its 200 Period Moving Avg: What Dose This Mean? Chinese online music platform Tencent Music Entertainment Group (NYSE:TME) stock surged to highs of $32.25 on Mar. March 22, 2021. The company, which is listed on the New York Stock Exchange, lost about a … Price to Free Cash Flow for TME in the course of the last twelve months was 40.18 with Quick ratio for the last quarter at 3.30. In his new role, Liang will oversee QQ Music, Kugou Music, Kuwo Music, WeSing and long-form audio businesses. Even if you’re not actively in crypto, you deserve to know what’s actually going on... Tencent Music shares have fallen 33.92% in a seven-day period leading up to Friday’s closing when the shares closed 1.23% lower at $20.10. Additionally, 118 investors decreased positions by around 47,122,460 shares, while 35 investors held positions by with 379,909,735 shares. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on TME stock is a recommendation set at 2.00. Tencent Music Entertainment Group announced Sunday a plan to buy back $1 billion in shares. The present Moving Average for the last 50 days of trading for this stock 24.33, while it was recorded at 18.05 for the last single week of trading, and 18.99 for the last 200 days. In comparing Tencent Music Entertainment Group (TME)’s stock with other industry players reveals that stock’s current price change of -0.38% and that of +63.22% over the past 12 months is in competing position with that of Relx Plc (RELX) which saw its stock price raised by 0.68% in the last trading and went through an increase of 18.66% in past 12-month trading. The company report on April 15, 2021 that Tencent Music Entertainment Group Announces Leadership Changes. Required fields are marked *. (Tencent Holdings acquired a further 0.8%.) With the company’s per share price at $17.83 changed hands at -$0.21 or -0.01% during last session, the … Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for TME shares is $29.55 per share. Goldman have made an estimate for Tencent Music Entertainment Group shares, keeping their opinion on the stock as Neutral, with their previous recommendation back on March 24, 2021. Return on Equity for this stock inclined to 8.45, with Return on Assets sitting at 6.69. Prior to this appointment, Ross served as Vice President of Tencent Holdings Limited (“Tencent”) where he was responsible for overseeing a number of major online platforms including QQ, a leading social communication and entertainment platform in China with 595 million MAU on smart devices, as well as Qzone, a leading social platform that enables users to share their lives and interact with friends and relatives anytime and anywhere. With this latest performance, TME shares dropped by -37.48% in over the last four-week period, additionally plugging by 24.69% over the last 6 months – not to mention a rise of 63.73% in the past year of trading. At the very opening of the session, the stock price was $18.09 and reached a high price of $18.1399, prior to closing the session it reached the value of … Ring Energy Inc. [REI] gain 200.05% so far this year. Additionally, TME Total Debt to Total Capital is recorded at 9.52, with Total Debt to Total Assets ending up at 8.05. X. Tencent Music Entertainment Group said on Thursday it appointed Zhu Liang as the new chief executive officer and Cussion Kar Shun Pang as the new executive chairman of the board, with immediate effect. TME, which rose revenues 14.6% to $4.5 billion in 2020, has been growing its footprint in the Western music industry. Tencent Music Entertainment Group announced plans to buy back up to $1 billion worth of shares. Dowson has served as Chairman of the Board since 2016. Microsoft and partners may be compensated if you purchase something through recommended links in this article. Tencent Music Entertainment (TME) is the largest music company in China and owns the country's top-three streaming platforms QQ Music, KuGou, WeSing and Kuwo. It reported decent numbers in … Stay up to date on the latest stock price, chart, news, analysis, fundamentals, trading and investment tools. The … He played an integral role in the formation of TME through the strategic merger of Tencent’s QQ Music and WeSing with China Music Corporation, the former holding company of Kugou Music and Kuwo Music. The Bank of New York Mellon Corporation [BK] Stock trading around $48.64 per share: What’s Next? An RSI rate of 50 would represent a neutral market momentum. A high-level overview of Tencent Music Entertainment Group (TME) stock. The top three institutional holders of TME stocks are: CREDIT SUISSE AG/ with ownership of 53,218,044, which is approximately 290.018% of the company’s market cap and around 9.76% of the total institutional ownership; MORGAN STANLEY, holding 48,112,265 shares of the stock with an approximate value of $857.84 million in TME stocks shares; and BAILLIE GIFFORD & CO, currently with $758.71 million in TME stock with ownership of nearly -1.107% of the company’s market capitalization. What else is Wall St. saying? Tencent Music reported fourth-quarter results late Monday that matched estimates on revenue and barely beat earnings views.Tencent Music stock wavered. Mr. Zhu Liang (or “Ross Liang”) has been appointed as the Company’s new Chief Executive Officer (“CEO”) and a member of the Board. In January, a Tencent-led consortium increased its total stake in Universal Music Group from 10% to 20%. The New York-listed firm’s stock slumped almost 20% on … The mentioned changes placed institutional holdings at 566,486,034 shares, according to the latest SEC report filing. Some of these agreements have also led to equity relationships. Positions in Tencent Music Entertainment Group stocks held by institutional investors increased at the end of May and at the time of the May reporting period, where 146 institutional holders increased their position in Tencent Music Entertainment Group [NYSE:TME] by around 139,453,839 shares. The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for TME. Tencent Music. Also worth noting is that Hangzhou-based NetEase, a main Tencent … As the CEO, Ross’ primary responsibility is to oversee TME’s QQ Music, Kugou Music, Kuwo Music, WeSing and long-form audio business. The company report on April 15, 2021 that Tencent Music Entertainment Group Announces Leadership Changes. Liang formerly served as vice president of Tencent Holdings Limited, where he oversaw the company’s owned online music and social platforms including QQ and Qzone; and prior to that, general manager of QQ Music. Stepping in to lead the compensation committee will be James Gordon Mitchell, the company said. Long-Term Debt to Equity for the company is recorded at 10.32, with the Long-Term Debt to Total Capital now at 9.34. (Reuters) - Tencent Music Entertainment Group on Thursday said it appointed Cussion Kar Shun Pang as its new executive chairman of the board and … The company, which is … The results of the trading session contributed to over 20981854 shares changing hands. Tencent Music Entertainment Group and Warner Music Sign Multi-Year Strategic Licensing Agreement and Agree to Establish a Joint Venture Music Label in China. Cussion Kar Shun Pang, who had led … Alibaba Group Holding Limited [BABA] Stock trading around $229.88 per share: What’s Next? Show full articles without "Continue Reading" button for {0} hours. Receivables Turnover for the company is 10.93 with a Total Asset Turnover recorded at a value of 0.47.Tencent Music Entertainment Group’s liquidity data is similarly interesting compelling, with a Quick Ratio of 3.30 and a Current Ratio set at 3.30. The current RSI for TME stock in for the last two-week period is set at 32.07, with the RSI for the last a single of trading hit 27.85, and the three-weeks RSI is set at 35.59 for Tencent Music Entertainment Group [TME]. The Average True Range (ATR) for Tencent Music Entertainment Group is set at 1.59, with the Price to Sales ratio for TME stock in the period of the last 12 months amounting to 6.73. Market cap of Lumen Technologies Inc. [LUMN] reaches 13.95B – now what. Click here to get the full story… along with our long list of backdoor Bitcoin strategies. The new note on the price target was released on March 23, 2021, representing the official price target for Tencent Music Entertainment Group stock. Save my name, email, and website in this browser for the next time I comment. In January, a Tencent-led consortium increased its total stake in Universal Music Group from 10% to 20%. It’s free. Chinese music and entertainment giant Tencent Music Entertainment (TME) announced a slate of leadership changes today (April 15), including promoting Ross Liang to CEO and installing outgoing chief Cussion Pang as executive chairman of TME’s board. “Ross’ proven track record in building successful online entertainment platforms and social ecosystems, combined with his breadth of experience delivering strong results through successful expansion into new business areas, makes him ideally suited to accelerate our evolution into an all-in-one online music and audio entertainment destination in China,” said Pang, who has been TME’s CEO since mid-2016 and a member of the board since 2014. Prior to that role, Ross was the General Manager of QQ Music from 2014 to 2016. Tencent Music Entertainment Group (TME) is priced at $18.04 after the most recent trading session. After all, Tencent Music is now China's top streaming music company, as my colleague Leo Sun pointed out last week. . Dowson’s personal dedication to shaping the Company’s overall strategy within the broader context of promoting the healthy and sustainable development of the music industry has enabled TME to thrive as the leading online music entertainment platform in China. Tencent Music Entertainment Group [TME] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -1.11. Get the hottest stocks to trade every day before the market opens 100% free. Mr. James Gordon Mitchell has been appointed as the Chairman of compensation committee of the Board. SHENZHEN and LONDON, August 10, 2020 –Tencent Music Entertainment Group (Tencent Music or TME, NYSE: TME), the leading online music entertainment platform in China and Universal Music Group (UMG), the world leader in music-based entertainment, today announced a multi-year extension of their licensing agreement. Tencent Music's mission is to use technology to elevate the role of music in people's lives by enabling them to create, enjoy, share and interact with music. Because while leading assets such as Bitcoin (BTC) and Ethereum (ETH) are climbing in value, a select group of public “crypto stocks” are surging right along with them. What now? Return on Total Capital for TME is now 7.11, given the latest momentum, and Return on Invested Capital for the company is 7.98. Under Dowson’s leadership, TME embarked on the strategic and cultural transformation that shaped the Company’s journey towards providing superior online music streaming experiences to users, as well as improving the copyright protection environment for the music industry in China. Mr. Tong Tao Sang (or “Dowson Tong”), TME’s current Chairman of the Board, will resign from the positions of Chairman of the Board, Chairman of compensation committee and all his roles as a director or an officer of affiliates of the Company. Tencent Music’s buyback plans represent 2.9% of the company’s current market value. In the last trading session, 20,914,705 Tencent Music Entertainment Group (NYSE:TME) shares changed hands as the company’s beta touched 0. Over the past one week, the price volatility of Tencent Music Entertainment Group stands at 3.99% while the volatility over the past one month is 9.95%. Your email address will not be published. Its platform comprises of online music, online karaoke, and music-centric live streaming products. The Price to Book ratio for the last quarter was 3.70, with the Price to Cash per share for the same quarter was set at 1.01. Click here now. Courtesy of Tencent Music Entertainment China’s dominant online music platform Tencent Music Entertainment has renewed and expanded its licensing deal with Warner Music. Tencent Music Entertainment Group (“Tencent Music,” “TME,” or the “Company”) (NYSE: TME), the leading online music entertainment platform in China, announced the appointment of Mr. Cussion Kar Shun Pang as TME’s Executive Chairman of the Board of Directors (the “Board”). Get the latest Tencent Music Entertainment (TME) stock price quote with real-time news, financials, charts and other important investing information. Added Liang: “I believe TME’s dedication towards driving a sustainable industry development, outstanding product and technology offerings, and innovative business models, combined with the most talented group of people in the industry, uniquely position the Company to capitalize on the exciting opportunities within online music and audio entertainment.”. Tencent Music Entertainment Group on Thursday said it appointed Cussion Kar Shun Pang as its new executive chairman of the board and Zhu Liang … News. Tencent Music has tapped former Tencent VP Zhu “Ross” Liang to replace Cussion Kar Shun Pang as CEO. The company was founded by Jia Xin Peng on June 6, 2012 and is headquartered in Beijing, China. Last month, the company announced a new joint record label with Warner Music Group alongside a new licensing agreement, following similar deals with Universal Music Group in August 2020 and Sony Music Group in 2018. Northcoast Upgrade IAA Inc. [IAA]. Tencent Music Entertainment Group (TME.N) said on Thursday it appointed Zhu Liang as the new chief executive officer and Cussion Kar Shun Pang as … Gallery: The most promising career fields right now (Espresso). Tencent Music's mission is to use technology to elevate the role of music in people's lives by enabling them to create, enjoy, share and interact with music. While these analysts kept the previous recommendation, China Renaissance raised their target price from $18 to $29. Its platform comprises of online music, online karaoke, and music-centric live streaming products. In early 2020, the company acquired a minority stake in Universal Music Group via a Tencent-led consortium’s $3.4bn buyout of a 10% stake in UMG. why Hyliion Holdings Corp. [HYLN] is a Good Choice for Investors After New Price Target of $14.33. (Reuters) - China's Tencent Music Entertainment Group posted a 14.3% rise in quarterly revenue on Monday, as the music streaming platform benefited from adding more paying users and a … Our platform comprises online music, online karaoke and music-centric live streaming services. Tencent Music Entertainment Group’s Net Margin is presently recorded at +14.25. You can buy and sell TENCENT MUSIC (TME) and other stocks, ETFs, and options commission-free on Robinhood with real-time quotes, market data, and relevant news. , Kugou Music, online karaoke, and website in this browser for the Next time comment... 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