Tencent Music Entertainment Group (TME) Shares Pulled Back After Strong Performance

Insider Monkey11-21 00:48

Polen Capital, an investment management company, released its “Polen Global SMID Company Growth” third quarter 2024 investor letter. A copy of the letter can be downloaded here. In the third quarter, ...

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A copy of the letter can be downloaded here. In the third quarter, ...</p>\n\n<a href=\"https://finance.yahoo.com/news/tencent-music-entertainment-group-tme-164803888.html\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"BK4535","symbol_name":"淡马锡持仓","start_time":0,"source_url":"https://finance.yahoo.com/news/tencent-music-entertainment-group-tme-164803888.html","article_id":"2485142609","we_media_id":null,"thumbnails":["https://s.yimg.com/uu/api/res/1.2/mTUXJ6bMLauIBY9OjIGcWA--~B/aD00MzA7dz03Njg7YXBwaWQ9eXRhY2h5b24-/https://media.zenfs.com/en/insidermonkey.com/e2a5e7e90d26181079ea2c7dce2e9740"],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2485142609","pubTimestamp":1732121283,"sourceInfo":{"source_id":"yahoofinance","name":"雅虎金融"},"weMediaInfo":null,"summary":"Polen Capital, an investment management company, released its “Polen Global SMID Company Growth” third quarter 2024 investor letter. A copy of the letter can be downloaded here. In the third quarter, the fund returned 7.41  and 7.40%  compared to a 9.37% return for the MSCI ACWI SMID Net Index. Negative stock selection and sector and country allocation led the portfolio to underperform in the quarter. Despite volatile market sentiments, global small and mid-cap equities posted gains in the third quarter. In addition, please check the fund’s top five holdings to know its best picks in 2024.Polen Global SMID Company Growth stated the following regarding Tencent Music Entertainment Group  in its Q3 2024 investor letter:. Inanother article, we discussed Tencent Music Entertainment Group  and shared the list of best music stocks to buy according to hedge funds. Tencent Music Entertainment Group  contributed to Polen Global SMID Company Growth Strategy's performance in the previous quarter d","collect":0,"end_time":0,"defaultTopTitle":"yahoo.com","property":[],"viewcount":null,"language":"en","relate_stocks":{"BK4535":"淡马锡持仓","BK4509":"腾讯概念","LU0359201612.USD":"贝莱德中国基金A2","LU0359202008.SGD":"Blackrock China Fund A2 SGD-H","LU1023057109.AUD":"BGF CHINA \"A2\" (AUDHDG) ACC","TCMEF":"Tencent Music Entertainment Group","TME":"腾讯音乐","BK4526":"热门中概股","BK4552":"Archegos爆仓风波概念","01698":"腾讯音乐-SW","IE00BYQNZ168.SGD":"PINEBRIDGE ASIA EX JAPAN SMALL CAP EQUITY \"A5CP\" (SGD) ACC","BK4548":"巴美列捷福持仓","BK4563":"昨日强势股","BK4565":"NFT概念","SG9999011746.SGD":"PINEBRIDGE INTERNATIONAL FUNDS - ACORNS OF ASIA BA (SGD) ACC","LU2039709279.SGD":"MANULIFE GF DRAGON GROWTH \"AA\" (SGDHDG) INC","IE00BYTNYN87.SGD":"PINEBRIDGE ASIA EX JAPAN SMALL CAP EQUITY \"A5\" (SGD) ACC","BK4531":"中概回港概念","IE00B12V2V27.USD":"柏瑞亚洲小盘股A(除日本)","BK4571":"数字音乐概念","BK4108":"电影和娱乐"},"translate_title":"腾讯控股音乐娱乐集团(TME)股价在强劲表现后回落","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"TME":1,"TCMEF":1,"01698":0.6},"content_text":"Polen Capital, an investment management company, released its “Polen Global SMID Company Growth” third quarter 2024 investor letter. A copy of the letter can be downloaded here. In the third quarter, the fund returned 7.41 (gross) and 7.40% (net) compared to a 9.37% return for the MSCI ACWI SMID Net Index. Negative stock selection and sector and country allocation led the portfolio to underperform in the quarter. Despite volatile market sentiments, global small and mid-cap equities posted gains in the third quarter. In addition, please check the fund’s top five holdings to know its best picks in 2024.\nPolen Global SMID Company Growth highlighted stocks like Tencent Music Entertainment Group (NYSE:TME) in the Q3 2024 investor letter. Tencent Music Entertainment Group (NYSE:TME) operates online music entertainment platforms that provide music streaming, online karaoke, and live streaming services. The one-month return of Tencent Music Entertainment Group (NYSE:TME) was -1.25%, and its shares gained 35.12% of their value over the last 52 weeks. On November 19, 2024, Tencent Music Entertainment Group (NYSE:TME) stock closed at $11.15 per share with a market capitalization of $19.692 billion.\nPolen Global SMID Company Growth stated the following regarding Tencent Music Entertainment Group (NYSE:TME) in its Q3 2024 investor letter:\n\n\"Tencent Music Entertainment Group (NYSE:TME), China's equivalent to Spotify, pulled back after a period of solid performance. Its music business has performed well over the past 12 months in a robust pricing environment, leading to compelling revenue and earnings growth. However, in the most recent quarterly results, revenues declined year-on-year, and while profits rose 22.5% over the same period, the company guided for more conservative growth going forward. Company management expects subscriber growth to slow, and several sell-side analysts lowered price targets over the next 12 months.\"\n\n A singing performer silhouetted on a spotlighted online stage. \nTencent Music Entertainment Group (NYSE:TME) is not on our list of 31 Most Popular Stocks Among Hedge Funds. As per our database, 25 hedge fund portfolios held Tencent Music Entertainment Group (NYSE:TME) at the end of the third quarter which was 25 in the previous quarter. While we acknowledge the potential of Tencent Music Entertainment Group (NYSE:TME) as an investment, our conviction lies in the belief that AI stocks hold greater promise for delivering higher returns, and doing so within a shorter timeframe. If you are looking for an AI stock that is as promising as NVIDIA but that trades at less than 5 times its earnings, check out our report about the cheapest AI stock.\nIn another article, we discussed Tencent Music Entertainment Group (NYSE:TME) and shared the list of best music stocks to buy according to hedge funds. Tencent Music Entertainment Group (NYSE:TME) contributed to Polen Global SMID Company Growth Strategy's performance in the previous quarter due to improved profitability. In addition, please check out our hedge fund investor letters Q3 2024 page for more investor letters from hedge funds and other leading investors.\nREAD NEXT: Michael Burry Is Selling These Stocks and A New Dawn Is Coming to US Stocks.\nDisclosure: None. This article is originally published at Insider Monkey.","kind":null,"is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"-1","news_tag":"","news_rank":0,"symbols":[],"gpt_button":1},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"deviceId":"web-server-community-laohu8-v3","version":"4.29.1","shortVersion":"4.29.1","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/2485142609"}