Marathon Asset Management sold 559,011 shares of Tencent Music Entertainment, totaling an estimated $11.34 million trade based on quarterly average prices. The quarter-end position value decreased by $26.44 million. As of December 31, Marathon reported holding 2,305,413 TME shares valued at $40.41 million. Tencent Music’s shares were priced at $15.93 on February 5, up 37.2% over the past year. The company operates leading music streaming platforms in China. Despite the recent sale, Tencent Music’s fundamentals have strengthened, with revenue rising over 20% in the most recent quarter.

Marathon Asset Management sold over half a million shares of Tencent Music Entertainment in the fourth quarter, amounting to an $11.34 million trade based on quarterly average prices. The quarter-end position value dropped by $26.44 million. As of December 31, Marathon held 2,305,413 TME shares valued at $40.41 million. Tencent Music’s shares were priced at $15.93 on February 5, up 37.2% over the past year. Despite the sale, the company’s revenue increased by over 20% in the most recent quarter.

Read more at Nasdaq MarketSite: Marathon Cuts $11.3 Million From Tencent Music Stake Even With Shares Up 37% in a Year