Lester Murray Antman dba SimplyRich purchased a new position in Tencent Music Entertainment Group Sponsored ADR (NYSE:TME - Free Report) during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 26,543 shares of the company's stock, valued at approximately $382,000.
Other large investors also recently modified their holdings of the company. Vise Technologies Inc. acquired a new position in Tencent Music Entertainment Group during the 4th quarter valued at about $169,000. Ethic Inc. acquired a new position in Tencent Music Entertainment Group during the 4th quarter worth $192,000. Oppenheimer Asset Management Inc. raised its position in shares of Tencent Music Entertainment Group by 35.6% during the 1st quarter. Oppenheimer Asset Management Inc. now owns 13,609 shares of the company's stock worth $196,000 after buying an additional 3,570 shares in the last quarter. Vident Advisory LLC raised its holdings in Tencent Music Entertainment Group by 23.0% during the fourth quarter. Vident Advisory LLC now owns 18,889 shares of the company's stock worth $214,000 after purchasing an additional 3,538 shares in the last quarter. Finally, Toronto Dominion Bank acquired a new stake in Tencent Music Entertainment Group in the fourth quarter worth approximately $286,000. 24.32% of the stock is currently owned by institutional investors.
Wall Street Analyst Weigh In
TME has been the topic of a number of research reports. Wall Street Zen raised Tencent Music Entertainment Group from a "hold" rating to a "buy" rating in a research note on Sunday, August 3rd. Macquarie set a $26.20 price target on shares of Tencent Music Entertainment Group and gave the stock an "outperform" rating in a research report on Tuesday, June 17th. Morgan Stanley restated an "overweight" rating on shares of Tencent Music Entertainment Group in a research report on Tuesday, May 13th. Finally, Sanford C. Bernstein reiterated an "outperform" rating on shares of Tencent Music Entertainment Group in a report on Wednesday, May 14th. Two analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $16.60.
Get Our Latest Research Report on TME
Tencent Music Entertainment Group Trading Up 0.7%
Shares of TME traded up $0.15 during midday trading on Friday, hitting $22.12. The stock had a trading volume of 4,308,475 shares, compared to its average volume of 7,398,729. Tencent Music Entertainment Group Sponsored ADR has a fifty-two week low of $9.41 and a fifty-two week high of $22.50. The business has a 50-day simple moving average of $19.77 and a two-hundred day simple moving average of $15.70. The company has a current ratio of 1.83, a quick ratio of 1.83 and a debt-to-equity ratio of 0.05. The firm has a market cap of $37.96 billion, a P/E ratio of 26.33 and a beta of 0.50.
Tencent Music Entertainment Group Profile
(
Free Report)
Tencent Music Entertainment Group operates online music entertainment platforms to provide music streaming, online karaoke, and live streaming services in the People's Republic of China. It offers QQ Music, Kugou Music, and Kuwo Music that enable users to discover music in personalized ways; long-form audio content, including audiobooks, podcasts and talk shows, as well as music-oriented video content comprising music videos, live performances, and short videos; and WeSing, which enables users to sing along from its library of karaoke songs and share their performances in audio or video formats with friends.
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