Baillie Gifford & Co. Has $290.74 Million Stock Holdings in Tencent Music Entertainment Group Sponsored ADR (NYSE:TME)

Key Points

• Baillie Gifford & Co. decreased its stake in Tencent Music Entertainment Group by 3.7%, now holding 20,176,398 shares worth approximately $290.74 million.
• Institutional investors own 24.32% of Tencent Music Entertainment Group, with significant increases in stakes from firms like JPMorgan Chase & Co. and Mirae Asset Global Investments.
• Analysts have rated Tencent Music Entertainment Group with an average rating of "Moderate Buy" and a consensus target price of $16.60, highlighting positive outlooks from multiple financial institutions.

Baillie Gifford & Co. cut its stake in shares of Tencent Music Entertainment Group Sponsored ADR (NYSE:TME - Free Report) by 3.7% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund owned 20,176,398 shares of the company's stock after selling 783,181 shares during the period. Baillie Gifford & Co. owned 1.18% of Tencent Music Entertainment Group worth $290,742,000 as of its most recent filing with the SEC.

Several other large investors have also recently bought and sold shares of the stock. JPMorgan Chase & Co. lifted its position in shares of Tencent Music Entertainment Group by 558.2% in the fourth quarter. JPMorgan Chase & Co. now owns 11,773,523 shares of the company's stock valued at $133,629,000 after buying an additional 9,984,690 shares during the last quarter. Artisan Partners Limited Partnership acquired a new stake in shares of Tencent Music Entertainment Group in the fourth quarter valued at approximately $113,031,000. Norges Bank acquired a new stake in shares of Tencent Music Entertainment Group in the fourth quarter valued at approximately $99,539,000. Mawer Investment Management Ltd. lifted its position in shares of Tencent Music Entertainment Group by 152.2% in the fourth quarter. Mawer Investment Management Ltd. now owns 11,467,410 shares of the company's stock valued at $130,155,000 after buying an additional 6,919,574 shares during the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. lifted its position in shares of Tencent Music Entertainment Group by 3,382.1% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 4,481,537 shares of the company's stock valued at $64,579,000 after buying an additional 4,352,834 shares during the last quarter. 24.32% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on the company. Macquarie set a $26.20 target price on Tencent Music Entertainment Group and gave the company an "outperform" rating in a research report on Tuesday, June 17th. Morgan Stanley reaffirmed an "overweight" rating on shares of Tencent Music Entertainment Group in a research report on Tuesday, May 13th. Sanford C. Bernstein reaffirmed an "outperform" rating on shares of Tencent Music Entertainment Group in a research report on Wednesday, May 14th. Finally, Nomura Securities raised Tencent Music Entertainment Group to a "strong-buy" rating in a research report on Tuesday, April 8th. Two equities research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat, Tencent Music Entertainment Group has an average rating of "Moderate Buy" and a consensus target price of $16.60.

Tencent Music Entertainment Group Trading Down 1.4%

Shares of NYSE:TME opened at $21.26 on Friday. The company has a market capitalization of $36.49 billion, a P/E ratio of 25.31 and a beta of 0.55. Tencent Music Entertainment Group Sponsored ADR has a 1 year low of $9.41 and a 1 year high of $22.50. The company has a debt-to-equity ratio of 0.05, a current ratio of 1.83 and a quick ratio of 1.83. The business's 50 day simple moving average is $18.94 and its 200 day simple moving average is $14.96.

Tencent Music Entertainment Group Company Profile

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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