Deutsche Bank AG Boosts Holdings in Tencent Music Entertainment Group Sponsored ADR (NYSE:TME)

Key Points

• Deutsche Bank AG has increased its stake in Tencent Music Entertainment Group by 11.9%, owning approximately 4.43 million shares valued at $63.91 million as of the latest reporting period.
• Other institutional investors, including Vanguard Group and Krane Funds Advisors, have also significantly increased their holdings in Tencent Music, highlighting growing institutional interest in the company.
• Tencent Music shares are currently trading at around $22.73, having experienced a 2.7% increase recently, with analysts generally rating the stock as a "Moderate Buy."

Deutsche Bank AG boosted its holdings in Tencent Music Entertainment Group Sponsored ADR (NYSE:TME - Free Report) by 11.9% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 4,434,839 shares of the company's stock after buying an additional 469,945 shares during the period. Deutsche Bank AG owned approximately 0.26% of Tencent Music Entertainment Group worth $63,906,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also bought and sold shares of the business. Vise Technologies Inc. purchased a new stake in Tencent Music Entertainment Group during the 4th quarter worth about $169,000. Ethic Inc. purchased a new stake in Tencent Music Entertainment Group during the 4th quarter worth about $192,000. Oppenheimer Asset Management Inc. lifted its holdings in 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 purchasing an additional 3,570 shares in the last quarter. Vident Advisory LLC lifted its holdings in Tencent Music Entertainment Group by 23.0% during the 4th 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 purchased a new stake in Tencent Music Entertainment Group during the 4th quarter worth about $286,000. 24.32% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on TME shares. Wall Street Zen lowered shares of Tencent Music Entertainment Group from a "buy" rating to a "hold" rating in a research report on Monday. Sanford C. Bernstein set a $27.50 price target on shares of Tencent Music Entertainment Group and gave the company an "outperform" rating in a research report on Wednesday. Barclays restated an "overweight" rating and set a $27.00 price target (up from $16.00) on shares of Tencent Music Entertainment Group in a research report on Tuesday. Daiwa Capital Markets upgraded shares of Tencent Music Entertainment Group from a "neutral" rating to an "outperform" rating in a research report on Tuesday. Finally, Benchmark boosted their price target on shares of Tencent Music Entertainment Group from $19.00 to $28.00 and gave the company a "buy" rating in a research report on Wednesday. One equities research analyst has rated the stock with a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, Tencent Music Entertainment Group presently has an average rating of "Buy" and a consensus target price of $23.29.

Tencent Music Entertainment Group Trading Down 0.2%

NYSE:TME traded down $0.05 during trading hours on Thursday, reaching $25.55. The company's stock had a trading volume of 10,218,926 shares, compared to its average volume of 7,495,604. The firm has a market capitalization of $43.85 billion, a price-to-earnings ratio of 28.08 and a beta of 0.50. The firm has a 50-day simple moving average of $20.30 and a 200-day simple moving average of $16.05. Tencent Music Entertainment Group Sponsored ADR has a 1 year low of $9.41 and a 1 year high of $26.54. The company has a debt-to-equity ratio of 0.05, a quick ratio of 1.83 and a current ratio of 1.83.

About Tencent Music Entertainment Group

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.