Jump Financial LLC Buys Shares of 303,412 Tencent Music Entertainment Group Sponsored ADR $TME

Key Points

• Jump Financial LLC has invested approximately $4.37 million in Tencent Music Entertainment Group, acquiring 303,412 shares, as reported in their 13F filing with the SEC.
• Institutional investors currently own 24.32% of Tencent Music's stock, with significant increases in holdings reported by both Balyasny Asset Management L.P. and Dimensional Fund Advisors LP.
• Various equities analysts have upgraded their ratings for Tencent Music Entertainment Group, with Citigroup setting a new price objective of $29.00, reflecting growing confidence in the company's prospects.

Jump Financial LLC purchased a new stake in Tencent Music Entertainment Group Sponsored ADR (NYSE:TME - Free Report) during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm purchased 303,412 shares of the company's stock, valued at approximately $4,372,000.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. BNP Paribas grew its stake in Tencent Music Entertainment Group by 2.0% in the 4th quarter. BNP Paribas now owns 58,066 shares of the company's stock valued at $659,000 after acquiring an additional 1,131 shares during the period. Ballentine Partners LLC grew its stake in Tencent Music Entertainment Group by 10.6% in the 1st quarter. Ballentine Partners LLC now owns 21,054 shares of the company's stock valued at $303,000 after acquiring an additional 2,019 shares during the period. SVB Wealth LLC acquired a new stake in Tencent Music Entertainment Group in the 1st quarter valued at $34,000. Asset Management One Co. Ltd. grew its stake in Tencent Music Entertainment Group by 0.5% in the 1st quarter. Asset Management One Co. Ltd. now owns 504,632 shares of the company's stock valued at $7,272,000 after acquiring an additional 2,549 shares during the period. Finally, Compound Planning Inc. grew its stake in Tencent Music Entertainment Group by 12.3% in the 1st quarter. Compound Planning Inc. now owns 28,500 shares of the company's stock valued at $411,000 after acquiring an additional 3,127 shares during the period. Institutional investors and hedge funds own 24.32% of the company's stock.

Analyst Upgrades and Downgrades

TME has been the topic of a number of research analyst reports. Daiwa Capital Markets raised shares of Tencent Music Entertainment Group from a "neutral" rating to an "outperform" rating in a research note on Tuesday, August 12th. Sanford C. Bernstein set a $27.50 price objective on Tencent Music Entertainment Group and gave the company an "outperform" rating in a report on Wednesday, August 13th. Citigroup restated a "buy" rating and issued a $29.00 price objective (up previously from $23.00) on shares of Tencent Music Entertainment Group in a report on Tuesday, August 12th. Barclays restated an "overweight" rating and issued a $27.00 price objective (up previously from $16.00) on shares of Tencent Music Entertainment Group in a report on Tuesday, August 12th. Finally, Macquarie set a $29.80 price target on Tencent Music Entertainment Group and gave the stock an "outperform" rating in a report on Tuesday, August 12th. Two research analysts have rated the stock with a Strong Buy rating and nine have assigned a Buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of "Buy" and an average target price of $24.47.

Tencent Music Entertainment Group Trading Down 1.5%

TME traded down $0.36 on Friday, hitting $24.54. The company had a trading volume of 7,157,765 shares, compared to its average volume of 7,400,595. The firm has a market cap of $42.11 billion, a P/E ratio of 26.96 and a beta of 0.54. Tencent Music Entertainment Group Sponsored ADR has a 1 year low of $9.41 and a 1 year high of $26.54. The company's fifty day moving average price is $21.96 and its 200 day moving average price is $17.22. The company has a current ratio of 1.87, a quick ratio of 1.87 and a debt-to-equity ratio of 0.04.

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.