Lbp Am Sa Trims Position in Tencent Music Entertainment Group Sponsored ADR (NYSE:TME)

LBP AM SA cut its stake in shares of Tencent Music Entertainment Group Sponsored ADR (NYSE:TME - Free Report) by 37.1% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 220,000 shares of the company's stock after selling 130,000 shares during the quarter. LBP AM SA's holdings in Tencent Music Entertainment Group were worth $3,170,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. Ethic Inc. acquired a new position in Tencent Music Entertainment Group during the fourth quarter worth $192,000. Geode Capital Management LLC raised its holdings in shares of Tencent Music Entertainment Group by 3.7% in the 4th quarter. Geode Capital Management LLC now owns 4,463,596 shares of the company's stock worth $50,323,000 after acquiring an additional 160,078 shares during the last quarter. PNC Financial Services Group Inc. raised its holdings in shares of Tencent Music Entertainment Group by 10.9% in the 4th quarter. PNC Financial Services Group Inc. now owns 11,138 shares of the company's stock worth $126,000 after acquiring an additional 1,094 shares during the last quarter. American Century Companies Inc. raised its holdings in shares of Tencent Music Entertainment Group by 6.2% in the 4th quarter. American Century Companies Inc. now owns 749,447 shares of the company's stock worth $8,506,000 after acquiring an additional 43,859 shares during the last quarter. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS raised its holdings in shares of Tencent Music Entertainment Group by 3.1% in the 4th quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 901,402 shares of the company's stock worth $10,231,000 after acquiring an additional 27,500 shares during the last quarter. Institutional investors own 24.32% of the company's stock.

Analyst Upgrades and Downgrades

TME has been the topic of a number of analyst reports. Mizuho lifted their price objective on shares of Tencent Music Entertainment Group from $16.00 to $17.00 and gave the stock an "outperform" rating in a report on Wednesday, March 19th. Nomura Securities raised shares of Tencent Music Entertainment Group to a "strong-buy" rating in a research report on Tuesday, April 8th. Macquarie set a $26.20 target price on shares of Tencent Music Entertainment Group and gave the stock an "outperform" rating in a research report on Tuesday, June 17th. Sanford C. Bernstein reissued an "outperform" rating on shares of Tencent Music Entertainment Group in a research report on Wednesday, May 14th. Finally, Morgan Stanley reiterated an "overweight" rating on shares of Tencent Music Entertainment Group in a report on Tuesday, May 13th. Two research analysts have rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat.com, Tencent Music Entertainment Group currently has a consensus rating of "Moderate Buy" and a consensus target price of $16.60.

Tencent Music Entertainment Group Stock Performance

Shares of NYSE:TME traded down $0.20 during mid-day trading on Friday, reaching $19.80. The company had a trading volume of 4,763,033 shares, compared to its average volume of 8,083,547. 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 $33.98 billion, a price-to-earnings ratio of 29.85 and a beta of 0.55. The company's 50-day moving average price is $17.65 and its 200-day moving average price is $14.29. Tencent Music Entertainment Group Sponsored ADR has a one year low of $9.41 and a one year high of $20.85.

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.