C WorldWide Group Holding A S cut its stake in shares of Tencent Music Entertainment Group Sponsored ADR (NYSE:TME - Free Report) by 1.2% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,481,606 shares of the company's stock after selling 18,285 shares during the quarter. C WorldWide Group Holding A S owned about 0.09% of Tencent Music Entertainment Group worth $21,350,000 as of its most recent SEC filing.
A number of other large investors have also recently made changes to their positions in TME. Massachusetts Financial Services Co. MA acquired a new stake in shares of Tencent Music Entertainment Group in the first quarter worth $32,254,000. OVERSEA CHINESE BANKING Corp Ltd boosted its holdings in Tencent Music Entertainment Group by 161.4% during the first quarter. OVERSEA CHINESE BANKING Corp Ltd now owns 181,219 shares of the company's stock worth $2,611,000 after buying an additional 111,895 shares in the last quarter. Ballentine Partners LLC boosted its holdings in Tencent Music Entertainment Group by 10.6% during the first quarter. Ballentine Partners LLC now owns 21,054 shares of the company's stock worth $303,000 after buying an additional 2,019 shares in the last quarter. Caas Capital Management LP purchased a new stake in Tencent Music Entertainment Group in the 1st quarter worth $1,016,000. Finally, Genus Capital Management Inc. increased its holdings in Tencent Music Entertainment Group by 203.8% in the 1st quarter. Genus Capital Management Inc. now owns 27,077 shares of the company's stock worth $390,000 after acquiring an additional 53,154 shares in the last quarter. 24.32% of the stock is owned by hedge funds and other institutional investors.
Tencent Music Entertainment Group Trading Up 0.0%
Shares of TME stock traded up $0.01 on Monday, hitting $21.44. 2,422,519 shares of the stock traded hands, compared to its average volume of 8,080,915. The firm's 50-day moving average price is $18.48 and its two-hundred day moving average price is $14.73. The company has a debt-to-equity ratio of 0.05, a quick ratio of 1.83 and a current ratio of 1.83. The stock has a market capitalization of $36.78 billion, a PE ratio of 25.52 and a beta of 0.55. Tencent Music Entertainment Group Sponsored ADR has a twelve month low of $9.41 and a twelve month high of $22.50.
Wall Street Analyst Weigh In
Several equities analysts have issued reports on TME shares. Morgan Stanley reaffirmed an "overweight" rating on shares of Tencent Music Entertainment Group in a report on Tuesday, May 13th. Nomura Securities raised shares of Tencent Music Entertainment Group to a "strong-buy" rating in a report on Tuesday, April 8th. Sanford C. Bernstein reaffirmed an "outperform" rating on shares of Tencent Music Entertainment Group in a report on Wednesday, May 14th. Macquarie set a $26.20 price objective on shares of Tencent Music Entertainment Group and gave the company an "outperform" rating in a report on Tuesday, June 17th. Finally, Deutsche Bank Aktiengesellschaft raised shares of Tencent Music Entertainment Group from a "hold" rating to a "buy" rating in a report on Wednesday, March 26th. Two equities research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $16.60.
Get Our Latest Report on TME
Tencent Music Entertainment Group Company 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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