River Global Investors LLP Trims Stock Position in Tencent Music Entertainment Group (NYSE:TME)

River Global Investors LLP trimmed its holdings in shares of Tencent Music Entertainment Group (NYSE:TME - Free Report) by 81.5% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 32,833 shares of the company's stock after selling 144,569 shares during the period. River Global Investors LLP's holdings in Tencent Music Entertainment Group were worth $296,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently modified their holdings of TME. Origin Asset Management LLP purchased a new stake in Tencent Music Entertainment Group during the fourth quarter valued at about $20,470,000. Blue Creek Capital Management Ltd acquired a new position in Tencent Music Entertainment Group during the fourth quarter valued at approximately $4,440,000. Beck Bode LLC acquired a new stake in shares of Tencent Music Entertainment Group in the fourth quarter worth $230,000. Signaturefd LLC boosted its stake in Tencent Music Entertainment Group by 5.1% during the fourth quarter. Signaturefd LLC now owns 33,465 shares of the company's stock worth $302,000 after buying an additional 1,628 shares in the last quarter. Finally, Lindbrook Capital LLC boosted its stake in Tencent Music Entertainment Group by 40.9% during the fourth quarter. Lindbrook Capital LLC now owns 7,036 shares of the company's stock worth $63,000 after buying an additional 2,044 shares in the last quarter. 24.32% of the stock is owned by institutional investors and hedge funds.

Tencent Music Entertainment Group Trading Up 0.6 %

Shares of TME stock traded up $0.08 during mid-day trading on Monday, hitting $13.58. The company's stock had a trading volume of 4,218,577 shares, compared to its average volume of 8,456,301. The company's fifty day simple moving average is $11.28 and its 200-day simple moving average is $9.55. Tencent Music Entertainment Group has a 52 week low of $5.70 and a 52 week high of $13.66. The company has a debt-to-equity ratio of 0.10, a quick ratio of 2.49 and a current ratio of 2.49. The company has a market cap of $23.30 billion, a PE ratio of 30.68, a P/E/G ratio of 0.83 and a beta of 0.77.

Tencent Music Entertainment Group (NYSE:TME - Get Free Report) last released its quarterly earnings results on Tuesday, March 19th. The company reported $0.13 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.12 by $0.01. The business had revenue of $971.00 million during the quarter, compared to the consensus estimate of $925.06 million. Tencent Music Entertainment Group had a return on equity of 9.67% and a net margin of 17.71%. As a group, equities research analysts expect that Tencent Music Entertainment Group will post 0.58 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on the company. UBS Group raised Tencent Music Entertainment Group from a "neutral" rating to a "buy" rating and set a $10.50 price objective for the company in a report on Wednesday, January 24th. The Goldman Sachs Group upgraded Tencent Music Entertainment Group from a "neutral" rating to a "buy" rating and set a $14.00 price objective for the company in a research report on Wednesday, March 20th. CLSA started coverage on Tencent Music Entertainment Group in a research report on Monday, February 5th. They set an "outperform" rating and a $10.50 target price for the company. Morgan Stanley boosted their target price on Tencent Music Entertainment Group from $11.00 to $13.50 and gave the stock an "overweight" rating in a research report on Wednesday, March 20th. Finally, Citigroup upgraded Tencent Music Entertainment Group from a "neutral" rating to a "buy" rating and boosted their target price for the stock from $9.00 to $13.00 in a research report on Wednesday, March 20th. Two equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company's stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $11.63.

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; and WeSing, which enables users to sing from its library of karaoke songs and share their performances in audio or video formats with friends.