Tencent Music Entertainment Group (NYSE:TME) Reaches New 12-Month High - Should You Buy?

Tencent Music Entertainment Group Sponsored ADR (NYSE:TME - Get Free Report)'s share price reached a new 52-week high during mid-day trading on Tuesday . The company traded as high as $20.37 and last traded at $20.03, with a volume of 6972761 shares changing hands. The stock had previously closed at $19.46.

Analyst Ratings Changes

Several equities research analysts have issued reports on TME shares. Deutsche Bank Aktiengesellschaft upgraded shares of Tencent Music Entertainment Group from a "hold" rating to a "buy" rating in a research note on Wednesday, March 26th. Morgan Stanley reaffirmed an "overweight" rating on shares of Tencent Music Entertainment Group in a report on Tuesday, May 13th. Mizuho upped their price target on shares of Tencent Music Entertainment Group from $16.00 to $17.00 and gave the company 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 report on Tuesday, April 8th. Finally, Sanford C. Bernstein reissued an "outperform" rating on shares of Tencent Music Entertainment Group in a report on Wednesday, May 14th. Two investment analysts have rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $16.60.

Tencent Music Entertainment Group Stock Up 1.2%

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 company has a market capitalization of $34.82 billion, a price-to-earnings ratio of 24.15 and a beta of 0.55. The stock's fifty day simple moving average is $17.24 and its two-hundred day simple moving average is $14.15.

Institutional Investors Weigh In On Tencent Music Entertainment Group

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Schroder Investment Management Group lifted its holdings in Tencent Music Entertainment Group by 6.7% in the 4th quarter. Schroder Investment Management Group now owns 63,064,552 shares of the company's stock valued at $715,783,000 after acquiring an additional 3,987,116 shares during the last quarter. Vanguard Group Inc. lifted its holdings in Tencent Music Entertainment Group by 1.4% in the 1st quarter. Vanguard Group Inc. now owns 29,993,486 shares of the company's stock valued at $432,206,000 after acquiring an additional 404,674 shares during the last quarter. Krane Funds Advisors LLC lifted its holdings in Tencent Music Entertainment Group by 20.8% in the 1st quarter. Krane Funds Advisors LLC now owns 23,984,629 shares of the company's stock valued at $345,619,000 after acquiring an additional 4,128,678 shares during the last quarter. JPMorgan Chase & Co. lifted its holdings in Tencent Music Entertainment Group by 31.1% in the 1st quarter. JPMorgan Chase & Co. now owns 15,430,218 shares of the company's stock valued at $222,349,000 after acquiring an additional 3,656,695 shares during the last quarter. Finally, Mawer Investment Management Ltd. lifted its holdings in Tencent Music Entertainment Group by 152.2% in the 4th quarter. Mawer Investment Management Ltd. now owns 11,467,410 shares of the company's stock valued at $130,155,000 after acquiring an additional 6,919,574 shares during the last quarter. 24.32% of the stock is owned by institutional investors and hedge funds.

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.