Several other institutional investors also recently bought and sold shares of TME. Activest Wealth Management acquired a new position in Tencent Music Entertainment Group in the 3rd quarter valued at $28,000. Cerity Partners LLC acquired a new position in Tencent Music Entertainment Group in the 2nd quarter valued at $51,000. HighTower Advisors LLC acquired a new position in Tencent Music Entertainment Group in the 1st quarter valued at $51,000. O Shaughnessy Asset Management LLC acquired a new position in Tencent Music Entertainment Group in the 2nd quarter valued at $54,000. Finally, Parallel Advisors LLC raised its holdings in Tencent Music Entertainment Group by 50.0% in the 2nd quarter. Parallel Advisors LLC now owns 11,795 shares of the company’s stock valued at $59,000 after acquiring an additional 3,931 shares during the last quarter. 21.77% of the stock is currently owned by institutional investors and hedge funds.
Tencent Music Entertainment Group Stock Down 3.1 %
Shares of NYSE TME opened at $8.01 on Friday. Tencent Music Entertainment Group has a 12-month low of $2.95 and a 12-month high of $9.29. The company has a market cap of $13.58 billion, a P/E ratio of 28.61, a P/E/G ratio of 0.73 and a beta of 0.78. The company has a current ratio of 2.15, a quick ratio of 2.15 and a debt-to-equity ratio of 0.12. The stock has a fifty day moving average price of $8.40 and a 200 day moving average price of $6.02.
Tencent Music Entertainment Group (NYSE:TME – Get Rating) last announced its quarterly earnings results on Tuesday, November 15th. The company reported $0.10 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.08 by $0.02. Tencent Music Entertainment Group had a return on equity of 6.74% and a net margin of 10.61%. The firm had revenue of $1.04 billion during the quarter, compared to the consensus estimate of $1.01 billion. Research analysts anticipate that Tencent Music Entertainment Group will post 0.37 EPS for the current fiscal year.
Analysts Set New Price Targets
A number of analysts have recently commented on the company. The Goldman Sachs Group upgraded Tencent Music Entertainment Group from a “sell” rating to a “neutral” rating and upped their price objective for the stock from $5.00 to $8.00 in a report on Monday, January 9th. Morgan Stanley upgraded Tencent Music Entertainment Group from an “equal weight” rating to an “overweight” rating and upped their price objective for the stock from $4.50 to $8.50 in a report on Thursday, December 1st. JPMorgan Chase & Co. assumed coverage on Tencent Music Entertainment Group in a report on Monday, January 30th. They set an “overweight” rating for the company. 86 Research downgraded Tencent Music Entertainment Group from a “buy” rating to a “hold” rating in a report on Thursday, January 19th. Finally, Daiwa Capital Markets assumed coverage on Tencent Music Entertainment Group in a report on Friday, January 13th. They set a “buy” rating for the company. Two equities research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $7.02.
Tencent Music Entertainment Group Profile
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Tencent Music Entertainment Group is a holding company, which engages in the operation of an online music and audio entertainment platform. Its platform is composed of online music, online audio, online karaoke, music-centric live streaming, and online concert services. The company was founded on June 6, 2012 and is headquartered in Shenzhen, China.
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