Tencent Music Entertainment Group (NYSE:TME) Holdings Boosted by Shell Asset Management Co.

Shell Asset Management Co. boosted its position in shares of Tencent Music Entertainment Group (NYSE:TMEFree Report) by 10.7% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 55,344 shares of the company’s stock after acquiring an additional 5,354 shares during the period. Shell Asset Management Co.’s holdings in Tencent Music Entertainment Group were worth $353,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Tower Research Capital LLC TRC lifted its position in Tencent Music Entertainment Group by 595.5% during the 2nd quarter. Tower Research Capital LLC TRC now owns 3,394 shares of the company’s stock worth $25,000 after acquiring an additional 2,906 shares during the last quarter. HighTower Advisors LLC acquired a new position in Tencent Music Entertainment Group during the 1st quarter worth $51,000. GABELLI & Co INVESTMENT ADVISERS INC. acquired a new position in Tencent Music Entertainment Group during the 3rd quarter worth $64,000. PDS Planning Inc acquired a new position in Tencent Music Entertainment Group during the 3rd quarter worth $65,000. Finally, China Universal Asset Management Co. Ltd. acquired a new position in Tencent Music Entertainment Group during the 3rd quarter worth $66,000. Institutional investors and hedge funds own 23.59% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on TME shares. JPMorgan Chase & Co. raised shares of Tencent Music Entertainment Group from a “neutral” rating to an “overweight” rating and upped their price objective for the company from $7.00 to $10.00 in a research report on Thursday, November 16th. Redburn Atlantic started coverage on shares of Tencent Music Entertainment Group in a research report on Monday, February 5th. They set a “buy” rating and a $12.00 price objective for the company. Mizuho upped their price objective on shares of Tencent Music Entertainment Group from $10.00 to $11.00 and gave the company a “buy” rating in a research report on Wednesday, January 17th. UBS Group raised shares of Tencent Music Entertainment Group from a “neutral” rating to a “buy” rating and set a $10.50 price objective for the company in a research report on Wednesday, January 24th. Finally, CLSA started coverage on shares of Tencent Music Entertainment Group in a research report on Monday, February 5th. They set an “outperform” rating and a $10.50 price objective for the company. Two analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $9.47.

Get Our Latest Stock Analysis on Tencent Music Entertainment Group

Tencent Music Entertainment Group Stock Performance

NYSE:TME opened at $9.67 on Monday. Tencent Music Entertainment Group has a 12-month low of $5.70 and a 12-month high of $9.82. The company has a quick ratio of 2.46, a current ratio of 2.46 and a debt-to-equity ratio of 0.10. The firm has a market capitalization of $16.59 billion, a PE ratio of 22.49, a price-to-earnings-growth ratio of 0.76 and a beta of 0.81. The firm has a 50-day moving average price of $8.88 and a 200 day moving average price of $7.61.

Tencent Music Entertainment Group (NYSE:TMEGet Free Report) last posted its quarterly earnings data on Tuesday, November 14th. The company reported $0.74 earnings per share for the quarter, topping the consensus estimate of $0.11 by $0.63. The company had revenue of $6.57 billion during the quarter, compared to analyst estimates of $6.28 billion. Tencent Music Entertainment Group had a net margin of 16.82% and a return on equity of 9.71%. The company’s revenue was down 10.8% on a year-over-year basis. During the same quarter last year, the business posted $0.10 earnings per share. Research analysts anticipate that Tencent Music Entertainment Group will post 0.46 earnings per share for the current fiscal year.

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

See Also

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Institutional Ownership by Quarter for Tencent Music Entertainment Group (NYSE:TME)

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