Vanguard Group Inc. Purchases 207,197 Shares of Tencent Music Entertainment Group (NYSE:TME)

Vanguard Group Inc. increased its holdings in Tencent Music Entertainment Group (NYSE:TMEFree Report) by 0.8% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 24,944,394 shares of the company’s stock after purchasing an additional 207,197 shares during the quarter. Vanguard Group Inc. owned approximately 1.45% of Tencent Music Entertainment Group worth $159,145,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently bought and sold shares of TME. Tower Research Capital LLC TRC boosted its holdings in Tencent Music Entertainment Group by 595.5% in the second quarter. Tower Research Capital LLC TRC now owns 3,394 shares of the company’s stock valued at $25,000 after acquiring an additional 2,906 shares in the last quarter. Headinvest LLC purchased a new stake in Tencent Music Entertainment Group in the third quarter worth about $39,000. 1832 Asset Management L.P. bought a new stake in Tencent Music Entertainment Group during the 4th quarter valued at approximately $76,000. GABELLI & Co INVESTMENT ADVISERS INC. purchased a new position in shares of Tencent Music Entertainment Group during the 3rd quarter worth approximately $64,000. Finally, PDS Planning Inc bought a new position in shares of Tencent Music Entertainment Group in the 3rd quarter worth approximately $65,000. Hedge funds and other institutional investors own 24.32% of the company’s stock.

Tencent Music Entertainment Group Stock Down 0.6 %

Tencent Music Entertainment Group stock opened at $11.13 on Tuesday. The company has a current ratio of 2.49, a quick ratio of 2.49 and a debt-to-equity ratio of 0.10. Tencent Music Entertainment Group has a 12 month low of $5.70 and a 12 month high of $11.80. The firm has a market cap of $19.09 billion, a price-to-earnings ratio of 25.28, a PEG ratio of 0.76 and a beta of 0.80. The stock has a fifty day simple moving average of $10.08 and a two-hundred day simple moving average of $8.58.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on TME. Morgan Stanley upped their price target on Tencent Music Entertainment Group from $11.00 to $13.50 and gave the stock an “overweight” rating in a research note on Wednesday, March 20th. Benchmark increased their price target on shares of Tencent Music Entertainment Group from $9.00 to $14.00 and gave the stock a “buy” rating in a research note on Wednesday, March 20th. Redburn Atlantic assumed coverage on shares of Tencent Music Entertainment Group in a research note on Monday, February 5th. They set a “buy” rating and a $12.00 price objective on the stock. HSBC raised their target price on shares of Tencent Music Entertainment Group from $9.50 to $10.40 and gave the company a “hold” rating in a research note on Wednesday, March 20th. Finally, CLSA initiated coverage on Tencent Music Entertainment Group in a research note on Monday, February 5th. They issued an “outperform” rating and a $10.50 price target on the stock. Two investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. Based on data from MarketBeat.com, Tencent Music Entertainment Group presently has a consensus rating of “Moderate Buy” and a consensus price target of $11.63.

Read Our Latest Report on TME

About Tencent Music Entertainment Group

(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.

Featured Stories

Want to see what other hedge funds are holding TME? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Tencent Music Entertainment Group (NYSE:TMEFree Report).

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

Receive News & Ratings for Tencent Music Entertainment Group Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Tencent Music Entertainment Group and related companies with MarketBeat.com's FREE daily email newsletter.