Lindbrook Capital LLC Acquires 2,044 Shares of Tencent Music Entertainment Group (NYSE:TME)

Lindbrook Capital LLC increased its holdings in Tencent Music Entertainment Group (NYSE:TME) by 40.9% in the 4th quarter, HoldingsChannel.com reports. The fund owned 7,036 shares of the company’s stock after buying an additional 2,044 shares during the period. Lindbrook Capital LLC’s holdings in Tencent Music Entertainment Group were worth $63,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently modified their holdings of the business. Wellington Management Group LLP lifted its stake in Tencent Music Entertainment Group by 65.3% in the third quarter. Wellington Management Group LLP now owns 10,928,746 shares of the company’s stock valued at $69,725,000 after purchasing an additional 4,317,720 shares during the last quarter. Matthews International Capital Management LLC lifted its stake in Tencent Music Entertainment Group by 154.3% in the third quarter. Matthews International Capital Management LLC now owns 3,421,650 shares of the company’s stock valued at $21,830,000 after purchasing an additional 2,076,272 shares during the last quarter. Invesco Ltd. lifted its stake in Tencent Music Entertainment Group by 17.6% in the third quarter. Invesco Ltd. now owns 11,648,403 shares of the company’s stock valued at $74,317,000 after purchasing an additional 1,747,251 shares during the last quarter. Deutsche Bank AG lifted its stake in Tencent Music Entertainment Group by 262.6% in the third quarter. Deutsche Bank AG now owns 2,344,133 shares of the company’s stock valued at $14,956,000 after purchasing an additional 1,697,604 shares during the last quarter. Finally, LSV Asset Management lifted its stake in Tencent Music Entertainment Group by 144.1% in the third quarter. LSV Asset Management now owns 2,439,188 shares of the company’s stock valued at $15,562,000 after purchasing an additional 1,439,988 shares during the last quarter. 24.32% of the stock is owned by institutional investors.

Tencent Music Entertainment Group Stock Up 1.3 %

Shares of NYSE:TME opened at $12.69 on Friday. The stock’s 50-day moving average price is $10.95 and its 200-day moving average price is $9.25. Tencent Music Entertainment Group has a 12-month low of $5.70 and a 12-month high of $12.70. The stock has a market capitalization of $21.78 billion, a P/E ratio of 28.84, a price-to-earnings-growth ratio of 0.77 and a beta of 0.81. 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 (NYSE:TME) last posted its earnings results on Tuesday, March 19th. The company reported $0.13 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.12 by $0.01. The company had revenue of $971.00 million for the quarter, compared to analysts’ expectations of $925.06 million. Tencent Music Entertainment Group had a return on equity of 9.67% and a net margin of 17.71%. On average, equities analysts anticipate that Tencent Music Entertainment Group will post 0.58 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on TME shares. Citigroup upgraded Tencent Music Entertainment Group from a “neutral” rating to a “buy” rating and increased their target price for the stock from $9.00 to $13.00 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 on the stock. UBS Group upgraded Tencent Music Entertainment Group from a “neutral” rating to a “buy” rating and set a $10.50 target price on the stock in a research report on Wednesday, January 24th. Bank of America increased their target price on Tencent Music Entertainment Group from $10.50 to $12.30 and gave the stock a “buy” rating in a research report on Wednesday, March 20th. Finally, Benchmark increased their target price on Tencent Music Entertainment Group from $9.00 to $14.00 and gave the stock a “buy” rating in a research report on Wednesday, March 20th. Two research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target 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.