West Family Investments Inc. Acquires Shares of 22,971 Tencent Music Entertainment Group (NYSE:TME)

West Family Investments Inc. acquired a new stake in shares of Tencent Music Entertainment Group (NYSE:TMEGet Rating) during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 22,971 shares of the company’s stock, valued at approximately $93,000.

Several other institutional investors have also added to or reduced their stakes in the business. Asset Management One Co. Ltd. lifted its holdings in Tencent Music Entertainment Group by 18.5% during the third quarter. Asset Management One Co. Ltd. now owns 156,018 shares of the company’s stock valued at $633,000 after purchasing an additional 24,365 shares during the last quarter. Russell Investments Group Ltd. lifted its holdings in Tencent Music Entertainment Group by 49.0% during the third quarter. Russell Investments Group Ltd. now owns 1,146,348 shares of the company’s stock valued at $4,651,000 after purchasing an additional 377,224 shares during the last quarter. Creative Planning purchased a new stake in Tencent Music Entertainment Group during the third quarter valued at about $90,000. Teacher Retirement System of Texas purchased a new stake in Tencent Music Entertainment Group during the third quarter valued at about $1,089,000. Finally, Barclays PLC lifted its holdings in Tencent Music Entertainment Group by 17.5% during the third quarter. Barclays PLC now owns 1,645,511 shares of the company’s stock valued at $6,681,000 after purchasing an additional 244,812 shares during the last quarter. 21.77% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on the company. Benchmark upgraded Tencent Music Entertainment Group from a “hold” rating to a “buy” rating and set a $7.00 price target on the stock in a research report on Wednesday, November 16th. The Goldman Sachs Group upgraded Tencent Music Entertainment Group from a “sell” rating to a “neutral” rating and upped their price target for the company from $5.00 to $8.00 in a research 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 target for the company from $4.50 to $8.50 in a research report on Thursday, December 1st. Daiwa Capital Markets assumed coverage on Tencent Music Entertainment Group in a research report on Friday, January 13th. They set a “buy” rating on the stock. Finally, JPMorgan Chase & Co. upgraded Tencent Music Entertainment Group from a “neutral” rating to an “overweight” rating and upped their price target for the company from $4.80 to $7.70 in a research report on Monday, November 21st. Two investment analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $7.02.

Tencent Music Entertainment Group Stock Up 0.9 %

TME stock opened at $8.56 on Wednesday. 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 company’s 50 day moving average is $7.73 and its 200 day moving average is $5.53. The stock has a market cap of $14.51 billion, a price-to-earnings ratio of 30.57, a price-to-earnings-growth ratio of 0.73 and a beta of 0.79. Tencent Music Entertainment Group has a 1-year low of $2.95 and a 1-year high of $9.29.

Tencent Music Entertainment Group (NYSE:TMEGet Rating) last posted its quarterly earnings data on Tuesday, November 15th. The company reported $0.10 earnings per share for the quarter, topping the consensus estimate of $0.08 by $0.02. The company had revenue of $1.04 billion for the quarter, compared to analysts’ expectations of $1.01 billion. Tencent Music Entertainment Group had a net margin of 10.61% and a return on equity of 6.74%. Sell-side analysts predict that Tencent Music Entertainment Group will post 0.37 EPS for the current fiscal year.

About Tencent Music Entertainment Group

(Get Rating)

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

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