Kepler Cheuvreux Suisse SA Purchases New Position in Tencent Music Entertainment Group Sponsored ADR $TME

Kepler Cheuvreux Suisse SA acquired a new position in Tencent Music Entertainment Group Sponsored ADR (NYSE:TME) in the third quarter, HoldingsChannel.com reports. The firm acquired 55,860 shares of the company’s stock, valued at approximately $1,304,000.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Smartleaf Asset Management LLC bought a new stake in shares of Tencent Music Entertainment Group in the 3rd quarter worth $31,000. Global Retirement Partners LLC lifted its holdings in shares of Tencent Music Entertainment Group by 1,326.5% during the third quarter. Global Retirement Partners LLC now owns 1,883 shares of the company’s stock valued at $44,000 after purchasing an additional 1,751 shares in the last quarter. Jones Financial Companies Lllp lifted its holdings in shares of Tencent Music Entertainment Group by 137.4% during the third quarter. Jones Financial Companies Lllp now owns 2,414 shares of the company’s stock valued at $57,000 after purchasing an additional 1,397 shares in the last quarter. EverSource Wealth Advisors LLC boosted its position in shares of Tencent Music Entertainment Group by 83.0% during the second quarter. EverSource Wealth Advisors LLC now owns 3,005 shares of the company’s stock valued at $59,000 after buying an additional 1,363 shares during the last quarter. Finally, MAI Capital Management purchased a new stake in shares of Tencent Music Entertainment Group during the second quarter valued at $73,000. 24.32% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on TME shares. Benchmark reduced their price objective on Tencent Music Entertainment Group from $28.00 to $25.00 and set a “buy” rating for the company in a report on Thursday, November 13th. Morgan Stanley dropped their price target on shares of Tencent Music Entertainment Group from $27.50 to $25.00 and set an “overweight” rating on the stock in a report on Monday, December 22nd. Weiss Ratings reiterated a “hold (c+)” rating on shares of Tencent Music Entertainment Group in a research note on Monday, December 29th. Finally, Barclays boosted their price objective on shares of Tencent Music Entertainment Group from $27.00 to $28.00 and gave the company an “overweight” rating in a report on Wednesday, November 12th. One research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $25.79.

Tencent Music Entertainment Group Stock Performance

TME stock opened at $13.35 on Thursday. The company has a debt-to-equity ratio of 0.04, a current ratio of 2.09 and a quick ratio of 2.08. Tencent Music Entertainment Group Sponsored ADR has a 1 year low of $11.71 and a 1 year high of $26.70. The company has a market cap of $22.90 billion, a P/E ratio of 13.90, a price-to-earnings-growth ratio of 0.88 and a beta of 0.56. The stock’s fifty day moving average price is $15.99 and its 200-day moving average price is $19.60.

About Tencent Music Entertainment Group

Tencent Music Entertainment Group (NYSE: TME) is a China-based digital music and audio entertainment platform that operates a portfolio of leading music streaming and social entertainment services. Its core consumer-facing products include streaming apps, online karaoke (KTV) services and live music and entertainment broadcasts. The company monetizes its content through a mix of subscriptions, digital music sales, in-app purchases, virtual gifting, advertising and licensing arrangements with rights holders.

The company traces its roots to the consolidation of Tencent’s music assets and was established in the mid-2010s to unify several prominent music properties under a single operating entity.