Tencent Music Entertainment Group (NYSE:TME) Stock Holdings Lifted by US Bancorp DE

US Bancorp DE lifted its holdings in Tencent Music Entertainment Group (NYSE:TME) by 278.6% during the third quarter, according to the company in its most recent filing with the SEC. The fund owned 101,174 shares of the company’s stock after buying an additional 74,452 shares during the quarter. US Bancorp DE’s holdings in Tencent Music Entertainment Group were worth $1,219,000 as of its most recent filing with the SEC.

A number of other large investors also recently modified their holdings of TME. Ashton Thomas Private Wealth LLC bought a new position in shares of Tencent Music Entertainment Group in the 2nd quarter worth about $37,000. Tobam lifted its position in shares of Tencent Music Entertainment Group by 37.7% in the 2nd quarter. Tobam now owns 3,498 shares of the company’s stock worth $49,000 after buying an additional 957 shares during the last quarter. iA Global Asset Management Inc. lifted its position in shares of Tencent Music Entertainment Group by 728.9% in the 1st quarter. iA Global Asset Management Inc. now owns 11,687 shares of the company’s stock worth $131,000 after buying an additional 10,277 shares during the last quarter. Diversify Advisory Services LLC bought a new position in shares of Tencent Music Entertainment Group in the 3rd quarter worth about $166,000. Finally, Wrapmanager Inc. bought a new position in shares of Tencent Music Entertainment Group in the 2nd quarter worth about $192,000. 24.32% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

TME has been the topic of a number of recent research reports. Sanford C. Bernstein began coverage on shares of Tencent Music Entertainment Group in a research report on Monday. They issued an “outperform” rating and a $14.00 price target on the stock. Benchmark dropped their price objective on shares of Tencent Music Entertainment Group from $19.00 to $15.00 and set a “buy” rating on the stock in a report on Wednesday, August 14th. Daiwa Capital Markets cut shares of Tencent Music Entertainment Group from an “outperform” rating to a “neutral” rating in a report on Tuesday, August 13th. Bank of America dropped their price objective on shares of Tencent Music Entertainment Group from $18.00 to $15.00 and set a “buy” rating on the stock in a report on Wednesday, August 14th. Finally, Barclays began coverage on shares of Tencent Music Entertainment Group in a report on Wednesday. They issued an “overweight” rating and a $16.00 price objective on the stock. Four equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Tencent Music Entertainment Group currently has a consensus rating of “Moderate Buy” and an average target price of $13.03.

Tencent Music Entertainment Group Stock Up 1.5 %

Tencent Music Entertainment Group stock opened at $11.79 on Friday. The stock has a market cap of $20.23 billion, a price-to-earnings ratio of 23.56, a PEG ratio of 0.83 and a beta of 0.67. The company has a current ratio of 2.34, a quick ratio of 2.34 and a debt-to-equity ratio of 0.09. The company’s 50-day moving average price is $11.34 and its two-hundred day moving average price is $12.86. Tencent Music Entertainment Group has a 52 week low of $6.76 and a 52 week high of $15.77.

Tencent Music Entertainment Group (NYSE:TME) last announced its quarterly earnings data on Tuesday, August 13th. The company reported $0.15 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.16 by ($0.01). The business had revenue of $985.00 million during the quarter, compared to analyst estimates of $1 billion. Tencent Music Entertainment Group had a return on equity of 10.11% and a net margin of 20.35%. On average, analysts expect that Tencent Music Entertainment Group will post 0.63 EPS for the current fiscal year.

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; long-form audio content, including audiobooks, podcasts and talk shows, as well as music-oriented video content comprising music videos, live performances, and short videos; and WeSing, which enables users to sing along from its library of karaoke songs and share their performances in audio or video formats with friends.