Tencent Music Entertainment Group (NYSE:TME) Holdings Decreased by Robeco Institutional Asset Management B.V.

Robeco Institutional Asset Management B.V. reduced its holdings in Tencent Music Entertainment Group (NYSE:TME) by 96.8% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 116,532 shares of the company’s stock after selling 3,495,874 shares during the period. Robeco Institutional Asset Management B.V.’s holdings in Tencent Music Entertainment Group were worth $1,323,000 at the end of the most recent reporting period.

Other institutional investors have also recently bought and sold shares of the company. Matthews International Capital Management LLC boosted its holdings in shares of Tencent Music Entertainment Group by 136.9% during the fourth quarter. Matthews International Capital Management LLC now owns 756,957 shares of the company’s stock worth $8,591,000 after purchasing an additional 437,418 shares during the period. Union Bancaire Privee UBP SA acquired a new stake in shares of Tencent Music Entertainment Group during the 4th quarter valued at $370,000. Exchange Traded Concepts LLC grew its stake in Tencent Music Entertainment Group by 232.6% in the fourth quarter. Exchange Traded Concepts LLC now owns 129,170 shares of the company’s stock valued at $1,466,000 after purchasing an additional 90,329 shares in the last quarter. Harbour Capital Advisors LLC grew its stake in Tencent Music Entertainment Group by 81.2% in the fourth quarter. Harbour Capital Advisors LLC now owns 55,480 shares of the company’s stock valued at $619,000 after purchasing an additional 24,860 shares in the last quarter. Finally, Nordea Investment Management AB grew its stake in Tencent Music Entertainment Group by 9.5% in the fourth quarter. Nordea Investment Management AB now owns 1,464,366 shares of the company’s stock valued at $16,738,000 after purchasing an additional 127,561 shares in the last quarter. 24.32% of the stock is currently owned by institutional investors and hedge funds.

Tencent Music Entertainment Group Trading Down 1.8 %

Tencent Music Entertainment Group stock opened at $11.77 on Tuesday. The business has a 50 day moving average price of $11.52 and a two-hundred day moving average price of $11.65. The company has a quick ratio of 2.34, a current ratio of 2.34 and a debt-to-equity ratio of 0.09. The stock has a market cap of $20.19 billion, a price-to-earnings ratio of 21.79, a price-to-earnings-growth ratio of 0.72 and a beta of 0.69. Tencent Music Entertainment Group has a 12 month low of $9.07 and a 12 month high of $15.77.

Analyst Upgrades and Downgrades

A number of research analysts have commented on TME shares. Barclays began coverage on Tencent Music Entertainment Group in a research note on Wednesday, November 6th. They issued an “overweight” rating and a $16.00 target price on the stock. Morgan Stanley raised Tencent Music Entertainment Group from an “equal weight” rating to an “overweight” rating and set a $13.00 price target for the company in a research report on Tuesday, January 21st. Finally, Sanford C. Bernstein initiated coverage on Tencent Music Entertainment Group in a research report on Monday, November 4th. They issued an “outperform” rating and a $14.00 price target for the company. Three analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to MarketBeat.com, Tencent Music Entertainment Group currently has an average rating of “Moderate Buy” and a consensus price target of $13.54.

Tencent Music Entertainment Group Company Profile

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.