1 week Ago By ABMN Staff
Custom Index Systems LLC purchased a new stake in Tencent Music Entertainment Group ( NYSE:TME – Free Report ) in the second quarter, according to the company in its most recent disclosure with the SEC. The firm purchased 26,831 shares of the company’s stock, valued at approximately $377,000. Several other institutional investors and hedge funds also recently added to or reduced their stakes in TME.
Teacher Retirement System of Texas boosted its holdings in shares of Tencent Music Entertainment Group by 205.0% in the 4th quarter. Teacher Retirement System of Texas now owns 453,563 shares of the company’s stock worth $4,087,000 after purchasing an additional 304,876 shares during the period.
QRG Capital Management Inc. lifted its position in Tencent Music Entertainment Group by 24.7% in the fourth quarter.
QRG Capital Management Inc. now owns 14,624 shares of the company’s stock worth $132,000 after buying an additional 2,898 shares during the last quarter. Janney Montgomery Scott LLC bought a new position in Tencent Music Entertainment Group during the fourth quarter valued at $445,000.
Quadrant Capital Group LLC increased its position in Tencent Music Entertainment Group by 18.3% during the fourth quarter. Quadrant Capital Group LLC now owns 31,587 shares of the company’s stock valued at $285,000 after acquiring an additional 4,881 shares during the last quarter.
Finally, Paradice Investment Management LLC purchased a new stake in shares of Tencent Music Entertainment Group in the fourth quarter valued at $5,210,000. Hedge funds and other institutional investors own 24.32% of the company’s stock.
Analysts Set New Price Targets Several research analysts have issued reports on TME shares. Daiwa America lowered Tencent Music Entertainment Group from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, August 13th. Daiwa Capital Markets downgraded Tencent Music Entertainment Group from an “outperform” rating to a “neutral” rating in a research report on Tuesday, August 13th.
Mizuho decreased their target price on Tencent Music Entertainment Group from $17.00 to $16.00 and set an “outperform” rating for the company in a research report on Wednesday, August 14th.
Benchmark lowered their target price on shares of Tencent Music Entertainment Group from $19.00 to $15.00 and set a “buy” rating for the company in a research note on Wednesday, August 14th.
Finally, Bank of America reduced their price target on shares of Tencent Music Entertainment Group from $18.00 to $15.00 and set a “buy” rating on the stock in a research note on Wednesday, August 14th.
Three equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. According to data from MarketBeat, Tencent Music Entertainment Group currently has a consensus rating of “Moderate Buy” and an average target price of $12.72.
Tencent Music Entertainment Group Price Performance Shares of NYSE TME opened at $10.18 on Monday. Tencent Music Entertainment Group has a 52 week low of $5.
96 and a 52 week high of $15.77. The business’s 50 day moving average price is $12.
84 and its 200 day moving average price is $12.70. 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 firm has a market cap of $17.47 billion, a P/E ratio of 22.13, a P/E/G ratio of 0.
76 and a beta of 0.65. Tencent Music Entertainment Group ( NYSE:TME – Get Free Report ) last released its quarterly earnings data on Tuesday, August 13th.
The company reported $0.15 EPS for the quarter, missing the consensus estimate of $0.16 by ($0.
01). Tencent Music Entertainment Group had a net margin of 20.35% and a return on equity of 10.
11%. The business had revenue of $985.00 million during the quarter, compared to analysts’ expectations of $1 billion.
On average, sell-side analysts expect that Tencent Music Entertainment Group will post 0.63 earnings per share for the current year. About Tencent Music Entertainment Group ( Free Report ) 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. Featured Articles Want to see what other hedge funds are holding TME? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Tencent Music Entertainment Group ( NYSE:TME – Free Report ).
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