BNP Paribas Arbitrage SA boosted its holdings in Tencent Music Entertainment Group (NYSE:TME – Get Rating ) by 2.3% in the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 1,912,681 shares of the company’s stock after purchasing an additional 42,824 shares during the period. BNP Paribas Arbitrage SA owned about 0.11% of Tencent Music Entertainment Group worth $9,602,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also recently bought and sold shares of the company. Founders Financial Securities LLC bought a new position in Tencent Music Entertainment Group in the second quarter valued at about $50,000. Cerity Partners LLC bought a new position in Tencent Music Entertainment Group in the second quarter valued at about $51,000. HighTower Advisors LLC bought a new position in Tencent Music Entertainment Group in the 1st quarter worth about $51,000. O Shaughnessy Asset Management LLC bought a new position in Tencent Music Entertainment Group in the second quarter valued at about $54,000. Finally, Parallel Advisors LLC boosted its holdings in Tencent Music Entertainment Group by 50.0% during the second quarter. Parallel Advisors LLC now owns 11,795 shares of the company’s stock worth $59,000 after buying an additional 3,931 shares during the last quarter. Hedge funds and other institutional investors own 22.62% of the company’s shares.
Tencent Music Entertainment Group trades down 3.7%
Shares of NYSE TME stock opened at $5.78 on Monday. The company has a market cap of $9.80 billion, a price-to-earnings ratio of 20.64, a price-to-earnings-growth ratio of 0.86 and a beta of 0.63. Tencent Music Entertainment Group has a 12-month low of $2.95 and a 12-month high of $7.66. 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 stock’s 50-day simple moving average is $4.33 and its 200-day simple moving average is $4.46.
Tencent Music Entertainment Group (NYSE:TME – Get Rating ) last announced its quarterly earnings results on Tuesday, November 15th. The company reported $0.10 earnings per share (EPS) 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 the consensus estimate of $1.01 billion. Tencent Music Entertainment Group had a return on equity of 6.74% and a net margin of 10.61%. equities research analysts expect that Tencent Music Entertainment Group will post 0.34 EPS for the current year.
The Wall Street analyst weighs in
A number of research firms have commented on TME. Goldman Sachs Group cut their price target on Tencent Music Entertainment Group from $5.40 to $4.40 in a report on Sunday, November 6th. JPMorgan Chase & Co. raised Tencent Music Entertainment Group from a “neutral” rating to an “overweight” rating and boosted their target price for the stock from $4.80 to $7.70 in a report on Monday, November 21st. Finally, Benchmark raised Tencent Music Entertainment Group from a “hold” rating to a “buy” rating and set a $7.00 target price on the stock in a report on Wednesday, November 16th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and two have given a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus price target of $6.23, according to MarketBeat.com.
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 allow users to discover and listen to music in personalized ways; and WeSing, which allows users to have fun singing and interacting with friends, sharing their performances with friends and discovering songs that others have played.
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