Greenleaf Trust bought a new stake in Tencent Music Entertainment Group (NYSE:TME – Get Rating ) in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund bought 31,283 shares of the company’s stock, valued at approximately $157,000.
A number of other hedge funds and other institutional investors have also recently bought and sold shares of the stock. O Shaughnessy Asset Management LLC purchased a new position in Tencent Music Entertainment Group in the second quarter valued at about $54,000. Healthcare of Ontario Pension Plan Trust Fund acquired a new position in Tencent Music Entertainment Group in the second quarter valued at approximately $2,885,000. Lombard Odier SCmA increased its stake in Tencent Music Entertainment Group by 5,914.1% in the second quarter. Compagnie Lombard Odier SCmA now owns 378,290 shares of the company’s stock valued at $1,898,000 after acquiring an additional 372,000 shares during the period. Principal Financial Group Inc. raised its stake in Tencent Music Entertainment Group by 215.8% in the second quarter. Principal Financial Group Inc. now owns 113,875 shares of the company’s stock valued at $572,000 after acquiring an additional 77,817 shares during the period. Finally, Cerity Partners LLC acquired a new position in Tencent Music Entertainment Group in the second quarter valued at approximately $51,000. 22.62% of the shares are currently held by institutional investors and hedge funds.
Analysts on Wall Street are forecasting an increase
Several brokerages have recently issued reports on TME. Benchmark upgraded Tencent Music Entertainment Group from a “hold” rating to a “buy” rating and set a $7.00 price objective for the company in a research report on Wednesday, November 16th. JPMorgan Chase & Co. upgraded Tencent Music Entertainment Group from a “neutral” rating to an “overweight” rating and boosted their price objective for the stock from $4.80 to $7.70 in a research report on Monday, 21 November. Finally, Goldman Sachs Group dropped their price objective on Tencent Music Entertainment Group from $5.40 to $4.40 in a research report on Sunday, November 6th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and two have issued a buy rating to the stock. Tencent Music Entertainment Group currently has a consensus rating of “Hold” and an average target price of $6.23, according to MarketBeat .
Tencent Music Entertainment Group price performance
Shares of NYSE:TME opened at $5.78 on Monday. Tencent Music Entertainment Group has a 12-month low of $2.95 and a 12-month high of $7.66. The stock has a market cap of $9.80 billion, a price-to-earnings ratio of 20.64, a PEG ratio of 0.86 and a beta of 0.63. The stock’s 50-day moving average price is $4.33 and its 200-day moving average price is $4.46. The company has a debt-to-equity ratio of 0.12, a current ratio of 2.15, and a quick ratio of 2.15.
Tencent Music Entertainment Group (NYSE:TME – Get Rating ) last announced its earnings results on Tuesday, November 15th. The company reported $0.10 EPS for the quarter, topping the consensus estimate of $0.08 by $0.02. Tencent Music Entertainment Group had a return on equity of 6.74% and a net margin of 10.61%. The firm had revenue of $1.04 billion for the quarter, compared to analysts’ expectations of $1.01 billion. equities research analysts anticipate that Tencent Music Entertainment Group will post 0.34 earnings per share for the current fiscal year.
Tencent Music Entertainment Group Profile
(Get rating)
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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