Tencent Music Entertainment Group (NYSE:TME) Shares Acquired by Sumitomo Mitsui DS Asset Management Company Ltd

Sumitomo Mitsui DS Asset Management Company Ltd grew its holdings in shares of Tencent Music Entertainment Group (NYSE:TME) by 3.9% in the 4th quarter, HoldingsChannel.com reports. The firm owned 51,636 shares of the company’s stock after purchasing an additional 1,923 shares during the quarter. Sumitomo Mitsui DS Asset Management Company Ltd’s holdings in Tencent Music Entertainment Group were worth $586,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in the business. Cantillon Capital Management LLC boosted its holdings in Tencent Music Entertainment Group by 39.9% in the third quarter. Cantillon Capital Management LLC now owns 18,456,585 shares of the company’s stock worth $222,402,000 after acquiring an additional 5,265,783 shares in the last quarter. Mawer Investment Management Ltd. raised its position in shares of Tencent Music Entertainment Group by 1,131.8% in the 3rd quarter. Mawer Investment Management Ltd. now owns 4,547,836 shares of the company’s stock valued at $54,801,000 after purchasing an additional 4,178,636 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in Tencent Music Entertainment Group by 287.4% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 4,845,013 shares of the company’s stock worth $58,382,000 after purchasing an additional 3,594,383 shares in the last quarter. FMR LLC grew its position in Tencent Music Entertainment Group by 98.8% during the 3rd quarter. FMR LLC now owns 5,970,773 shares of the company’s stock worth $71,948,000 after purchasing an additional 2,967,779 shares during the last quarter. Finally, Coronation Fund Managers Ltd. grew its position in Tencent Music Entertainment Group by 84.6% during the 3rd quarter. Coronation Fund Managers Ltd. now owns 5,656,233 shares of the company’s stock worth $68,158,000 after purchasing an additional 2,592,381 shares during the last quarter. Institutional investors and hedge funds own 24.32% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have recently commented on TME shares. Sanford C. Bernstein began coverage on shares of Tencent Music Entertainment Group in a research note on Monday, November 4th. They set an “outperform” rating and a $14.00 price objective for the company. 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, Barclays started coverage on Tencent Music Entertainment Group in a report on Wednesday, November 6th. They issued an “overweight” rating and a $16.00 price objective on the stock. Three equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $14.04.

Tencent Music Entertainment Group Stock Performance

NYSE TME opened at $12.46 on Wednesday. The stock has a market capitalization of $21.37 billion, a price-to-earnings ratio of 23.06, a PEG ratio of 0.73 and a beta of 0.70. The stock has a 50-day moving average of $11.59 and a 200 day moving average of $11.54. The company has a current ratio of 2.34, a quick ratio of 2.34 and a debt-to-equity ratio of 0.09. Tencent Music Entertainment Group has a twelve month low of $9.15 and a twelve month high of $15.77.

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.