Mitsubishi UFJ Kokusai Asset Management Co. Ltd. Buys 86,388 Shares of Tencent Music Entertainment Group (NYSE:TME)

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Mitsubishi UFJ Kokusai Asset Management Co. Ltd. boosted its stake in shares of Tencent Music Entertainment Group (NYSE:TMEGet Rating) by 37.9% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 314,160 shares of the company’s stock after acquiring an additional 86,388 shares during the quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd.’s holdings in Tencent Music Entertainment Group were worth $1,275,000 as of its most recent SEC filing.

Other large investors also recently added to or reduced their stakes in the company. Activest Wealth Management bought a new stake in Tencent Music Entertainment Group during the third quarter worth approximately $28,000. Founders Financial Securities LLC bought a new stake in Tencent Music Entertainment Group during the second quarter worth approximately $50,000. Cerity Partners LLC bought a new stake in Tencent Music Entertainment Group during the second quarter worth approximately $51,000. HighTower Advisors LLC bought a new stake in Tencent Music Entertainment Group during the first quarter worth approximately $51,000. Finally, O Shaughnessy Asset Management LLC bought a new stake in Tencent Music Entertainment Group during the second quarter worth approximately $54,000. 21.77% of the stock is owned by institutional investors.

Tencent Music Entertainment Group Stock Up 1.7 %

Shares of NYSE TME opened at $8.37 on Friday. The stock has a 50 day moving average price of $7.59 and a 200 day moving average price of $5.48. The company has a debt-to-equity ratio of 0.12, a quick ratio of 2.15 and a current ratio of 2.15. The firm has a market capitalization of $14.19 billion, a price-to-earnings ratio of 29.89, a PEG ratio of 0.81 and a beta of 0.79. Tencent Music Entertainment Group has a 52-week low of $2.95 and a 52-week high of $9.29.

Tencent Music Entertainment Group (NYSE:TMEGet Rating) last posted its earnings results on Tuesday, November 15th. The company reported $0.10 earnings per share for the quarter, topping analysts’ consensus estimates of $0.08 by $0.02. The company had revenue of $1.04 billion during the quarter, compared to analyst estimates of $1.01 billion. Tencent Music Entertainment Group had a return on equity of 6.74% and a net margin of 10.61%. Sell-side analysts expect that Tencent Music Entertainment Group will post 0.36 earnings per share for the current year.

Analysts Set New Price Targets

TME has been the topic of a number of analyst reports. Morgan Stanley raised Tencent Music Entertainment Group from an “equal weight” rating to an “overweight” rating and upped their target price for the company from $4.50 to $8.50 in a research note on Thursday, December 1st. The Goldman Sachs Group raised Tencent Music Entertainment Group from a “sell” rating to a “neutral” rating and upped their target price for the company from $5.00 to $8.00 in a research note on Monday, January 9th. 86 Research cut Tencent Music Entertainment Group from a “buy” rating to a “hold” rating in a research note on Thursday. Daiwa Capital Markets initiated coverage on Tencent Music Entertainment Group in a research note on Friday, January 13th. They set a “buy” rating on the stock. 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 research note on Wednesday, November 16th. Two analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $7.03.

Tencent Music Entertainment Group Company Profile

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Tencent Music Entertainment Group is a holding company, which engages in the operation of an online music and audio entertainment platform. Its platform is composed of online music, online audio, online karaoke, music-centric live streaming, and online concert services. The company was founded on June 6, 2012 and is headquartered in Shenzhen, China.

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Institutional Ownership by Quarter for Tencent Music Entertainment Group (NYSE:TME)



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