Aigen Investment Management LP Takes Position in Tencent Music Entertainment Group (NYSE:TME)

Aigen Investment Management LP purchased a new position in Tencent Music Entertainment Group (NYSE:TME - Free Report) during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund purchased 49,892 shares of the company's stock, valued at approximately $601,000.

Several other hedge funds and other institutional investors also recently bought and sold shares of the business. GSA Capital Partners LLP boosted its stake in Tencent Music Entertainment Group by 47.9% during the 3rd quarter. GSA Capital Partners LLP now owns 163,027 shares of the company's stock valued at $1,964,000 after acquiring an additional 52,818 shares during the last quarter. State of New Jersey Common Pension Fund D lifted its position in shares of Tencent Music Entertainment Group by 1,583.7% during the third quarter. State of New Jersey Common Pension Fund D now owns 302,696 shares of the company's stock worth $3,647,000 after purchasing an additional 284,718 shares during the last quarter. Crossmark Global Holdings Inc. grew its stake in Tencent Music Entertainment Group by 30.7% in the third quarter. Crossmark Global Holdings Inc. now owns 38,460 shares of the company's stock worth $464,000 after purchasing an additional 9,036 shares in the last quarter. Fiera Capital Corp increased its holdings in Tencent Music Entertainment Group by 21.2% in the third quarter. Fiera Capital Corp now owns 434,353 shares of the company's stock valued at $5,234,000 after buying an additional 75,991 shares during the last quarter. Finally, Principal Financial Group Inc. raised its stake in Tencent Music Entertainment Group by 4.0% during the third quarter. Principal Financial Group Inc. now owns 5,478,297 shares of the company's stock valued at $66,013,000 after buying an additional 211,873 shares in the last quarter. 24.32% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities analysts recently issued reports on TME shares. Bank of America reduced their price objective on 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. Daiwa Capital Markets downgraded Tencent Music Entertainment Group from an "outperform" rating to a "neutral" rating in a research note on Tuesday, August 13th. Benchmark dropped their price target on Tencent Music Entertainment Group from $19.00 to $15.00 and set a "buy" rating on the stock in a research report on Wednesday, August 14th. Barclays assumed coverage on Tencent Music Entertainment Group in a research note on Wednesday, November 6th. They set an "overweight" rating and a $16.00 price objective for the company. Finally, Morgan Stanley cut shares of Tencent Music Entertainment Group from an "overweight" rating to an "equal weight" rating and dropped their price objective for the stock from $15.00 to $13.00 in a report on Wednesday, September 25th. Four equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $13.03.

Tencent Music Entertainment Group Stock Up 1.2 %

TME traded up $0.13 during midday trading on Thursday, hitting $10.80. 9,597,377 shares of the company's stock traded hands, compared to its average volume of 8,646,333. The company has a debt-to-equity ratio of 0.09, a current ratio of 2.34 and a quick ratio of 2.34. The company has a market cap of $18.53 billion, a PE ratio of 19.76, a price-to-earnings-growth ratio of 0.81 and a beta of 0.67. Tencent Music Entertainment Group has a one year low of $7.83 and a one year high of $15.77. The stock's fifty day simple moving average is $11.42 and its 200-day simple moving average is $12.82.

Tencent Music Entertainment Group (NYSE:TME - Get Free Report) last issued its quarterly earnings data on Tuesday, August 13th. The company reported $0.15 earnings per share for the quarter, missing analysts' consensus estimates of $0.16 by ($0.01). Tencent Music Entertainment Group had a return on equity of 10.67% and a net margin of 21.53%. The firm had revenue of $985.00 million during the quarter, compared to analyst estimates of $1 billion. As a group, equities analysts anticipate that Tencent Music Entertainment Group will post 0.63 earnings per share for the current fiscal year.

About Tencent Music Entertainment Group

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.