B. Metzler seel. Sohn & Co. Holding AG Takes $2.27 Million Position in Tencent Music Entertainment Group (NYSE:TME)

B. Metzler seel. Sohn & Co. Holding AG purchased a new stake in Tencent Music Entertainment Group (NYSE:TME - Free Report) during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 188,376 shares of the company's stock, valued at approximately $2,270,000.

Several other institutional investors also recently modified their holdings of TME. Ashton Thomas Private Wealth LLC purchased a new position in Tencent Music Entertainment Group during the 2nd quarter worth approximately $37,000. Tobam grew its position in Tencent Music Entertainment Group by 37.7% during the 2nd quarter. Tobam now owns 3,498 shares of the company's stock worth $49,000 after purchasing an additional 957 shares in the last quarter. iA Global Asset Management Inc. grew its position in Tencent Music Entertainment Group by 728.9% during the 1st quarter. iA Global Asset Management Inc. now owns 11,687 shares of the company's stock worth $131,000 after purchasing an additional 10,277 shares in the last quarter. Caprock Group LLC purchased a new position in Tencent Music Entertainment Group during the 3rd quarter worth approximately $147,000. Finally, Wrapmanager Inc. purchased a new position in Tencent Music Entertainment Group during the 2nd quarter worth approximately $192,000. Institutional investors own 24.32% of the company's stock.

Analysts Set New Price Targets

Several equities analysts have recently commented on the stock. Benchmark lowered their price target on shares of Tencent Music Entertainment Group from $19.00 to $15.00 and set a "buy" rating on the stock in a report on Wednesday, August 14th. Barclays assumed coverage on shares of Tencent Music Entertainment Group in a report on Wednesday, November 6th. They set an "overweight" rating and a $16.00 price target on the stock. Daiwa America cut shares of Tencent Music Entertainment Group from a "strong-buy" rating to a "hold" rating in a report on Tuesday, August 13th. Daiwa Capital Markets cut shares of Tencent Music Entertainment Group from an "outperform" rating to a "neutral" rating in a report on Tuesday, August 13th. Finally, Bank of America lowered their price target on shares of Tencent Music Entertainment Group from $18.00 to $15.00 and set a "buy" rating on the stock in a report on Wednesday, August 14th. Four analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $13.28.

Tencent Music Entertainment Group Stock Performance

Tencent Music Entertainment Group stock traded up $0.01 on Friday, reaching $11.53. 4,608,540 shares of the stock were exchanged, compared to its average volume of 8,607,105. The stock has a market cap of $19.79 billion, a PE ratio of 21.35, a PEG ratio of 0.84 and a beta of 0.67. 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 $7.93 and a twelve month high of $15.77. The firm has a fifty day moving average price of $11.62 and a two-hundred day moving average price of $12.74.

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.