Banque Cantonale Vaudoise Sells 50,099 Shares of Tencent Music Entertainment Group (NYSE:TME)

Banque Cantonale Vaudoise decreased its holdings in Tencent Music Entertainment Group (NYSE:TME - Free Report) by 25.0% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 150,000 shares of the company's stock after selling 50,099 shares during the period. Banque Cantonale Vaudoise's holdings in Tencent Music Entertainment Group were worth $1,808,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently added to or reduced their stakes in the company. Mitsubishi UFJ Trust & Banking Corp increased its position in Tencent Music Entertainment Group by 13.1% during the 1st quarter. Mitsubishi UFJ Trust & Banking Corp now owns 205,075 shares of the company's stock valued at $2,290,000 after buying an additional 23,827 shares in the last quarter. Vanguard Group Inc. increased its stake in Tencent Music Entertainment Group by 0.3% during the 1st quarter. Vanguard Group Inc. now owns 25,057,674 shares of the company's stock worth $280,395,000 after buying an additional 84,131 shares in the last quarter. Acadian Asset Management LLC raised its stake in Tencent Music Entertainment Group by 180,800.0% in the 1st quarter. Acadian Asset Management LLC now owns 23,517 shares of the company's stock valued at $262,000 after purchasing an additional 23,504 shares during the last quarter. O Shaughnessy Asset Management LLC lifted its stake in Tencent Music Entertainment Group by 39.4% in the 1st quarter. O Shaughnessy Asset Management LLC now owns 36,868 shares of the company's stock worth $413,000 after purchasing an additional 10,419 shares in the last quarter. Finally, CANADA LIFE ASSURANCE Co raised its holdings in shares of Tencent Music Entertainment Group by 39.9% during the 1st quarter. CANADA LIFE ASSURANCE Co now owns 752,474 shares of the company's stock worth $8,416,000 after acquiring an additional 214,500 shares during the period. Hedge funds and other institutional investors own 24.32% of the company's stock.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on TME shares. Sanford C. Bernstein assumed coverage on shares of Tencent Music Entertainment Group in a research report on Monday, November 4th. They set an "outperform" rating and a $14.00 price target for the company. Barclays started coverage on shares of Tencent Music Entertainment Group in a research report on Wednesday, November 6th. They issued an "overweight" rating and a $16.00 target price on the stock. Bank of America decreased their price target on shares of Tencent Music Entertainment Group from $18.00 to $15.00 and set a "buy" rating for the company in a research note on Wednesday, August 14th. Benchmark cut their price target on Tencent Music Entertainment Group from $19.00 to $15.00 and set a "buy" rating for the company in a research note on Wednesday, August 14th. Finally, Morgan Stanley cut Tencent Music Entertainment Group from an "overweight" rating to an "equal weight" rating and reduced their price target for the company 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 ten have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $13.28.

Tencent Music Entertainment Group Trading Up 2.6 %

NYSE:TME opened at $11.44 on Thursday. The company has a current ratio of 2.34, a quick ratio of 2.34 and a debt-to-equity ratio of 0.09. The business's 50-day moving average price is $11.54 and its two-hundred day moving average price is $12.76. Tencent Music Entertainment Group has a 1-year low of $7.93 and a 1-year high of $15.77. The firm has a market capitalization of $19.63 billion, a price-to-earnings ratio of 21.19, a PEG ratio of 0.84 and a beta of 0.67.

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.