Centiva Capital LP cut its position in Tencent Music Entertainment Group (NYSE:TME - Free Report) by 35.0% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 143,309 shares of the company's stock after selling 77,131 shares during the quarter. Centiva Capital LP's holdings in Tencent Music Entertainment Group were worth $1,727,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other institutional investors and hedge funds have also bought and sold shares of the company. Bamco Inc. NY increased its holdings in shares of Tencent Music Entertainment Group by 7.9% in the 3rd quarter. Bamco Inc. NY now owns 3,082,925 shares of the company's stock worth $37,149,000 after buying an additional 226,472 shares during the last quarter. Caisse DE Depot ET Placement DU Quebec increased its holdings in shares of Tencent Music Entertainment Group by 79.6% in the 3rd quarter. Caisse DE Depot ET Placement DU Quebec now owns 2,481,303 shares of the company's stock worth $29,900,000 after buying an additional 1,099,584 shares during the last quarter. Flow Traders U.S. LLC bought a new position in shares of Tencent Music Entertainment Group in the 3rd quarter worth $266,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in shares of 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 buying an additional 3,594,383 shares during the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in shares of Tencent Music Entertainment Group by 6.9% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 456,906 shares of the company's stock worth $5,506,000 after buying an additional 29,512 shares during the last quarter. 24.32% of the stock is currently owned by hedge funds and other institutional investors.
Wall Street Analyst Weigh In
A number of brokerages have recently commented on TME. Morgan Stanley lowered shares of Tencent Music Entertainment Group from an "overweight" rating to an "equal weight" rating and decreased their price target for the stock from $15.00 to $13.00 in a report on Wednesday, September 25th. Sanford C. Bernstein initiated coverage on shares of Tencent Music Entertainment Group in a research report on Monday, November 4th. They issued an "outperform" rating and a $14.00 target price on the stock. Barclays initiated 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. Mizuho decreased their target price on shares of Tencent Music Entertainment Group from $17.00 to $16.00 and set an "outperform" rating on the stock in a research report on Wednesday, August 14th. Finally, Daiwa America cut shares of Tencent Music Entertainment Group from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, August 13th. Four research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. According to data from MarketBeat.com, Tencent Music Entertainment Group has a consensus rating of "Moderate Buy" and a consensus target price of $13.28.
Check Out Our Latest Stock Analysis on TME
Tencent Music Entertainment Group Trading Down 0.9 %
Shares of TME stock traded down $0.11 during mid-day trading on Wednesday, reaching $12.19. The stock had a trading volume of 6,040,318 shares, compared to its average volume of 8,575,604. The stock's 50-day moving average price is $11.86 and its two-hundred day moving average price is $12.58. Tencent Music Entertainment Group has a 52-week low of $7.93 and a 52-week high of $15.77. The firm has a market capitalization of $20.92 billion, a PE ratio of 22.57, a price-to-earnings-growth ratio of 0.92 and a beta of 0.68. 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 Company Profile
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Free Report)
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.
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