GSA Capital Partners LLP Purchases 52,818 Shares of Tencent Music Entertainment Group (NYSE:TME)

GSA Capital Partners LLP grew its holdings in Tencent Music Entertainment Group (NYSE:TME - Free Report) by 47.9% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 163,027 shares of the company's stock after buying an additional 52,818 shares during the quarter. GSA Capital Partners LLP's holdings in Tencent Music Entertainment Group were worth $1,964,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of TME. Progeny 3 Inc. acquired a new stake in Tencent Music Entertainment Group in the second quarter valued at $11,436,000. Swedbank AB acquired a new stake in Tencent Music Entertainment Group in the 1st quarter valued at about $1,980,000. Russell Investments Group Ltd. lifted its stake in Tencent Music Entertainment Group by 102.8% during the first quarter. Russell Investments Group Ltd. now owns 707,683 shares of the company's stock valued at $7,919,000 after purchasing an additional 358,694 shares during the last quarter. Diversified Trust Co acquired a new position in Tencent Music Entertainment Group in the second quarter worth approximately $632,000. Finally, Sei Investments Co. increased its holdings in shares of Tencent Music Entertainment Group by 115.9% in the first quarter. Sei Investments Co. now owns 1,846,116 shares of the company's stock valued at $20,658,000 after buying an additional 991,056 shares in the last quarter. Hedge funds and other institutional investors own 24.32% of the company's stock.

Analyst Ratings Changes

Several analysts have issued reports on TME shares. Morgan Stanley downgraded Tencent Music Entertainment Group from an "overweight" rating to an "equal weight" rating and cut their price objective for the stock from $15.00 to $13.00 in a report on Wednesday, September 25th. Sanford C. Bernstein initiated coverage on Tencent Music Entertainment Group in a report on Monday, November 4th. They set an "outperform" rating and a $14.00 price target on the stock. Barclays started coverage on shares of Tencent Music Entertainment Group in a research note on Wednesday, November 6th. They issued an "overweight" rating and a $16.00 price objective on the stock. Daiwa America downgraded shares of Tencent Music Entertainment Group from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, August 13th. Finally, Bank of America dropped their target price on shares of Tencent Music Entertainment Group from $18.00 to $15.00 and set a "buy" rating for the company in a research report on Wednesday, August 14th. Four analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to data from MarketBeat, Tencent Music Entertainment Group currently has an average rating of "Moderate Buy" and an average target price of $13.03.

Tencent Music Entertainment Group Trading Down 2.3 %

NYSE TME traded down $0.25 during trading hours on Wednesday, hitting $10.67. 8,531,843 shares of the company's stock were exchanged, compared to its average volume of 8,640,193. The firm has a market cap of $18.31 billion, a price-to-earnings ratio of 19.72, a PEG ratio of 0.81 and a beta of 0.67. The stock has a 50-day simple moving average of $11.42 and a 200 day simple moving average of $12.84. 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 1-year low of $6.76 and a 1-year high of $15.77.

Tencent Music Entertainment Group (NYSE:TME - Get Free Report) last released its quarterly earnings data on Tuesday, August 13th. The company reported $0.15 earnings per share for the quarter, missing the consensus estimate 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 business had revenue of $985.00 million for the quarter, compared to analyst estimates of $1 billion. On average, equities analysts forecast that Tencent Music Entertainment Group will post 0.63 EPS 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.