Mawer Investment Management Ltd. Increases Holdings in Tencent Music Entertainment Group (NYSE:TME)

Mawer Investment Management Ltd. lifted its holdings in Tencent Music Entertainment Group (NYSE:TME - Free Report) by 1,131.8% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 4,547,836 shares of the company's stock after purchasing an additional 4,178,636 shares during the period. Mawer Investment Management Ltd. owned about 0.27% of Tencent Music Entertainment Group worth $54,801,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in the business. Ninety One UK Ltd acquired a new position in shares of Tencent Music Entertainment Group in the second quarter worth about $122,775,000. Acadian Asset Management LLC boosted its stake in Tencent Music Entertainment Group by 18,902.2% in the 2nd quarter. Acadian Asset Management LLC now owns 4,468,752 shares of the company's stock worth $62,765,000 after purchasing an additional 4,445,235 shares during the period. Bamco Inc. NY purchased a new position in Tencent Music Entertainment Group during the 1st quarter worth approximately $40,857,000. Principal Financial Group Inc. raised its stake in Tencent Music Entertainment Group by 116.5% during the 2nd quarter. Principal Financial Group Inc. now owns 5,266,424 shares of the company's stock valued at $73,993,000 after purchasing an additional 2,834,212 shares during the period. Finally, Coronation Fund Managers Ltd. boosted its position in shares of Tencent Music Entertainment Group by 84.6% in the third quarter. Coronation Fund Managers Ltd. now owns 5,656,233 shares of the company's stock worth $68,158,000 after buying an additional 2,592,381 shares during the period. 24.32% of the stock is currently owned by institutional investors.

Tencent Music Entertainment Group Stock Up 3.8 %

Shares of TME traded up $0.42 during trading hours on Monday, hitting $11.49. The stock had a trading volume of 7,301,592 shares, compared to its average volume of 8,658,713. The company has a debt-to-equity ratio of 0.09, a current ratio of 2.34 and a quick ratio of 2.34. Tencent Music Entertainment Group has a 1-year low of $7.93 and a 1-year high of $15.77. The firm has a 50 day simple moving average of $11.45 and a 200-day simple moving average of $12.80. The firm has a market capitalization of $19.72 billion, a P/E ratio of 21.31, a price-to-earnings-growth ratio of 0.83 and a beta of 0.67.

Analyst Ratings Changes

A number of research analysts recently commented on TME shares. Bank of America lowered their price objective on shares of Tencent Music Entertainment Group from $18.00 to $15.00 and set a "buy" rating on the stock in a research report on Wednesday, August 14th. Sanford C. Bernstein initiated coverage on shares of 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. Mizuho cut their price objective on Tencent Music Entertainment Group from $17.00 to $16.00 and set an "outperform" rating for the company in a report on Wednesday, August 14th. Daiwa Capital Markets lowered Tencent Music Entertainment Group from an "outperform" rating to a "neutral" rating in a research report on Tuesday, August 13th. Finally, Barclays assumed coverage on Tencent Music Entertainment Group in a report on Wednesday, November 6th. They set an "overweight" rating and a $16.00 price target for the company. Four equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $13.28.

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.