GAM Holding AG Has $2.21 Million Stock Holdings in Tencent Music Entertainment Group (NYSE:TME)

GAM Holding AG boosted its holdings in Tencent Music Entertainment Group (NYSE:TME - Free Report) by 108.0% during the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 183,000 shares of the company's stock after purchasing an additional 95,000 shares during the quarter. GAM Holding AG's holdings in Tencent Music Entertainment Group were worth $2,205,000 at the end of the most recent quarter.

Other hedge funds also recently added to or reduced their stakes in the company. QRG Capital Management Inc. grew its holdings in Tencent Music Entertainment Group by 5.7% during the 2nd quarter. QRG Capital Management Inc. now owns 15,843 shares of the company's stock valued at $223,000 after buying an additional 860 shares in the last quarter. DekaBank Deutsche Girozentrale grew its holdings in Tencent Music Entertainment Group by 0.9% in the second quarter. DekaBank Deutsche Girozentrale now owns 101,442 shares of the company's stock worth $1,403,000 after purchasing an additional 922 shares during the last quarter. Tobam lifted its stake in shares of Tencent Music Entertainment Group by 37.7% during the second quarter. Tobam now owns 3,498 shares of the company's stock worth $49,000 after buying an additional 957 shares during the period. Atomi Financial Group Inc. increased its holdings in shares of Tencent Music Entertainment Group by 6.1% in the second quarter. Atomi Financial Group Inc. now owns 26,996 shares of the company's stock valued at $379,000 after purchasing an additional 1,561 shares during the period. Finally, Ashton Thomas Private Wealth LLC acquired a new stake in Tencent Music Entertainment Group during the 2nd quarter valued at approximately $37,000. 24.32% of the stock is currently owned by hedge funds and other institutional investors.

Tencent Music Entertainment Group Stock Performance

NYSE TME remained flat at $11.80 on Wednesday. The company's stock had a trading volume of 256,028 shares, compared to its average volume of 8,784,849. The firm has a 50-day simple moving average of $11.14 and a 200 day simple moving average of $12.88. Tencent Music Entertainment Group has a 1 year low of $6.76 and a 1 year high of $15.77. The company has a market capitalization of $20.25 billion, a P/E ratio of 25.65, a price-to-earnings-growth ratio of 0.89 and a beta of 0.66. 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 (NYSE:TME - Get Free Report) last posted its earnings results on Tuesday, August 13th. The company reported $0.15 earnings per share for the quarter, missing analysts' consensus estimates of $0.16 by ($0.01). The business had revenue of $985.00 million during the quarter, compared to the consensus estimate of $1 billion. Tencent Music Entertainment Group had a net margin of 20.35% and a return on equity of 10.11%. On average, analysts anticipate that Tencent Music Entertainment Group will post 0.62 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of equities research analysts have recently commented on TME shares. Benchmark dropped their target price on Tencent Music Entertainment Group from $19.00 to $15.00 and set a "buy" rating on the stock in a research report on Wednesday, August 14th. Mizuho lowered their price objective on Tencent Music Entertainment Group from $17.00 to $16.00 and set an "outperform" rating on the stock in a research note on Wednesday, August 14th. Morgan Stanley lowered shares of 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 research report on Wednesday, September 25th. Bank of America cut their price objective on 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. Finally, 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. Four investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $12.67.

Tencent Music Entertainment Group 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.