Robeco Institutional Asset Management B.V. Increases Stock Position in Tencent Music Entertainment Group (NYSE:TME)

Robeco Institutional Asset Management B.V. raised its holdings in Tencent Music Entertainment Group (NYSE:TME - Free Report) by 69.3% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 3,612,406 shares of the company's stock after acquiring an additional 1,478,397 shares during the period. Robeco Institutional Asset Management B.V. owned about 0.21% of Tencent Music Entertainment Group worth $43,529,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of TME. Vanguard Group Inc. raised 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 during the period. Ninety One UK Ltd purchased a new position in Tencent Music Entertainment Group in the 2nd quarter valued at approximately $122,775,000. Driehaus Capital Management LLC raised its holdings in Tencent Music Entertainment Group by 37.0% during the 2nd quarter. Driehaus Capital Management LLC now owns 7,129,342 shares of the company's stock valued at $100,167,000 after acquiring an additional 1,925,124 shares during the period. The Manufacturers Life Insurance Company boosted its holdings in Tencent Music Entertainment Group by 58.6% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 6,180,406 shares of the company's stock valued at $86,835,000 after purchasing an additional 2,284,347 shares during the period. Finally, Allspring Global Investments Holdings LLC grew its holdings in shares of Tencent Music Entertainment Group by 14.4% during the third quarter. Allspring Global Investments Holdings LLC now owns 5,973,760 shares of the company's stock worth $71,984,000 after purchasing an additional 753,383 shares in the last quarter. 24.32% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several research firms have commented on TME. Morgan Stanley downgraded 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 research note on Wednesday, September 25th. Daiwa America cut Tencent Music Entertainment Group from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, August 13th. Barclays began coverage on Tencent Music Entertainment Group in a research report on Wednesday. They issued an "overweight" rating and a $16.00 target price on the stock. Daiwa Capital Markets cut Tencent Music Entertainment Group from an "outperform" rating to a "neutral" rating in a research report on Tuesday, August 13th. Finally, Mizuho lowered 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 note on Wednesday, August 14th. Four research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $13.03.

Tencent Music Entertainment Group Trading Down 0.9 %

Shares of Tencent Music Entertainment Group stock traded down $0.11 on Wednesday, reaching $11.62. The company had a trading volume of 6,375,892 shares, compared to its average volume of 8,632,315. The firm has a market cap of $19.94 billion, a price-to-earnings ratio of 23.24, a P/E/G ratio of 0.83 and a beta of 0.67. The firm's 50-day moving average price is $11.34 and its two-hundred day moving average price is $12.86. Tencent Music Entertainment Group has a 1 year low of $6.76 and a 1 year high of $15.77. 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 announced its earnings results on Tuesday, August 13th. The company reported $0.15 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.16 by ($0.01). Tencent Music Entertainment Group had a net margin of 20.35% and a return on equity of 10.11%. The business had revenue of $985.00 million for the quarter, compared to analysts' expectations of $1 billion. As a group, research analysts predict that Tencent Music Entertainment Group will post 0.63 earnings per share for the current fiscal year.

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.