Robeco Institutional Asset Management B.V. Has $1.32 Million Stock Holdings in Tencent Music Entertainment Group (NYSE:TME)

Robeco Institutional Asset Management B.V. trimmed its position in shares of Tencent Music Entertainment Group (NYSE:TME - Free Report) by 96.8% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 116,532 shares of the company's stock after selling 3,495,874 shares during the quarter. Robeco Institutional Asset Management B.V.'s holdings in Tencent Music Entertainment Group were worth $1,323,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently modified their holdings of the company. Intech Investment Management LLC raised its position in Tencent Music Entertainment Group by 9.1% in the 3rd quarter. Intech Investment Management LLC now owns 19,850 shares of the company's stock valued at $239,000 after purchasing an additional 1,664 shares during the last quarter. Diversify Wealth Management LLC raised its holdings in shares of Tencent Music Entertainment Group by 3.9% in the third quarter. Diversify Wealth Management LLC now owns 49,146 shares of the company's stock valued at $570,000 after buying an additional 1,862 shares during the last quarter. Thrivent Financial for Lutherans lifted its position in Tencent Music Entertainment Group by 31.7% during the 3rd quarter. Thrivent Financial for Lutherans now owns 15,550 shares of the company's stock worth $187,000 after buying an additional 3,746 shares in the last quarter. Avior Wealth Management LLC grew its holdings in Tencent Music Entertainment Group by 253.8% during the 3rd quarter. Avior Wealth Management LLC now owns 5,675 shares of the company's stock worth $68,000 after acquiring an additional 4,071 shares during the last quarter. Finally, Handelsbanken Fonder AB increased its position in Tencent Music Entertainment Group by 2.4% in the 3rd quarter. Handelsbanken Fonder AB now owns 179,636 shares of the company's stock valued at $2,165,000 after acquiring an additional 4,265 shares in the last quarter. Institutional investors and hedge funds own 24.32% of the company's stock.

Tencent Music Entertainment Group Trading Up 3.9 %

Shares of NYSE:TME traded up $0.47 during mid-day trading on Friday, reaching $12.54. The stock had a trading volume of 5,907,400 shares, compared to its average volume of 6,667,116. The firm has a market cap of $21.51 billion, a PE ratio of 23.21, a price-to-earnings-growth ratio of 0.72 and a beta of 0.70. The firm has a 50 day simple moving average of $11.56 and a two-hundred day simple moving average of $11.62. 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 twelve month low of $9.15 and a twelve month high of $15.77.

Analyst Ratings Changes

Several research firms recently weighed in on TME. Barclays assumed 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 price objective for the company. Morgan Stanley raised Tencent Music Entertainment Group from an "equal weight" rating to an "overweight" rating and set a $13.00 price target on the stock in a research note on Tuesday, January 21st. Finally, Sanford C. Bernstein started coverage on Tencent Music Entertainment Group in a research report on Monday, November 4th. They issued an "outperform" rating and a $14.00 price objective for the company. Three equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat.com, Tencent Music Entertainment Group currently has an average rating of "Moderate Buy" and a consensus target price of $14.04.

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.