Union Bancaire Privee UBP SA Makes New $370,000 Investment in Tencent Music Entertainment Group (NYSE:TME)

Union Bancaire Privee UBP SA bought a new stake in Tencent Music Entertainment Group (NYSE:TME - Free Report) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 33,650 shares of the company's stock, valued at approximately $370,000.

Several other institutional investors have also recently modified their holdings of TME. Cantillon Capital Management LLC grew its holdings in shares of Tencent Music Entertainment Group by 39.9% during the 3rd quarter. Cantillon Capital Management LLC now owns 18,456,585 shares of the company's stock valued at $222,402,000 after purchasing an additional 5,265,783 shares during the last quarter. Mawer Investment Management Ltd. increased its position in Tencent Music Entertainment Group by 1,131.8% during the 3rd quarter. Mawer Investment Management Ltd. now owns 4,547,836 shares of the company's stock valued at $54,801,000 after purchasing an additional 4,178,636 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in Tencent Music Entertainment Group by 287.4% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 4,845,013 shares of the company's stock worth $58,382,000 after buying an additional 3,594,383 shares in the last quarter. FMR LLC raised its position in shares of Tencent Music Entertainment Group by 98.8% in the 3rd quarter. FMR LLC now owns 5,970,773 shares of the company's stock worth $71,948,000 after acquiring an additional 2,967,779 shares in the last quarter. Finally, Coronation Fund Managers Ltd. raised its holdings in 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 purchasing an additional 2,592,381 shares in the last quarter. 24.32% of the stock is currently owned by institutional investors.

Tencent Music Entertainment Group Price Performance

TME stock traded down $0.13 during trading on Wednesday, reaching $11.65. The company's stock had a trading volume of 4,387,388 shares, compared to its average volume of 6,951,865. The company has a market capitalization of $19.99 billion, a P/E ratio of 21.57, a price-to-earnings-growth ratio of 0.67 and a beta of 0.69. The company has a quick ratio of 2.34, a current ratio of 2.34 and a debt-to-equity ratio of 0.09. The company's fifty day moving average is $11.49 and its 200-day moving average is $11.71. Tencent Music Entertainment Group has a 1 year low of $8.88 and a 1 year high of $15.77.

Wall Street Analysts Forecast Growth

TME has been the topic of a number of analyst reports. Barclays initiated coverage on Tencent Music Entertainment Group in a research report on Wednesday, November 6th. They issued an "overweight" rating and a $16.00 price target on the stock. Morgan Stanley raised shares of Tencent Music Entertainment Group from an "equal weight" rating to an "overweight" rating and set a $13.00 price objective for the company in a report on Tuesday, January 21st. Finally, Sanford C. Bernstein assumed coverage on Tencent Music Entertainment Group in a report on Monday, November 4th. They issued an "outperform" rating and a $14.00 target price on the stock. Three research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $13.54.

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.