Vontobel Holding Ltd. Takes $375,000 Position in Tencent Music Entertainment Group (NYSE:TME)

Vontobel Holding Ltd. purchased a new position in shares of Tencent Music Entertainment Group (NYSE:TME - Free Report) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 33,077 shares of the company's stock, valued at approximately $375,000.

Several other institutional investors have also modified their holdings of the stock. Cantillon Capital Management LLC lifted its position 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 worth $222,402,000 after buying an additional 5,265,783 shares during the last quarter. State Street Corp lifted its position in shares of Tencent Music Entertainment Group by 1.3% during the 3rd quarter. State Street Corp now owns 12,821,488 shares of the company's stock worth $154,499,000 after buying an additional 166,225 shares during the last quarter. Allspring Global Investments Holdings LLC lifted its position in shares of Tencent Music Entertainment Group by 8.7% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 6,496,359 shares of the company's stock worth $73,539,000 after buying an additional 522,599 shares during the last quarter. FMR LLC raised its position in Tencent Music Entertainment Group by 98.8% in the 3rd quarter. FMR LLC now owns 5,970,773 shares of the company's stock valued at $71,948,000 after purchasing an additional 2,967,779 shares during the last quarter. Finally, Coronation Fund Managers Ltd. raised its position in Tencent Music Entertainment Group by 84.6% in the 3rd quarter. Coronation Fund Managers Ltd. now owns 5,656,233 shares of the company's stock valued at $68,158,000 after purchasing an additional 2,592,381 shares during the last quarter. Hedge funds and other institutional investors own 24.32% of the company's stock.

Analyst Ratings Changes

TME has been the subject of several research reports. Barclays initiated 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 target for the company. Sanford C. Bernstein assumed coverage on shares of Tencent Music Entertainment Group in a research note on Monday, November 4th. They set an "outperform" rating and a $14.00 price target on the stock. Finally, 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 on the stock in a research note on Tuesday, January 21st. Three equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $14.04.

Tencent Music Entertainment Group Trading Up 12.6 %

TME traded up $1.61 during trading on Friday, reaching $14.44. The company had a trading volume of 24,738,722 shares, compared to its average volume of 7,622,211. The firm's 50-day simple moving average is $11.71 and its 200 day simple moving average is $11.54. The company has a market cap of $24.79 billion, a price-to-earnings ratio of 26.75, a PEG ratio of 0.79 and a beta of 0.70. Tencent Music Entertainment Group has a 12-month low of $9.15 and a 12-month high of $15.77. The company has a debt-to-equity ratio of 0.09, a quick ratio of 2.34 and a current ratio of 2.34.

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.