Tencent Music Entertainment Group (NYSE:TME) Shares Bought by National Pension Service

National Pension Service grew its holdings in shares of Tencent Music Entertainment Group (NYSE:TME) by 4.4% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 205,781 shares of the company’s stock after purchasing an additional 8,750 shares during the period. National Pension Service’s holdings in Tencent Music Entertainment Group were worth $2,336,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently modified their holdings of TME. Wilmington Savings Fund Society FSB acquired a new stake in shares of Tencent Music Entertainment Group during the third quarter worth $64,000. Avior Wealth Management LLC raised its holdings in shares of Tencent Music Entertainment Group by 253.8% during the third quarter. Avior Wealth Management LLC now owns 5,675 shares of the company’s stock worth $68,000 after purchasing an additional 4,071 shares during the period. Caprock Group LLC acquired a new stake in shares of Tencent Music Entertainment Group during the third quarter worth $147,000. Diversify Advisory Services LLC acquired a new stake in shares of Tencent Music Entertainment Group during the third quarter worth $166,000. Finally, DRW Securities LLC acquired a new stake in shares of Tencent Music Entertainment Group during the third quarter worth $169,000. 24.32% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

TME has been the topic of a number of research reports. Morgan Stanley raised shares of Tencent Music Entertainment Group from an “equal weight” rating to an “overweight” rating and set a $13.00 target price on the stock in a report on Tuesday, January 21st. Sanford C. Bernstein assumed coverage on shares of Tencent Music Entertainment Group in a research report on Monday, November 4th. They set an “outperform” rating and a $14.00 price target for the company. Finally, Barclays assumed coverage on shares of Tencent Music Entertainment Group in a research report on Wednesday, November 6th. They set an “overweight” rating and a $16.00 price target for the company. Three 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, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $14.04.

Tencent Music Entertainment Group Stock Performance

Shares of TME opened at $12.19 on Friday. The firm has a 50-day moving average price of $11.86 and a 200 day moving average price of $11.54. The firm has a market capitalization of $20.91 billion, a PE ratio of 22.56, a P/E/G ratio of 0.77 and a beta of 0.70. The company has a quick ratio of 2.34, a current ratio of 2.34 and a debt-to-equity ratio of 0.09. Tencent Music Entertainment Group has a 52-week low of $9.15 and a 52-week high of $15.77.

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.