Genus Capital Management Inc. Has $483,000 Position in Tencent Music Entertainment Group Sponsored ADR $TME

Genus Capital Management Inc. lowered its position in Tencent Music Entertainment Group Sponsored ADR (NYSE:TME) by 8.5% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 24,777 shares of the company’s stock after selling 2,300 shares during the quarter. Genus Capital Management Inc.’s holdings in Tencent Music Entertainment Group were worth $483,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. SVB Wealth LLC acquired a new stake in Tencent Music Entertainment Group in the first quarter valued at $34,000. Banque Transatlantique SA acquired a new stake in Tencent Music Entertainment Group in the first quarter valued at $46,000. Brooklyn Investment Group lifted its stake in Tencent Music Entertainment Group by 957.1% in the first quarter. Brooklyn Investment Group now owns 4,757 shares of the company’s stock valued at $69,000 after acquiring an additional 4,307 shares during the last quarter. iA Global Asset Management Inc. acquired a new stake in Tencent Music Entertainment Group in the second quarter valued at $131,000. Finally, Haven Private LLC acquired a new stake in Tencent Music Entertainment Group in the second quarter valued at $237,000. Institutional investors and hedge funds own 24.32% of the company’s stock.

Analyst Ratings Changes

A number of analysts have recently issued reports on TME shares. Bank of America started coverage on shares of Tencent Music Entertainment Group in a research note on Tuesday, October 28th. They set a “neutral” rating and a $25.00 target price for the company. Daiwa Capital Markets upgraded shares of Tencent Music Entertainment Group from a “neutral” rating to an “outperform” rating in a research note on Tuesday, August 12th. Macquarie set a $29.80 target price on shares of Tencent Music Entertainment Group and gave the stock an “outperform” rating in a research note on Tuesday, August 12th. Wall Street Zen raised shares of Tencent Music Entertainment Group from a “hold” rating to a “buy” rating in a research report on Friday, August 22nd. Finally, Benchmark raised their price target on shares of Tencent Music Entertainment Group from $19.00 to $28.00 and gave the stock a “buy” rating in a research report on Wednesday, August 13th. One research analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and two have given a Hold rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $24.54.

Tencent Music Entertainment Group Stock Down 0.1%

Shares of NYSE TME opened at $22.48 on Thursday. The company has a market capitalization of $38.58 billion, a P/E ratio of 24.70, a price-to-earnings-growth ratio of 1.36 and a beta of 0.51. The company’s 50 day moving average price is $23.72 and its 200-day moving average price is $20.73. The company has a debt-to-equity ratio of 0.04, a quick ratio of 1.87 and a current ratio of 1.87. Tencent Music Entertainment Group Sponsored ADR has a 52-week low of $10.11 and a 52-week high of $26.70.

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.