Fiera Capital Corp Has $5.04 Million Stock Holdings in Tencent Music Entertainment Group (NYSE:TME)

Fiera Capital Corp lifted its holdings in shares of Tencent Music Entertainment Group (NYSE:TME) by 10.4% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 358,362 shares of the company’s stock after buying an additional 33,888 shares during the quarter. Fiera Capital Corp’s holdings in Tencent Music Entertainment Group were worth $5,035,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also modified their holdings of the company. Tobam raised its position in shares of Tencent Music Entertainment Group by 37.7% during the 2nd quarter. Tobam now owns 3,498 shares of the company’s stock valued at $49,000 after acquiring an additional 957 shares during the last quarter. SageView Advisory Group LLC acquired a new position in Tencent Music Entertainment Group in the fourth quarter valued at about $90,000. Parallel Advisors LLC boosted its holdings in Tencent Music Entertainment Group by 27.1% during the fourth quarter. Parallel Advisors LLC now owns 10,927 shares of the company’s stock worth $98,000 after buying an additional 2,328 shares during the last quarter. iA Global Asset Management Inc. grew its position in shares of Tencent Music Entertainment Group by 728.9% during the 1st quarter. iA Global Asset Management Inc. now owns 11,687 shares of the company’s stock worth $131,000 after buying an additional 10,277 shares during the period. Finally, QRG Capital Management Inc. grew its position in shares of Tencent Music Entertainment Group by 24.7% during the 4th quarter. QRG Capital Management Inc. now owns 14,624 shares of the company’s stock worth $132,000 after buying an additional 2,898 shares during the period. 24.32% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on TME shares. Daiwa America downgraded shares of Tencent Music Entertainment Group from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, August 13th. Bank of America cut their target price on shares of Tencent Music Entertainment Group from $18.00 to $15.00 and set a “buy” rating on the stock in a report on Wednesday, August 14th. Benchmark decreased their price target on shares of Tencent Music Entertainment Group from $19.00 to $15.00 and set a “buy” rating for the company in a report on Wednesday, August 14th. Daiwa Capital Markets downgraded Tencent Music Entertainment Group from an “outperform” rating to a “neutral” rating in a research note on Tuesday, August 13th. Finally, Mizuho decreased their target price on Tencent Music Entertainment Group from $17.00 to $16.00 and set an “outperform” rating for the company in a research note on Wednesday, August 14th. Three investment analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $12.72.

Tencent Music Entertainment Group Stock Performance

TME opened at $10.35 on Wednesday. The company has a market capitalization of $17.76 billion, a price-to-earnings ratio of 22.50, a P/E/G ratio of 0.78 and a beta of 0.65. The business’s 50-day moving average price is $13.06 and its two-hundred day moving average price is $12.69. Tencent Music Entertainment Group has a 1 year low of $5.96 and a 1 year high of $15.77. The company has a debt-to-equity ratio of 0.09, a current ratio of 2.34 and a quick 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.