Tencent Music Entertainment Group (NYSE:TME) Stock Holdings Decreased by Baillie Gifford & Co.

Baillie Gifford & Co. lessened its position in Tencent Music Entertainment Group (NYSE:TME) by 2.7% in the 3rd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 21,520,498 shares of the company’s stock after selling 595,424 shares during the quarter. Baillie Gifford & Co.’s holdings in Tencent Music Entertainment Group were worth $259,322,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in TME. QRG Capital Management Inc. lifted its holdings in shares of Tencent Music Entertainment Group by 5.7% in the second quarter. QRG Capital Management Inc. now owns 15,843 shares of the company’s stock valued at $223,000 after purchasing an additional 860 shares in the last quarter. DekaBank Deutsche Girozentrale lifted its stake in Tencent Music Entertainment Group by 0.9% in the 2nd quarter. DekaBank Deutsche Girozentrale now owns 101,442 shares of the company’s stock worth $1,403,000 after acquiring an additional 922 shares in the last quarter. Tobam boosted its position in Tencent Music Entertainment Group by 37.7% during the 2nd quarter. Tobam now owns 3,498 shares of the company’s stock worth $49,000 after acquiring an additional 957 shares during the period. Atomi Financial Group Inc. grew its stake in Tencent Music Entertainment Group by 6.1% during the 2nd quarter. Atomi Financial Group Inc. now owns 26,996 shares of the company’s stock valued at $379,000 after acquiring an additional 1,561 shares in the last quarter. Finally, Diversify Wealth Management LLC increased its holdings in shares of Tencent Music Entertainment Group by 3.9% in the 3rd quarter. Diversify Wealth Management LLC now owns 49,146 shares of the company’s stock valued at $570,000 after purchasing an additional 1,862 shares during the period. Institutional investors and hedge funds own 24.32% of the company’s stock.

Tencent Music Entertainment Group Trading Up 1.4 %

NYSE:TME opened at $11.56 on Tuesday. 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 50 day moving average is $11.41 and its 200-day moving average is $12.85. The firm has a market cap of $19.83 billion, a price-to-earnings ratio of 23.11, a P/E/G ratio of 0.84 and a beta of 0.67. Tencent Music Entertainment Group has a 12 month low of $6.76 and a 12 month high of $15.77.

Tencent Music Entertainment Group (NYSE:TME) last announced its earnings results on Tuesday, August 13th. The company reported $0.15 EPS for the quarter, missing the consensus estimate of $0.16 by ($0.01). Tencent Music Entertainment Group had a return on equity of 10.11% and a net margin of 20.35%. The firm had revenue of $985.00 million during the quarter, compared to the consensus estimate of $1 billion. Equities analysts anticipate that Tencent Music Entertainment Group will post 0.63 EPS for the current year.

Analyst Ratings Changes

TME has been the topic of a number of research analyst reports. Benchmark lowered their price objective on shares of Tencent Music Entertainment Group from $19.00 to $15.00 and set a “buy” rating on the stock in a research report on Wednesday, August 14th. Sanford C. Bernstein started coverage on shares of Tencent Music Entertainment Group in a report on Monday, November 4th. They set an “outperform” rating and a $14.00 price target on the stock. Morgan Stanley lowered Tencent Music Entertainment Group from an “overweight” rating to an “equal weight” rating and cut their price objective for the stock from $15.00 to $13.00 in a report on Wednesday, September 25th. Daiwa America downgraded Tencent Music Entertainment Group from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, August 13th. Finally, Mizuho cut their price target 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. Four equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $13.03.

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.