Union Bancaire Privee UBP SA Purchases New Shares in Tencent Music Entertainment Group (NYSE:TME)

Union Bancaire Privee UBP SA acquired a new position in shares of Tencent Music Entertainment Group (NYSE:TME) in the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm acquired 33,650 shares of the company’s stock, valued at approximately $370,000.

Other hedge funds also recently added to or reduced their stakes in the company. Bank of Montreal Can grew its holdings in Tencent Music Entertainment Group by 86.0% during the 3rd quarter. Bank of Montreal Can now owns 181,991 shares of the company’s stock worth $2,235,000 after acquiring an additional 84,161 shares in the last quarter. BNP Paribas Financial Markets grew its holdings in Tencent Music Entertainment Group by 33.6% during the 3rd quarter. BNP Paribas Financial Markets now owns 1,911,048 shares of the company’s stock worth $23,028,000 after acquiring an additional 480,504 shares in the last quarter. Principal Financial Group Inc. grew its holdings in Tencent Music Entertainment Group by 4.0% during the 3rd quarter. Principal Financial Group Inc. now owns 5,478,297 shares of the company’s stock worth $66,013,000 after acquiring an additional 211,873 shares in the last quarter. Fiera Capital Corp grew its holdings in Tencent Music Entertainment Group by 21.2% during the 3rd quarter. Fiera Capital Corp now owns 434,353 shares of the company’s stock worth $5,234,000 after acquiring an additional 75,991 shares in the last quarter. Finally, US Bancorp DE grew its holdings in Tencent Music Entertainment Group by 278.6% during the 3rd quarter. US Bancorp DE now owns 101,174 shares of the company’s stock worth $1,219,000 after acquiring an additional 74,452 shares in the last quarter. 24.32% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on TME shares. 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 for the company in a report on Tuesday, January 21st. Barclays started coverage on shares of Tencent Music Entertainment Group in a report on Wednesday, November 6th. They set an “overweight” rating and a $16.00 price objective for the company. Finally, Sanford C. Bernstein started coverage on shares of Tencent Music Entertainment Group in a research report on Monday, November 4th. They issued an “outperform” rating and a $14.00 price target on the stock. Three research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $14.04.

Tencent Music Entertainment Group Trading Down 9.8 %

Tencent Music Entertainment Group stock opened at $12.98 on Tuesday. The company has a market cap of $22.27 billion, a P/E ratio of 24.03, a PEG ratio of 0.77 and a beta of 0.70. The firm’s 50-day moving average is $11.79 and its 200-day moving average is $11.52. Tencent Music Entertainment Group has a 1 year low of $9.15 and a 1 year 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.

About Tencent Music Entertainment Group

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.