Tencent Music Entertainment Group (NYSE:TME) Shares Bought by Cantillon Capital Management LLC

Cantillon Capital Management LLC grew its stake in shares of Tencent Music Entertainment Group (NYSE:TME) by 18.3% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 21,840,815 shares of the company’s stock after acquiring an additional 3,384,230 shares during the period. Cantillon Capital Management LLC owned about 1.27% of Tencent Music Entertainment Group worth $247,893,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Bank of Montreal Can lifted its position in shares of 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 valued at $2,235,000 after acquiring an additional 84,161 shares during the period. BNP Paribas Financial Markets lifted its position in shares of 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 valued at $23,028,000 after acquiring an additional 480,504 shares during the period. Principal Financial Group Inc. lifted its position in shares of 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 valued at $66,013,000 after acquiring an additional 211,873 shares during the period. Fiera Capital Corp lifted its position in shares of Tencent Music Entertainment Group by 21.2% during the 3rd quarter. Fiera Capital Corp now owns 434,353 shares of the company’s stock valued at $5,234,000 after acquiring an additional 75,991 shares during the period. Finally, US Bancorp DE lifted its position in shares of Tencent Music Entertainment Group by 278.6% during the 3rd quarter. US Bancorp DE now owns 101,174 shares of the company’s stock valued at $1,219,000 after acquiring an additional 74,452 shares during the period. 24.32% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on TME shares. Sanford C. Bernstein started 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. Barclays began coverage on shares of Tencent Music Entertainment Group in a research note on Wednesday, November 6th. They set an “overweight” rating and a $16.00 price objective for the company. Finally, 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 research note on Tuesday, January 21st. Three analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $14.04.

Tencent Music Entertainment Group Stock Down 4.4 %

TME stock opened at $12.19 on Friday. The stock has a market capitalization of $20.91 billion, a P/E ratio of 22.56, a PEG ratio of 0.77 and a beta of 0.70. The company has a debt-to-equity ratio of 0.09, a quick ratio of 2.34 and a current ratio of 2.34. Tencent Music Entertainment Group has a one year low of $9.15 and a one year high of $15.77. The company has a 50 day moving average price of $11.86 and a two-hundred day moving average price of $11.54.

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.