Tidal Investments LLC Has $1.40 Million Stake in Tencent Music Entertainment Group (NYSE:TME)

Tidal Investments LLC boosted its position in Tencent Music Entertainment Group (NYSE:TME) by 28.9% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 116,068 shares of the company’s stock after purchasing an additional 26,004 shares during the period. Tidal Investments LLC’s holdings in Tencent Music Entertainment Group were worth $1,399,000 at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. Cantillon Capital Management LLC increased its stake in shares of Tencent Music Entertainment Group by 39.9% in the third quarter. Cantillon Capital Management LLC now owns 18,456,585 shares of the company’s stock valued at $222,402,000 after buying an additional 5,265,783 shares during the period. Acadian Asset Management LLC increased its position in Tencent Music Entertainment Group by 18,902.2% in the 2nd quarter. Acadian Asset Management LLC now owns 4,468,752 shares of the company’s stock valued at $62,765,000 after acquiring an additional 4,445,235 shares during the period. Mawer Investment Management Ltd. raised its stake in shares of Tencent Music Entertainment Group by 1,131.8% during the third quarter. Mawer Investment Management Ltd. now owns 4,547,836 shares of the company’s stock valued at $54,801,000 after acquiring an additional 4,178,636 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in shares of Tencent Music Entertainment Group by 287.4% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 4,845,013 shares of the company’s stock worth $58,382,000 after purchasing an additional 3,594,383 shares during the period. Finally, FMR LLC grew its stake in shares of Tencent Music Entertainment Group by 98.8% in the third quarter. FMR LLC now owns 5,970,773 shares of the company’s stock worth $71,948,000 after purchasing an additional 2,967,779 shares during the last quarter. 24.32% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on TME shares. Morgan Stanley lowered Tencent Music Entertainment Group from an “overweight” rating to an “equal weight” rating and lowered their target price for the stock from $15.00 to $13.00 in a research report on Wednesday, September 25th. Sanford C. Bernstein initiated coverage on Tencent Music Entertainment Group in a research note on Monday, November 4th. They issued an “outperform” rating and a $14.00 price objective on the stock. Finally, Barclays assumed coverage on shares of Tencent Music Entertainment Group in a research report on Wednesday, November 6th. They set an “overweight” rating and a $16.00 target price for the company. Four research analysts have rated the stock with a hold rating and ten have given a buy rating to the company. According to MarketBeat.com, Tencent Music Entertainment Group has an average rating of “Moderate Buy” and an average target price of $13.28.

Tencent Music Entertainment Group Stock Performance

NYSE:TME opened at $11.77 on Thursday. The firm has a market capitalization of $20.20 billion, a P/E ratio of 21.80, a P/E/G ratio of 0.91 and a beta of 0.68. Tencent Music Entertainment Group has a twelve month low of $8.15 and a twelve month high of $15.77. The company has a fifty day moving average of $11.71 and a 200-day moving average of $12.39. The company has a quick ratio of 2.34, a current ratio of 2.34 and a debt-to-equity ratio of 0.09.

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.