C WorldWide Group Holding A S Sells 22,360 Shares of Tencent Music Entertainment Group (NYSE:TME)

C WorldWide Group Holding A S decreased its position in shares of Tencent Music Entertainment Group (NYSE:TME) by 1.5% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,499,891 shares of the company’s stock after selling 22,360 shares during the quarter. C WorldWide Group Holding A S owned 0.09% of Tencent Music Entertainment Group worth $17,024,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Bank of Montreal Can lifted its position in Tencent Music Entertainment Group by 86.0% during the third quarter. Bank of Montreal Can now owns 181,991 shares of the company’s stock worth $2,235,000 after purchasing an additional 84,161 shares during the period. BNP Paribas Financial Markets raised its stake in Tencent Music Entertainment Group by 33.6% during the third 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. raised its stake in Tencent Music Entertainment Group by 4.0% during the third 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 raised its stake in Tencent Music Entertainment Group by 21.2% during the third 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 raised its stake in Tencent Music Entertainment Group by 278.6% during the third 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. Institutional investors own 24.32% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have commented on the company. Morgan Stanley raised Tencent Music Entertainment Group from an “equal weight” rating to an “overweight” rating and set a $13.00 target price for the company in a research note on Tuesday, January 21st. Sanford C. Bernstein assumed coverage on Tencent Music Entertainment Group in a research note on Monday, November 4th. They set an “outperform” rating and a $14.00 target price for the company. Finally, Barclays assumed coverage on Tencent Music Entertainment Group in a research note on Wednesday, November 6th. They set an “overweight” rating and a $16.00 target price for the company. Three research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $14.04.

Tencent Music Entertainment Group Stock Performance

Tencent Music Entertainment Group stock opened at $14.44 on Monday. The business has a 50 day moving average of $11.76 and a 200-day moving average of $11.53. 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 current ratio of 2.34 and a quick ratio of 2.34. The company has a market capitalization of $24.79 billion, a P/E ratio of 26.75, a P/E/G ratio of 0.77 and a beta of 0.70.

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.