Tencent Music Entertainment Group (NYSE:TME) Shares Purchased by Skandinaviska Enskilda Banken AB publ

Skandinaviska Enskilda Banken AB publ raised its stake in Tencent Music Entertainment Group (NYSE:TME) by 9.8% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 131,074 shares of the company’s stock after purchasing an additional 11,700 shares during the quarter. Skandinaviska Enskilda Banken AB publ’s holdings in Tencent Music Entertainment Group were worth $1,844,000 at the end of the most recent quarter.

Several other institutional investors also recently made changes to their positions in TME. QRG Capital Management Inc. increased its holdings in Tencent Music Entertainment Group by 5.7% in the 2nd 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 boosted its position in shares of Tencent Music Entertainment Group by 0.9% in the second quarter. DekaBank Deutsche Girozentrale now owns 101,442 shares of the company’s stock worth $1,403,000 after buying an additional 922 shares during the period. Tobam grew its stake in shares of Tencent Music Entertainment Group by 37.7% in the second quarter. Tobam now owns 3,498 shares of the company’s stock valued at $49,000 after buying an additional 957 shares in the last quarter. Atomi Financial Group Inc. grew its stake in shares of Tencent Music Entertainment Group by 6.1% in the second quarter. Atomi Financial Group Inc. now owns 26,996 shares of the company’s stock valued at $379,000 after buying an additional 1,561 shares in the last quarter. Finally, Parallel Advisors LLC raised its holdings in shares of Tencent Music Entertainment Group by 27.1% during the 4th quarter. Parallel Advisors LLC now owns 10,927 shares of the company’s stock valued at $98,000 after buying an additional 2,328 shares during the period. 24.32% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several brokerages have issued reports on TME. Daiwa America downgraded shares of Tencent Music Entertainment Group from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, August 13th. Daiwa Capital Markets lowered shares of Tencent Music Entertainment Group from an “outperform” rating to a “neutral” rating in a report on Tuesday, August 13th. Bank of America decreased their price objective on shares of Tencent Music Entertainment Group from $18.00 to $15.00 and set a “buy” rating for the company in a research report on Wednesday, August 14th. Benchmark dropped their target price on 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. Finally, Mizuho reduced their price target on Tencent Music Entertainment Group from $17.00 to $16.00 and set an “outperform” rating for the company in a report on Wednesday, August 14th. Three investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $12.72.

Tencent Music Entertainment Group Trading Up 3.2 %

NYSE:TME opened at $10.18 on Tuesday. Tencent Music Entertainment Group has a 52 week low of $6.09 and a 52 week high of $15.77. 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 has a market cap of $17.46 billion, a PE ratio of 22.12, a P/E/G ratio of 0.70 and a beta of 0.65. The business’s 50 day moving average is $11.72 and its two-hundred day moving average is $12.66.

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

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.