Asset Management One Co. Ltd. Has $5.88 Million Stock Position in Tencent Music Entertainment Group (NYSE:TME)

Asset Management One Co. Ltd. grew its stake in shares of Tencent Music Entertainment Group (NYSE:TME) by 2.2% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 502,083 shares of the company’s stock after purchasing an additional 10,905 shares during the period. Asset Management One Co. Ltd.’s holdings in Tencent Music Entertainment Group were worth $5,884,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also recently made changes to their positions in TME. Cantillon Capital Management LLC raised its holdings in shares of Tencent Music Entertainment Group by 39.9% during the third quarter. Cantillon Capital Management LLC now owns 18,456,585 shares of the company’s stock valued at $222,402,000 after purchasing an additional 5,265,783 shares during the period. Mawer Investment Management Ltd. raised its holdings 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 purchasing an additional 4,178,636 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position 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 acquiring an additional 3,594,383 shares in the last quarter. FMR LLC increased its position in shares of Tencent Music Entertainment Group by 98.8% during the third quarter. FMR LLC now owns 5,970,773 shares of the company’s stock worth $71,948,000 after acquiring an additional 2,967,779 shares in the last quarter. Finally, Coronation Fund Managers Ltd. increased its position in shares of Tencent Music Entertainment Group by 84.6% during the third quarter. Coronation Fund Managers Ltd. now owns 5,656,233 shares of the company’s stock worth $68,158,000 after acquiring an additional 2,592,381 shares in the last quarter. Institutional investors and hedge funds own 24.32% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have recently commented on the stock. 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. Morgan Stanley raised shares of 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 report on Tuesday, January 21st. Finally, Sanford C. Bernstein assumed 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 target price for the company. Three investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $14.04.

Tencent Music Entertainment Group Stock Down 0.0 %

TME opened at $13.61 on Wednesday. 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 stock has a market cap of $23.35 billion, a price-to-earnings ratio of 25.19, a PEG ratio of 0.73 and a beta of 0.70. Tencent Music Entertainment Group has a twelve month low of $9.15 and a twelve month high of $15.77. The company’s 50-day moving average price is $11.64 and its two-hundred day moving average price is $11.51.

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.