Vontobel Holding Ltd. Invests $375,000 in Tencent Music Entertainment Group (NYSE:TME)

Vontobel Holding Ltd. purchased a new stake in Tencent Music Entertainment Group (NYSE:TME) in the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor purchased 33,077 shares of the company’s stock, valued at approximately $375,000.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Wilmington Savings Fund Society FSB purchased a new stake in Tencent Music Entertainment Group in the 3rd quarter valued at $64,000. Avior Wealth Management LLC raised its position in Tencent Music Entertainment Group by 253.8% in the 3rd quarter. Avior Wealth Management LLC now owns 5,675 shares of the company’s stock valued at $68,000 after purchasing an additional 4,071 shares during the last quarter. Caprock Group LLC purchased a new stake in Tencent Music Entertainment Group in the 3rd quarter valued at $147,000. Diversify Advisory Services LLC purchased a new stake in Tencent Music Entertainment Group in the 3rd quarter valued at $166,000. Finally, DRW Securities LLC purchased a new stake in Tencent Music Entertainment Group in the 3rd quarter valued at $169,000. Hedge funds and other institutional investors own 24.32% of the company’s stock.

Tencent Music Entertainment Group Stock Performance

NYSE:TME opened at $12.80 on Friday. The company has a quick ratio of 2.34, a current ratio of 2.34 and a debt-to-equity ratio of 0.09. Tencent Music Entertainment Group has a fifty-two week low of $9.15 and a fifty-two week high of $15.77. The stock has a market cap of $21.96 billion, a PE ratio of 23.69, a price-to-earnings-growth ratio of 0.82 and a beta of 0.70. The firm’s fifty day simple moving average is $11.71 and its 200-day simple moving average is $11.54.

Analyst Upgrades and Downgrades

Several analysts recently commented on TME shares. Sanford C. Bernstein started coverage on shares of Tencent Music Entertainment Group in a research report on Monday, November 4th. They issued an “outperform” rating and a $14.00 price target 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 price objective on the stock in a research note on Tuesday, January 21st. Finally, Barclays started coverage on shares of Tencent Music Entertainment Group in a research note on Wednesday, November 6th. They issued an “overweight” rating and a $16.00 price objective on the stock. Three equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to data from MarketBeat, Tencent Music Entertainment Group has an average rating of “Moderate Buy” and a consensus target price of $14.04.

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.