55,860 Shares in Tencent Music Entertainment Group Sponsored ADR $TME Purchased by Kepler Cheuvreux Suisse SA

Kepler Cheuvreux Suisse SA acquired a new position in Tencent Music Entertainment Group Sponsored ADR (NYSE:TME) in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 55,860 shares of the company’s stock, valued at approximately $1,304,000.

Other large investors have also bought and sold shares of the company. Royal Bank of Canada raised its position in shares of Tencent Music Entertainment Group by 9.0% in the 1st quarter. Royal Bank of Canada now owns 144,475 shares of the company’s stock worth $2,082,000 after acquiring an additional 11,979 shares in the last quarter. AQR Capital Management LLC grew its stake in Tencent Music Entertainment Group by 107.5% in the first quarter. AQR Capital Management LLC now owns 85,450 shares of the company’s stock worth $1,231,000 after purchasing an additional 44,265 shares during the period. Jones Financial Companies Lllp bought a new position in Tencent Music Entertainment Group in the first quarter worth $985,000. Acadian Asset Management LLC raised its holdings in Tencent Music Entertainment Group by 385,900.0% in the first quarter. Acadian Asset Management LLC now owns 50,180 shares of the company’s stock worth $722,000 after purchasing an additional 50,167 shares in the last quarter. Finally, Bank of Montreal Can purchased a new position in Tencent Music Entertainment Group during the second quarter valued at $1,908,000. 24.32% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of brokerages have recently commented on TME. Weiss Ratings restated a “hold (c+)” rating on shares of Tencent Music Entertainment Group in a report on Monday, December 29th. Barclays lifted their price target on shares of Tencent Music Entertainment Group from $27.00 to $28.00 and gave the company an “overweight” rating in a research report on Wednesday, November 12th. Benchmark dropped their price objective on shares of Tencent Music Entertainment Group from $28.00 to $25.00 and set a “buy” rating on the stock in a research note on Thursday, November 13th. Finally, Morgan Stanley cut their price objective on shares of Tencent Music Entertainment Group from $27.50 to $25.00 and set an “overweight” rating on the stock in a report on Monday, December 22nd. One research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $25.79.

Tencent Music Entertainment Group Price Performance

TME opened at $13.35 on Thursday. The firm has a market cap of $22.90 billion, a PE ratio of 13.90, a P/E/G ratio of 0.88 and a beta of 0.56. The stock has a 50-day moving average price of $15.99 and a 200-day moving average price of $19.60. Tencent Music Entertainment Group Sponsored ADR has a 1 year low of $11.71 and a 1 year high of $26.70. The company has a debt-to-equity ratio of 0.04, a current ratio of 2.09 and a quick ratio of 2.08.

About Tencent Music Entertainment Group

Tencent Music Entertainment Group (NYSE: TME) is a China-based digital music and audio entertainment platform that operates a portfolio of leading music streaming and social entertainment services. Its core consumer-facing products include streaming apps, online karaoke (KTV) services and live music and entertainment broadcasts. The company monetizes its content through a mix of subscriptions, digital music sales, in-app purchases, virtual gifting, advertising and licensing arrangements with rights holders.

The company traces its roots to the consolidation of Tencent’s music assets and was established in the mid-2010s to unify several prominent music properties under a single operating entity.