Tencent Music Entertainment Group Sponsored ADR (NYSE:TME) Receives $25.79 Consensus Target Price from Analysts

Shares of Tencent Music Entertainment Group Sponsored ADR (NYSE:TME) have received an average rating of “Moderate Buy” from the thirteen ratings firms that are covering the stock, MarketBeat Ratings reports. Three equities research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company. The average 12-month price target among brokerages that have covered the stock in the last year is $25.7875.

Several research firms have recently commented on TME. Weiss Ratings reiterated a “hold (c+)” rating on shares of Tencent Music Entertainment Group in a research report on Monday, December 29th. Benchmark reduced their target price on 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 lowered their target price on 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.

Tencent Music Entertainment Group Price Performance

NYSE:TME opened at $13.68 on Friday. The company has a debt-to-equity ratio of 0.04, a quick ratio of 2.08 and a current ratio of 2.09. The firm has a 50-day moving average price of $15.91 and a two-hundred day moving average price of $19.56. Tencent Music Entertainment Group has a twelve month low of $11.71 and a twelve month high of $26.70.

Institutional Trading of Tencent Music Entertainment Group

A number of large investors have recently made changes to their positions in TME. Overlook Investments LP purchased a new stake in Tencent Music Entertainment Group during the 4th quarter worth about $278,022,000. Compound Planning Inc. raised its stake in Tencent Music Entertainment Group by 2.6% in the 4th quarter. Compound Planning Inc. now owns 39,324 shares of the company’s stock valued at $689,000 after purchasing an additional 984 shares during the last quarter. Invesco Ltd. lifted its holdings in Tencent Music Entertainment Group by 195.9% in the 4th quarter. Invesco Ltd. now owns 6,991,937 shares of the company’s stock valued at $122,569,000 after purchasing an additional 4,629,058 shares in the last quarter. Mackenzie Financial Corp boosted its stake in shares of Tencent Music Entertainment Group by 2.6% during the 4th quarter. Mackenzie Financial Corp now owns 219,864 shares of the company’s stock worth $3,875,000 after purchasing an additional 5,496 shares during the last quarter. Finally, Voloridge Investment Management LLC boosted its stake in shares of Tencent Music Entertainment Group by 1,439.1% during the 4th quarter. Voloridge Investment Management LLC now owns 513,021 shares of the company’s stock worth $8,993,000 after purchasing an additional 479,689 shares during the last quarter. Institutional investors and hedge funds own 24.32% of the company’s stock.

Tencent Music Entertainment Group Company Profile

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.