Raiffeisen Bank International AG Purchases 239,000 Shares of Tencent Music Entertainment Group Sponsored ADR $TME

Raiffeisen Bank International AG increased its position in Tencent Music Entertainment Group Sponsored ADR (NYSE:TME) by 27,314.3% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 239,875 shares of the company’s stock after buying an additional 239,000 shares during the quarter. Raiffeisen Bank International AG’s holdings in Tencent Music Entertainment Group were worth $4,494,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also added to or reduced their stakes in the business. SVB Wealth LLC bought a new stake in Tencent Music Entertainment Group during the 1st quarter worth approximately $34,000. Banque Transatlantique SA acquired a new position in shares of Tencent Music Entertainment Group during the first quarter worth $46,000. Brooklyn Investment Group grew its stake in shares of Tencent Music Entertainment Group by 957.1% in the first quarter. Brooklyn Investment Group now owns 4,757 shares of the company’s stock worth $69,000 after purchasing an additional 4,307 shares during the last quarter. iA Global Asset Management Inc. bought a new stake in shares of Tencent Music Entertainment Group in the second quarter worth $131,000. Finally, Eschler Asset Management LLP acquired a new stake in Tencent Music Entertainment Group in the first quarter valued at $206,000. Institutional investors own 24.32% of the company’s stock.

Tencent Music Entertainment Group Trading Down 0.4%

NYSE TME opened at $18.86 on Tuesday. The stock has a market capitalization of $32.36 billion, a P/E ratio of 19.64, a P/E/G ratio of 1.14 and a beta of 0.51. The business has a 50 day simple moving average of $23.00 and a 200 day simple moving average of $21.18. The company has a debt-to-equity ratio of 0.04, a current ratio of 2.09 and a quick ratio of 2.08. Tencent Music Entertainment Group Sponsored ADR has a one year low of $10.26 and a one year high of $26.70.

Wall Street Analyst Weigh In

Several research analysts have commented on the company. Daiwa Capital Markets raised Tencent Music Entertainment Group from a “neutral” rating to an “outperform” rating in a report on Tuesday, August 12th. Sanford C. Bernstein set a $27.50 price objective on Tencent Music Entertainment Group and gave the stock an “outperform” rating in a research report on Wednesday, August 13th. Zacks Research cut Tencent Music Entertainment Group from a “strong-buy” rating to a “hold” rating in a report on Monday, October 13th. Benchmark decreased their target price on shares of Tencent Music Entertainment Group from $28.00 to $25.00 and set a “buy” rating for the company in a research report on Thursday, November 13th. Finally, Macquarie set a $29.80 price target on shares of Tencent Music Entertainment Group and gave the stock an “outperform” rating in a research report on Tuesday, August 12th. One research analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and two have given a Hold rating to the company’s stock. According to data from MarketBeat, Tencent Music Entertainment Group has a consensus rating of “Moderate Buy” and a consensus target price of $24.29.

Tencent Music Entertainment Group 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.