Ballentine Partners LLC cut its holdings in Tencent Music Entertainment Group (NYSE:TME – Free Report) by 8.2% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 19,035 shares of the company’s stock after selling 1,710 shares during the period. Ballentine Partners LLC’s holdings in Tencent Music Entertainment Group were worth $216,000 at the end of the most recent reporting period.
Other hedge funds have also recently made changes to their positions in the company. Cantillon Capital Management LLC increased its stake in 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 worth $222,402,000 after acquiring an additional 5,265,783 shares during the last quarter. State Street Corp increased its position in shares of Tencent Music Entertainment Group by 1.3% during the 3rd quarter. State Street Corp now owns 12,821,488 shares of the company’s stock valued at $154,499,000 after purchasing an additional 166,225 shares during the last quarter. Driehaus Capital Management LLC raised its holdings in Tencent Music Entertainment Group by 37.0% during the 2nd quarter. Driehaus Capital Management LLC now owns 7,129,342 shares of the company’s stock valued at $100,167,000 after buying an additional 1,925,124 shares during the period. The Manufacturers Life Insurance Company raised its holdings in Tencent Music Entertainment Group by 58.6% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 6,180,406 shares of the company’s stock valued at $86,835,000 after buying an additional 2,284,347 shares during the period. Finally, Allspring Global Investments Holdings LLC lifted its position in Tencent Music Entertainment Group by 14.4% in the third quarter. Allspring Global Investments Holdings LLC now owns 5,973,760 shares of the company’s stock worth $71,984,000 after buying an additional 753,383 shares during the last quarter. 24.32% of the stock is currently owned by hedge funds and other institutional investors.
Tencent Music Entertainment Group Price Performance
Shares of TME stock opened at $11.63 on Friday. Tencent Music Entertainment Group has a twelve month low of $8.71 and a twelve month high of $15.77. The company has a current ratio of 2.34, a quick ratio of 2.34 and a debt-to-equity ratio of 0.09. The stock has a fifty day simple moving average of $11.47 and a two-hundred day simple moving average of $11.81. The stock has a market capitalization of $19.95 billion, a price-to-earnings ratio of 21.53, a P/E/G ratio of 0.67 and a beta of 0.69.
Analyst Ratings Changes
View Our Latest Report on Tencent Music Entertainment Group
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.
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