Tencent Music Entertainment Group (NYSE:TME) Shares Sold by Signaturefd LLC

Signaturefd LLC lessened its stake in shares of Tencent Music Entertainment Group (NYSE:TME) by 4.1% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 32,841 shares of the company’s stock after selling 1,407 shares during the quarter. Signaturefd LLC’s holdings in Tencent Music Entertainment Group were worth $396,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in the stock. Ninety One UK Ltd acquired a new position in Tencent Music Entertainment Group in the second quarter worth approximately $122,775,000. Acadian Asset Management LLC grew its position in Tencent Music Entertainment Group by 18,902.2% in the second quarter. Acadian Asset Management LLC now owns 4,468,752 shares of the company’s stock worth $62,765,000 after buying an additional 4,445,235 shares during the last quarter. Bamco Inc. NY acquired a new position in Tencent Music Entertainment Group in the first quarter worth approximately $40,857,000. Principal Financial Group Inc. grew its position in Tencent Music Entertainment Group by 116.5% in the second quarter. Principal Financial Group Inc. now owns 5,266,424 shares of the company’s stock worth $73,993,000 after buying an additional 2,834,212 shares during the last quarter. Finally, Ninety One North America Inc. acquired a new position in Tencent Music Entertainment Group in the second quarter worth approximately $34,757,000. Institutional investors and hedge funds own 24.32% of the company’s stock.

Tencent Music Entertainment Group Stock Up 0.5 %

Tencent Music Entertainment Group stock opened at $11.49 on Friday. The firm has a market cap of $19.72 billion, a price-to-earnings ratio of 24.98, a P/E/G ratio of 0.87 and a beta of 0.66. The company has a debt-to-equity ratio of 0.09, a current ratio of 2.34 and a quick ratio of 2.34. Tencent Music Entertainment Group has a fifty-two week low of $6.76 and a fifty-two week high of $15.77. The firm has a fifty day moving average price of $11.16 and a two-hundred day moving average price of $12.86.

Tencent Music Entertainment Group (NYSE:TME) last posted its quarterly earnings data on Tuesday, August 13th. The company reported $0.15 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.16 by ($0.01). Tencent Music Entertainment Group had a return on equity of 10.11% and a net margin of 20.35%. The company had revenue of $985.00 million for the quarter, compared to the consensus estimate of $1 billion. As a group, analysts forecast that Tencent Music Entertainment Group will post 0.63 earnings per share for the current year.

Wall Street Analysts Forecast Growth

TME has been the topic of several recent research reports. Benchmark decreased their price target on shares of Tencent Music Entertainment Group from $19.00 to $15.00 and set a “buy” rating on the stock in a research report on Wednesday, August 14th. Bank of America lowered their price objective on shares of Tencent Music Entertainment Group from $18.00 to $15.00 and set a “buy” rating on the stock in a research report on Wednesday, August 14th. Mizuho lowered their price objective on shares of Tencent Music Entertainment Group from $17.00 to $16.00 and set an “outperform” rating on the stock in a research report on Wednesday, August 14th. Daiwa America cut shares of Tencent Music Entertainment Group from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, August 13th. Finally, Morgan Stanley cut shares of Tencent Music Entertainment Group from an “overweight” rating to an “equal weight” rating and lowered their price objective for the stock from $15.00 to $13.00 in a research report on Wednesday, September 25th. Four equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat, Tencent Music Entertainment Group currently has a consensus rating of “Moderate Buy” and an average price target of $12.67.

Tencent Music Entertainment Group Company 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.