5,352 Shares in Tencent Music Entertainment Group (NYSE:TME) Purchased by Wilmington Savings Fund Society FSB

Wilmington Savings Fund Society FSB purchased a new stake in Tencent Music Entertainment Group (NYSE:TME) in the 3rd quarter, HoldingsChannel.com reports. The fund purchased 5,352 shares of the company’s stock, valued at approximately $64,000.

A number of other hedge funds also recently modified their holdings of the company. Cantillon Capital Management LLC raised its stake in shares of Tencent Music Entertainment Group by 39.9% in the third quarter. Cantillon Capital Management LLC now owns 18,456,585 shares of the company’s stock valued at $222,402,000 after purchasing an additional 5,265,783 shares in the last quarter. Acadian Asset Management LLC raised its stake in shares of Tencent Music Entertainment Group by 18,902.2% in the 2nd quarter. Acadian Asset Management LLC now owns 4,468,752 shares of the company’s stock valued at $62,765,000 after buying an additional 4,445,235 shares in the last quarter. Mawer Investment Management Ltd. lifted its holdings in shares of Tencent Music Entertainment Group by 1,131.8% during the 3rd quarter. Mawer Investment Management Ltd. now owns 4,547,836 shares of the company’s stock worth $54,801,000 after acquiring an additional 4,178,636 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in shares of Tencent Music Entertainment Group by 287.4% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 4,845,013 shares of the company’s stock valued at $58,382,000 after acquiring an additional 3,594,383 shares in the last quarter. Finally, FMR LLC increased its stake in Tencent Music Entertainment Group by 98.8% in the third quarter. FMR LLC now owns 5,970,773 shares of the company’s stock valued at $71,948,000 after acquiring an additional 2,967,779 shares during the period. Institutional investors own 24.32% of the company’s stock.

Tencent Music Entertainment Group Stock Up 1.4 %

Shares of NYSE:TME opened at $11.95 on Friday. Tencent Music Entertainment Group has a 12 month low of $8.15 and a 12 month high of $15.77. The firm has a market cap of $20.51 billion, a P/E ratio of 22.13, a P/E/G ratio of 0.91 and a beta of 0.68. The company has a quick ratio of 2.34, a current ratio of 2.34 and a debt-to-equity ratio of 0.09. The company’s 50-day moving average price is $11.68 and its two-hundred day moving average price is $12.36.

Analysts Set New Price Targets

TME has been the topic of a number of recent research reports. Barclays began coverage on Tencent Music Entertainment Group in a report on Wednesday, November 6th. They set an “overweight” rating and a $16.00 price objective on the stock. Morgan Stanley lowered Tencent Music Entertainment Group from an “overweight” rating to an “equal weight” rating and decreased their price target for the company from $15.00 to $13.00 in a research note on Wednesday, September 25th. Finally, Sanford C. Bernstein began coverage on Tencent Music Entertainment Group in a research note on Monday, November 4th. They set an “outperform” rating and a $14.00 price objective for the company. Four equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. According to data from MarketBeat, Tencent Music Entertainment Group currently has a consensus rating of “Moderate Buy” and an average target price of $13.28.

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.