Union Bancaire Privee UBP SA Acquires New Holdings in Tencent Music Entertainment Group (NYSE:TME)

Union Bancaire Privee UBP SA acquired a new stake in Tencent Music Entertainment Group (NYSE:TME) during the 4th quarter, HoldingsChannel.com reports. The fund acquired 33,650 shares of the company’s stock, valued at approximately $370,000.

Several other hedge funds have also recently bought and sold shares of TME. Cantillon Capital Management LLC lifted its position in Tencent Music Entertainment Group by 39.9% in the 3rd 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 during the last quarter. Mawer Investment Management Ltd. increased its stake in 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 valued at $54,801,000 after buying an additional 4,178,636 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in 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 buying an additional 3,594,383 shares during the period. FMR LLC increased its stake in Tencent Music Entertainment Group by 98.8% during the 3rd quarter. FMR LLC now owns 5,970,773 shares of the company’s stock valued at $71,948,000 after buying an additional 2,967,779 shares during the period. Finally, Coronation Fund Managers Ltd. increased its stake in Tencent Music Entertainment Group by 84.6% during the 3rd quarter. Coronation Fund Managers Ltd. now owns 5,656,233 shares of the company’s stock valued at $68,158,000 after buying an additional 2,592,381 shares during the period. 24.32% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several equities analysts have commented on TME shares. Morgan Stanley raised shares of Tencent Music Entertainment Group from an “equal weight” rating to an “overweight” rating and set a $13.00 target price on the stock in a research note on Tuesday, January 21st. Barclays started coverage on shares of Tencent Music Entertainment Group in a research note on Wednesday, November 6th. They set an “overweight” rating and a $16.00 target price on the stock. Finally, Sanford C. Bernstein started coverage on shares of Tencent Music Entertainment Group in a research note on Monday, November 4th. They set an “outperform” rating and a $14.00 target price on the stock. Three analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $14.04.

Tencent Music Entertainment Group Stock Performance

Shares of TME opened at $12.98 on Tuesday. The firm’s 50 day moving average is $11.79 and its 200-day moving average is $11.52. The stock has a market capitalization of $22.27 billion, a P/E ratio of 24.03, a P/E/G ratio of 0.77 and a beta of 0.70. 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 12-month low of $9.15 and a 12-month high of $15.77.

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.