Nomura Asset Management Co. Ltd. Has $8.18 Million Holdings in Tencent Music Entertainment Group Sponsored ADR $TME

Nomura Asset Management Co. Ltd. increased its holdings in Tencent Music Entertainment Group Sponsored ADR (NYSE:TME) by 178.2% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 419,780 shares of the company’s stock after purchasing an additional 268,913 shares during the quarter. Nomura Asset Management Co. Ltd.’s holdings in Tencent Music Entertainment Group were worth $8,182,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of TME. Nuveen LLC bought a new stake in shares of Tencent Music Entertainment Group in the 1st quarter valued at about $85,498,000. JPMorgan Chase & Co. lifted its stake in shares of Tencent Music Entertainment Group by 31.1% in the first quarter. JPMorgan Chase & Co. now owns 15,430,218 shares of the company’s stock worth $222,349,000 after acquiring an additional 3,656,695 shares during the period. Robeco Institutional Asset Management B.V. boosted its holdings in Tencent Music Entertainment Group by 1,847.5% in the second quarter. Robeco Institutional Asset Management B.V. now owns 1,935,048 shares of the company’s stock valued at $37,714,000 after acquiring an additional 1,835,687 shares during the last quarter. Wellington Management Group LLP increased its position in Tencent Music Entertainment Group by 419.7% during the 1st quarter. Wellington Management Group LLP now owns 1,948,415 shares of the company’s stock valued at $28,077,000 after purchasing an additional 1,573,531 shares during the period. Finally, Acadian Asset Management LLC raised its holdings in Tencent Music Entertainment Group by 2,928.0% during the 2nd quarter. Acadian Asset Management LLC now owns 1,519,458 shares of the company’s stock worth $29,601,000 after purchasing an additional 1,469,278 shares during the last quarter. 24.32% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of equities research analysts have recently commented on TME shares. Benchmark reduced their price objective on shares of Tencent Music Entertainment Group from $28.00 to $25.00 and set a “buy” rating on the stock in a research note on Thursday, November 13th. Bank of America began coverage on shares of Tencent Music Entertainment Group in a research report on Tuesday, October 28th. They set a “neutral” rating and a $25.00 price target on the stock. Sanford C. Bernstein set a $27.50 price objective on Tencent Music Entertainment Group and gave the company an “outperform” rating in a research note on Wednesday, August 13th. Weiss Ratings restated a “buy (b-)” rating on shares of Tencent Music Entertainment Group in a research report on Wednesday, October 8th. Finally, Citigroup reiterated a “buy” rating and issued a $29.00 target price (up from $23.00) on shares of Tencent Music Entertainment Group in a report on Tuesday, August 12th. One investment analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $24.29.

Tencent Music Entertainment Group Stock Down 5.6%

TME stock opened at $17.68 on Friday. The firm has a market capitalization of $30.33 billion, a PE ratio of 18.41, a P/E/G ratio of 1.12 and a beta of 0.51. The company has a quick ratio of 2.08, a current ratio of 2.09 and a debt-to-equity ratio of 0.04. Tencent Music Entertainment Group Sponsored ADR has a twelve month low of $10.26 and a twelve month high of $26.70. The stock’s 50 day moving average is $22.58 and its 200-day moving average is $21.17.

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.