Beck Bode LLC Sells 3,773 Shares of Tencent Music Entertainment Group Sponsored ADR $TME

Beck Bode LLC lessened its holdings in Tencent Music Entertainment Group Sponsored ADR (NYSE:TME) by 17.9% in the first quarter, according to its most recent filing with the SEC. The institutional investor owned 17,280 shares of the company’s stock after selling 3,773 shares during the period. Beck Bode LLC’s holdings in Tencent Music Entertainment Group were worth $249,000 as of its most recent SEC filing.

A number of other institutional investors have also bought and sold shares of the business. BNP Paribas increased its stake in Tencent Music Entertainment Group by 2.0% in the 4th quarter. BNP Paribas now owns 58,066 shares of the company’s stock worth $659,000 after buying an additional 1,131 shares in the last quarter. Ballentine Partners LLC increased its stake in Tencent Music Entertainment Group by 10.6% in the 1st quarter. Ballentine Partners LLC now owns 21,054 shares of the company’s stock worth $303,000 after buying an additional 2,019 shares in the last quarter. SVB Wealth LLC purchased a new stake in Tencent Music Entertainment Group in the 1st quarter worth $34,000. Asset Management One Co. Ltd. increased its stake in Tencent Music Entertainment Group by 0.5% in the 1st quarter. Asset Management One Co. Ltd. now owns 504,632 shares of the company’s stock worth $7,272,000 after buying an additional 2,549 shares in the last quarter. Finally, Compound Planning Inc. increased its stake in Tencent Music Entertainment Group by 12.3% in the 1st quarter. Compound Planning Inc. now owns 28,500 shares of the company’s stock worth $411,000 after buying an additional 3,127 shares in the last quarter. Hedge funds and other institutional investors own 24.32% of the company’s stock.

Tencent Music Entertainment Group Stock Down 1.5%

Shares of NYSE:TME opened at $25.83 on Thursday. Tencent Music Entertainment Group Sponsored ADR has a 52 week low of $9.41 and a 52 week high of $26.54. The company has a debt-to-equity ratio of 0.04, a quick ratio of 1.87 and a current ratio of 1.87. The company’s fifty day moving average is $21.72 and its 200-day moving average is $16.99. The company has a market capitalization of $44.33 billion, a PE ratio of 28.39 and a beta of 0.50.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on the company. Morgan Stanley reiterated an “overweight” rating on shares of Tencent Music Entertainment Group in a research note on Tuesday, May 13th. Zacks Research upgraded Tencent Music Entertainment Group from a “hold” rating to a “strong-buy” rating in a research report on Tuesday. Benchmark raised their price objective on Tencent Music Entertainment Group from $19.00 to $28.00 and gave the company a “buy” rating in a research report on Wednesday, August 13th. Daiwa Capital Markets upgraded Tencent Music Entertainment Group from a “neutral” rating to an “outperform” rating in a research report on Tuesday, August 12th. Finally, Macquarie set a $29.80 price objective on Tencent Music Entertainment Group and gave the company an “outperform” rating in a research report on Tuesday, August 12th. Two equities research analysts have rated the stock with a Strong Buy rating and nine have given a Buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus target price of $24.47.

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.