C WorldWide Group Holding A S Has $17.02 Million Holdings in Tencent Music Entertainment Group (NYSE:TME)

C WorldWide Group Holding A S lessened its position in shares of Tencent Music Entertainment Group (NYSE:TME) by 1.5% in the fourth quarter, according to its most recent filing with the SEC. The firm owned 1,499,891 shares of the company’s stock after selling 22,360 shares during the quarter. C WorldWide Group Holding A S’s holdings in Tencent Music Entertainment Group were worth $17,024,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the company. Intech Investment Management LLC grew its position in shares of Tencent Music Entertainment Group by 9.1% during the 3rd quarter. Intech Investment Management LLC now owns 19,850 shares of the company’s stock worth $239,000 after buying an additional 1,664 shares during the period. Diversify Wealth Management LLC grew its position in shares of Tencent Music Entertainment Group by 3.9% during the 3rd quarter. Diversify Wealth Management LLC now owns 49,146 shares of the company’s stock worth $570,000 after buying an additional 1,862 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd grew its position in shares of Tencent Music Entertainment Group by 3.9% during the 4th quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 51,636 shares of the company’s stock worth $586,000 after buying an additional 1,923 shares during the period. Thrivent Financial for Lutherans grew its position in shares of Tencent Music Entertainment Group by 31.7% during the 3rd quarter. Thrivent Financial for Lutherans now owns 15,550 shares of the company’s stock worth $187,000 after buying an additional 3,746 shares during the period. Finally, Avior Wealth Management LLC grew its position in shares of Tencent Music Entertainment Group by 253.8% during the 3rd quarter. Avior Wealth Management LLC now owns 5,675 shares of the company’s stock worth $68,000 after buying an additional 4,071 shares during the period. Institutional investors and hedge funds own 24.32% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on the stock. Barclays assumed coverage on shares of Tencent Music Entertainment Group in a research report on Wednesday, November 6th. They set an “overweight” rating and a $16.00 price objective for the company. Morgan Stanley raised shares of Tencent Music Entertainment Group from an “equal weight” rating to an “overweight” rating and set a $13.00 price target for the company in a research report on Tuesday, January 21st. Finally, Sanford C. Bernstein initiated coverage on shares of Tencent Music Entertainment Group in a research report on Monday, November 4th. They issued an “outperform” rating and a $14.00 price target for the company. Three investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to MarketBeat.com, Tencent Music Entertainment Group currently has a consensus rating of “Moderate Buy” and a consensus price target of $14.04.

Tencent Music Entertainment Group Price Performance

TME opened at $14.44 on Monday. The company has a debt-to-equity ratio of 0.09, a current ratio of 2.34 and a quick ratio of 2.34. The company has a market capitalization of $24.79 billion, a price-to-earnings ratio of 26.75, a P/E/G ratio of 0.77 and a beta of 0.70. The firm’s fifty day moving average price is $11.76 and its two-hundred day moving average price is $11.53. Tencent Music Entertainment Group has a 1 year low of $9.15 and a 1 year high of $15.77.

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.