Lindbrook Capital LLC Has $63,000 Stake in Tencent Music Entertainment Group (NYSE:TME)

Lindbrook Capital LLC raised its holdings in Tencent Music Entertainment Group (NYSE:TME) by 40.9% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 7,036 shares of the company’s stock after acquiring an additional 2,044 shares during the period. Lindbrook Capital LLC’s holdings in Tencent Music Entertainment Group were worth $63,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in TME. Tobam bought a new position in shares of Tencent Music Entertainment Group during the fourth quarter worth about $36,000. Headinvest LLC bought a new position in shares of Tencent Music Entertainment Group during the third quarter worth about $39,000. GABELLI & Co INVESTMENT ADVISERS INC. bought a new position in shares of Tencent Music Entertainment Group during the third quarter worth about $64,000. PDS Planning Inc bought a new position in shares of Tencent Music Entertainment Group during the third quarter worth about $65,000. Finally, China Universal Asset Management Co. Ltd. bought a new position in shares of Tencent Music Entertainment Group during the third quarter worth about $66,000. 24.32% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

TME has been the subject of a number of research reports. The Goldman Sachs Group upgraded Tencent Music Entertainment Group from a “neutral” rating to a “buy” rating and set a $14.00 price objective for the company in a report on Wednesday, March 20th. HSBC raised their price target on Tencent Music Entertainment Group from $9.50 to $10.40 and gave the company a “hold” rating in a research note on Wednesday, March 20th. Mizuho raised their price target on Tencent Music Entertainment Group from $12.00 to $13.00 and gave the company a “buy” rating in a research note on Wednesday, March 20th. CLSA began coverage on Tencent Music Entertainment Group in a research note on Monday, February 5th. They issued an “outperform” rating and a $10.50 price target for the company. Finally, Benchmark raised their price target on Tencent Music Entertainment Group from $9.00 to $14.00 and gave the company a “buy” rating in a research note on Wednesday, March 20th. Two equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $11.63.

Tencent Music Entertainment Group Stock Performance

TME opened at $12.69 on Friday. The stock has a market cap of $21.78 billion, a price-to-earnings ratio of 28.84, a PEG ratio of 0.77 and a beta of 0.81. The business has a 50 day moving average of $10.95 and a 200-day moving average of $9.25. The company has a quick ratio of 2.49, a current ratio of 2.49 and a debt-to-equity ratio of 0.10. Tencent Music Entertainment Group has a 12-month low of $5.70 and a 12-month high of $12.70.

Tencent Music Entertainment Group (NYSE:TME) last released its quarterly earnings results on Tuesday, March 19th. The company reported $0.13 earnings per share for the quarter, topping the consensus estimate of $0.12 by $0.01. The business had revenue of $971.00 million during the quarter, compared to analysts’ expectations of $925.06 million. Tencent Music Entertainment Group had a return on equity of 9.67% and a net margin of 17.71%. On average, equities research analysts expect that Tencent Music Entertainment Group will post 0.58 earnings per share for the current year.

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; and WeSing, which enables users to sing from its library of karaoke songs and share their performances in audio or video formats with friends.