Signaturefd LLC Increases Position in Tencent Music Entertainment Group (NYSE:TME)

Signaturefd LLC raised its position in shares of Tencent Music Entertainment Group (NYSE:TME) by 5.1% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 33,465 shares of the company’s stock after buying an additional 1,628 shares during the period. Signaturefd LLC’s holdings in Tencent Music Entertainment Group were worth $302,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also modified their holdings of the company. Janiczek Wealth Management LLC increased its position in shares of Tencent Music Entertainment Group by 8.6% during the fourth quarter. Janiczek Wealth Management LLC now owns 16,559 shares of the company’s stock worth $149,000 after acquiring an additional 1,311 shares during the period. Cigna Investments Inc. New increased its holdings in Tencent Music Entertainment Group by 13.6% during the 4th quarter. Cigna Investments Inc. New now owns 15,186 shares of the company’s stock worth $137,000 after purchasing an additional 1,817 shares during the period. Lindbrook Capital LLC boosted its stake in shares of Tencent Music Entertainment Group by 40.9% in the 4th quarter. Lindbrook Capital LLC now owns 7,036 shares of the company’s stock valued at $63,000 after buying an additional 2,044 shares during the period. Advisor Partners II LLC boosted its stake in shares of Tencent Music Entertainment Group by 19.5% in the 3rd quarter. Advisor Partners II LLC now owns 13,529 shares of the company’s stock valued at $86,000 after buying an additional 2,207 shares during the period. Finally, Yousif Capital Management LLC grew its position in shares of Tencent Music Entertainment Group by 15.0% during the third quarter. Yousif Capital Management LLC now owns 26,405 shares of the company’s stock worth $168,000 after buying an additional 3,450 shares in the last quarter. 24.32% of the stock is owned by institutional investors and hedge funds.

Tencent Music Entertainment Group Stock Performance

Shares of TME stock opened at $12.88 on Friday. The company has a current ratio of 2.49, a quick ratio of 2.49 and a debt-to-equity ratio of 0.10. The stock has a 50 day simple moving average of $11.01 and a 200-day simple moving average of $9.30. The company has a market cap of $22.10 billion, a price-to-earnings ratio of 29.27, a price-to-earnings-growth ratio of 0.78 and a beta of 0.81. Tencent Music Entertainment Group has a 12-month low of $5.70 and a 12-month high of $12.93.

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

Wall Street Analyst Weigh In

TME has been the subject of several analyst reports. Redburn Atlantic initiated coverage on shares of Tencent Music Entertainment Group in a report on Monday, February 5th. They set a “buy” rating and a $12.00 price target for the company. Morgan Stanley increased their target price on Tencent Music Entertainment Group from $11.00 to $13.50 and gave the company an “overweight” rating in a report on Wednesday, March 20th. UBS Group upgraded shares of Tencent Music Entertainment Group from a “neutral” rating to a “buy” rating and set a $10.50 price objective for the company in a research report on Wednesday, January 24th. The Goldman Sachs Group raised Tencent Music Entertainment Group from a “neutral” rating to a “buy” rating and set a $14.00 target price for the company in a research report on Wednesday, March 20th. Finally, Benchmark raised their price objective on shares of Tencent Music Entertainment Group from $9.00 to $14.00 and gave the stock a “buy” rating in a research report on Wednesday, March 20th. Two research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $11.63.

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