Tencent Music Entertainment Group Sponsored ADR (NYSE:TME) Given Average Recommendation of “Moderate Buy” by Brokerages

Tencent Music Entertainment Group Sponsored ADR (NYSE:TME) has earned a consensus rating of “Moderate Buy” from the thirteen analysts that are covering the firm, Marketbeat Ratings reports. Three equities research analysts have rated the stock with a hold recommendation, nine have assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average 1-year price objective among brokerages that have covered the stock in the last year is $25.7875.

A number of equities research analysts have recently issued reports on TME shares. Wall Street Zen lowered shares of Tencent Music Entertainment Group from a “buy” rating to a “hold” rating in a report on Saturday, November 8th. Barclays boosted their price target on shares of Tencent Music Entertainment Group from $27.00 to $28.00 and gave the stock an “overweight” rating in a research report on Wednesday, November 12th. Zacks Research downgraded shares of Tencent Music Entertainment Group from a “strong-buy” rating to a “hold” rating in a report on Monday, October 13th. Morgan Stanley lowered their target price on Tencent Music Entertainment Group from $27.50 to $25.00 and set an “overweight” rating on the stock in a report on Monday, December 22nd. Finally, Weiss Ratings restated a “hold (c+)” rating on shares of Tencent Music Entertainment Group in a research report on Monday, December 29th.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of TME. Campbell & CO Investment Adviser LLC purchased a new stake in shares of Tencent Music Entertainment Group in the 3rd quarter valued at approximately $4,257,000. Acadian Asset Management LLC raised its position in shares of 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 valued at $29,601,000 after buying an additional 1,469,278 shares during the period. Aviva PLC lifted its holdings in Tencent Music Entertainment Group by 2.4% in the second quarter. Aviva PLC now owns 542,606 shares of the company’s stock valued at $10,575,000 after acquiring an additional 12,489 shares during the last quarter. Robeco Institutional Asset Management B.V. increased its stake in Tencent Music Entertainment Group by 174.9% during the third quarter. Robeco Institutional Asset Management B.V. now owns 5,319,631 shares of the company’s stock worth $124,160,000 after acquiring an additional 3,384,583 shares during the last quarter. Finally, Calamos Wealth Management LLC acquired a new stake in Tencent Music Entertainment Group during the third quarter worth $2,546,000. Hedge funds and other institutional investors own 24.32% of the company’s stock.

Tencent Music Entertainment Group Stock Up 4.8%

Shares of TME opened at $16.81 on Friday. The stock has a 50 day moving average price of $17.77 and a 200 day moving average price of $21.22. Tencent Music Entertainment Group has a one year low of $11.08 and a one year high of $26.70. The company has a debt-to-equity ratio of 0.04, a quick ratio of 2.08 and a current ratio of 2.09. The stock has a market capitalization of $27.53 billion, a price-to-earnings ratio of 17.51, a PEG ratio of 1.01 and a beta of 0.45.

Tencent Music Entertainment Group Company Profile

Tencent Music Entertainment Group (NYSE: TME) is a China-based digital music and audio entertainment platform that operates a portfolio of leading music streaming and social entertainment services. Its core consumer-facing products include streaming apps, online karaoke (KTV) services and live music and entertainment broadcasts. The company monetizes its content through a mix of subscriptions, digital music sales, in-app purchases, virtual gifting, advertising and licensing arrangements with rights holders.

The company traces its roots to the consolidation of Tencent’s music assets and was established in the mid-2010s to unify several prominent music properties under a single operating entity.