DekaBank Deutsche Girozentrale Has $854,000 Stock Position in Tencent Music Entertainment Group (NYSE:TME)

DekaBank Deutsche Girozentrale decreased its holdings in shares of Tencent Music Entertainment Group (NYSE:TME) by 7.4% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 100,193 shares of the company’s stock after selling 7,992 shares during the quarter. DekaBank Deutsche Girozentrale’s holdings in Tencent Music Entertainment Group were worth $854,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Nordea Investment Management AB increased its stake in shares of Tencent Music Entertainment Group by 25.1% during the 4th quarter. Nordea Investment Management AB now owns 1,321,517 shares of the company’s stock worth $11,735,000 after purchasing an additional 265,093 shares during the last quarter. China Universal Asset Management Co. Ltd. boosted its holdings in shares of Tencent Music Entertainment Group by 2,115.4% during the 4th quarter. China Universal Asset Management Co. Ltd. now owns 230,400 shares of the company’s stock worth $2,076,000 after buying an additional 220,000 shares during the period. Ballentine Partners LLC boosted its holdings in shares of Tencent Music Entertainment Group by 33.9% during the 4th quarter. Ballentine Partners LLC now owns 15,132 shares of the company’s stock worth $136,000 after buying an additional 3,835 shares during the period. Vontobel Holding Ltd. boosted its holdings in shares of Tencent Music Entertainment Group by 349.4% during the 3rd quarter. Vontobel Holding Ltd. now owns 48,425 shares of the company’s stock worth $309,000 after buying an additional 37,649 shares during the period. Finally, SG Americas Securities LLC boosted its holdings in shares of Tencent Music Entertainment Group by 14.3% during the 4th quarter. SG Americas Securities LLC now owns 325,588 shares of the company’s stock worth $2,934,000 after buying an additional 40,765 shares during the period. Institutional investors and hedge funds own 24.32% of the company’s stock.

Analysts Set New Price Targets

Several analysts recently issued reports on TME shares. Benchmark upped 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 report on Wednesday, March 20th. Morgan Stanley upped their price objective on shares of Tencent Music Entertainment Group from $11.00 to $13.50 and gave the stock an “overweight” rating in a report on Wednesday, March 20th. UBS Group raised 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 report on Wednesday, January 24th. Bank of America upped their price objective on shares of Tencent Music Entertainment Group from $10.50 to $12.30 and gave the stock a “buy” rating in a report on Wednesday, March 20th. Finally, HSBC upped their price objective on shares of Tencent Music Entertainment Group from $9.50 to $10.40 and gave the stock a “hold” rating in a report on Wednesday, March 20th. Two research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $11.63.

Tencent Music Entertainment Group Trading Down 4.5 %

Shares of TME stock opened at $11.37 on Monday. Tencent Music Entertainment Group has a 52-week low of $5.70 and a 52-week high of $12.00. The stock has a market cap of $19.51 billion, a price-to-earnings ratio of 25.84, a P/E/G ratio of 0.70 and a beta of 0.81. The company has a debt-to-equity ratio of 0.10, a quick ratio of 2.49 and a current ratio of 2.49. The firm has a fifty day moving average of $10.59 and a 200-day moving average of $8.95.

Tencent Music Entertainment Group (NYSE:TME) last announced its quarterly earnings data on Tuesday, March 19th. The company reported $0.13 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.12 by $0.01. Tencent Music Entertainment Group had a net margin of 17.71% and a return on equity of 9.68%. The company had revenue of $971.00 million during the quarter, compared to analysts’ expectations of $925.06 million. On average, equities research analysts forecast that Tencent Music Entertainment Group will post 0.58 earnings per share for the current fiscal year.

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.