Tencent Music Entertainment Group Sponsored ADR $TME Shares Acquired by UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC

UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its holdings in Tencent Music Entertainment Group Sponsored ADR (NYSE:TME) by 15.2% in the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 5,062,619 shares of the company’s stock after buying an additional 666,674 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC owned about 0.30% of Tencent Music Entertainment Group worth $72,952,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also modified their holdings of the business. Ballentine Partners LLC boosted its holdings in shares of Tencent Music Entertainment Group by 10.6% in the 1st quarter. Ballentine Partners LLC now owns 21,054 shares of the company’s stock valued at $303,000 after buying an additional 2,019 shares during the period. SVB Wealth LLC acquired a new position in shares of Tencent Music Entertainment Group in the 1st quarter valued at about $34,000. Asset Management One Co. Ltd. boosted its holdings in shares of Tencent Music Entertainment Group by 0.5% in the 1st quarter. Asset Management One Co. Ltd. now owns 504,632 shares of the company’s stock valued at $7,272,000 after buying an additional 2,549 shares during the period. Compound Planning Inc. boosted its holdings in shares of Tencent Music Entertainment Group by 12.3% in the 1st quarter. Compound Planning Inc. now owns 28,500 shares of the company’s stock valued at $411,000 after buying an additional 3,127 shares during the period. Finally, Vontobel Holding Ltd. boosted its stake in Tencent Music Entertainment Group by 10.2% during the 1st quarter. Vontobel Holding Ltd. now owns 36,441 shares of the company’s stock valued at $525,000 after purchasing an additional 3,364 shares during the period. 24.32% of the stock is owned by institutional investors and hedge funds.

Tencent Music Entertainment Group Stock Down 2.5%

TME stock opened at $24.98 on Friday. Tencent Music Entertainment Group Sponsored ADR has a 52 week low of $9.41 and a 52 week high of $26.54. The company has a market capitalization of $42.87 billion, a price-to-earnings ratio of 27.45 and a beta of 0.54. The firm’s 50-day moving average is $23.14 and its two-hundred day moving average is $18.00. The company has a current ratio of 1.87, a quick ratio of 1.87 and a debt-to-equity ratio of 0.04.

Wall Street Analysts Forecast Growth

TME has been the subject of a number of analyst reports. Citigroup reissued a “buy” rating and set a $29.00 target price (up from $23.00) on shares of Tencent Music Entertainment Group in a research note on Tuesday, August 12th. Wall Street Zen raised shares of Tencent Music Entertainment Group from a “hold” rating to a “buy” rating in a research note on Friday, August 22nd. Daiwa Capital Markets raised shares of Tencent Music Entertainment Group from a “neutral” rating to an “outperform” rating in a research note on Tuesday, August 12th. Macquarie set a $29.80 target price on shares of Tencent Music Entertainment Group and gave the company an “outperform” rating in a research note on Tuesday, August 12th. Finally, Benchmark boosted their target price on shares of Tencent Music Entertainment Group from $19.00 to $28.00 and gave the company a “buy” rating in a research note on Wednesday, August 13th. Two equities research analysts have rated the stock with a Strong Buy rating and nine have issued a Buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Buy” and a consensus target price of $24.47.

About Tencent Music Entertainment Group

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.