American Century Companies Inc. Has $19.67 Million Stock Holdings in Tencent Music Entertainment Group Sponsored ADR $TME

American Century Companies Inc. grew its stake in shares of Tencent Music Entertainment Group Sponsored ADR (NYSE:TME) by 26.5% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 1,009,127 shares of the company’s stock after purchasing an additional 211,555 shares during the period. American Century Companies Inc. owned approximately 0.06% of Tencent Music Entertainment Group worth $19,668,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Nuveen LLC bought a new stake in Tencent Music Entertainment Group in the 1st quarter valued at about $85,498,000. JPMorgan Chase & Co. increased its holdings in shares of Tencent Music Entertainment Group by 26.4% during the second quarter. JPMorgan Chase & Co. now owns 19,501,541 shares of the company’s stock valued at $380,085,000 after acquiring an additional 4,071,323 shares in the last quarter. Robeco Institutional Asset Management B.V. raised its position in shares of Tencent Music Entertainment Group by 1,847.5% during the second quarter. Robeco Institutional Asset Management B.V. now owns 1,935,048 shares of the company’s stock worth $37,714,000 after purchasing an additional 1,835,687 shares during the period. Wellington Management Group LLP lifted its holdings in shares of Tencent Music Entertainment Group by 419.7% in the 1st quarter. Wellington Management Group LLP now owns 1,948,415 shares of the company’s stock worth $28,077,000 after purchasing an additional 1,573,531 shares in the last quarter. Finally, Acadian Asset Management LLC grew its position in Tencent Music Entertainment Group by 2,928.0% in the 2nd quarter. Acadian Asset Management LLC now owns 1,519,458 shares of the company’s stock valued at $29,601,000 after purchasing an additional 1,469,278 shares during the period. Institutional investors own 24.32% of the company’s stock.

Tencent Music Entertainment Group Stock Performance

Shares of TME opened at $18.47 on Wednesday. The stock has a 50 day moving average of $21.50 and a 200 day moving average of $21.44. The company has a current ratio of 2.09, a quick ratio of 2.08 and a debt-to-equity ratio of 0.04. Tencent Music Entertainment Group Sponsored ADR has a 12 month low of $10.26 and a 12 month high of $26.70. The company has a market capitalization of $31.69 billion, a price-to-earnings ratio of 19.23, a PEG ratio of 1.32 and a beta of 0.47.

Analysts Set New Price Targets

Several research analysts have weighed in on TME shares. Sanford C. Bernstein set a $27.50 price objective on shares of Tencent Music Entertainment Group and gave the stock an “outperform” rating in a report on Wednesday, August 13th. Barclays upped their target price on shares of Tencent Music Entertainment Group from $27.00 to $28.00 and gave the stock an “overweight” rating in a report on Wednesday, November 12th. Daiwa Capital Markets upgraded Tencent Music Entertainment Group from a “neutral” rating to an “outperform” rating in a research note on Tuesday, August 12th. Citigroup reissued a “buy” rating and set a $29.00 price objective (up from $23.00) on shares of Tencent Music Entertainment Group in a report on Tuesday, August 12th. Finally, Benchmark dropped their target price on Tencent Music Entertainment Group from $28.00 to $25.00 and set a “buy” rating on the stock in a report on Thursday, November 13th. One analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat.com, Tencent Music Entertainment Group currently has a consensus rating of “Moderate Buy” and an average price target of $24.29.

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; 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.