Tencent Music Entertainment Group Sponsored ADR $TME Stake Lessened by Aubrey Capital Management Ltd

Aubrey Capital Management Ltd decreased its position in shares of Tencent Music Entertainment Group Sponsored ADR (NYSE:TME) by 98.0% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 10,000 shares of the company’s stock after selling 498,700 shares during the period. Aubrey Capital Management Ltd’s holdings in Tencent Music Entertainment Group were worth $233,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Corient Private Wealth LLC raised its stake in shares of Tencent Music Entertainment Group by 1.6% in the 2nd quarter. Corient Private Wealth LLC now owns 32,213 shares of the company’s stock worth $628,000 after buying an additional 498 shares in the last quarter. Northwestern Mutual Wealth Management Co. grew its holdings in Tencent Music Entertainment Group by 5.0% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 13,553 shares of the company’s stock worth $264,000 after acquiring an additional 651 shares during the period. PDS Planning Inc grew its holdings in Tencent Music Entertainment Group by 5.6% during the second quarter. PDS Planning Inc now owns 12,561 shares of the company’s stock worth $245,000 after acquiring an additional 665 shares during the period. DekaBank Deutsche Girozentrale raised its position in Tencent Music Entertainment Group by 0.8% in the second quarter. DekaBank Deutsche Girozentrale now owns 101,362 shares of the company’s stock worth $1,975,000 after acquiring an additional 842 shares in the last quarter. Finally, PNC Financial Services Group Inc. lifted its holdings in Tencent Music Entertainment Group by 11.0% in the 2nd quarter. PNC Financial Services Group Inc. now owns 12,799 shares of the company’s stock valued at $249,000 after acquiring an additional 1,269 shares during the last quarter. 24.32% of the stock is owned by institutional investors.

Tencent Music Entertainment Group Stock Down 0.8%

Shares of Tencent Music Entertainment Group stock opened at $16.08 on Thursday. Tencent Music Entertainment Group Sponsored ADR has a 1 year low of $10.91 and a 1 year high of $26.70. The company has a market cap of $27.82 billion, a P/E ratio of 16.75, a P/E/G ratio of 1.00 and a beta of 0.45. The company has a current ratio of 2.09, a quick ratio of 2.08 and a debt-to-equity ratio of 0.04. The stock has a 50-day moving average price of $17.86 and a 200 day moving average price of $21.27.

Analysts Set New Price Targets

TME has been the topic of several recent research reports. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Tencent Music Entertainment Group in a research note on Monday, December 29th. Zacks Research lowered shares of Tencent Music Entertainment Group from a “strong-buy” rating to a “hold” rating in a research report on Monday, October 13th. Morgan Stanley cut their price objective on Tencent Music Entertainment Group from $27.50 to $25.00 and set an “overweight” rating for the company in a research report on Monday, December 22nd. Benchmark reduced their price objective on Tencent Music Entertainment Group from $28.00 to $25.00 and set a “buy” rating for the company in a research note on Thursday, November 13th. Finally, Barclays boosted their target price on 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. One investment analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $25.79.

About Tencent Music Entertainment Group

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.