B. Metzler seel. Sohn & Co. Holding AG Makes New $2.27 Million Investment in Tencent Music Entertainment Group (NYSE:TME)

B. Metzler seel. Sohn & Co. Holding AG purchased a new stake in Tencent Music Entertainment Group (NYSE:TME) during the third quarter, according to its most recent filing with the SEC. The firm purchased 188,376 shares of the company’s stock, valued at approximately $2,270,000.

Other large investors have also recently made changes to their positions in the company. Mitsubishi UFJ Trust & Banking Corp grew its stake in Tencent Music Entertainment Group by 13.1% in the first quarter. Mitsubishi UFJ Trust & Banking Corp now owns 205,075 shares of the company’s stock valued at $2,290,000 after purchasing an additional 23,827 shares during the last quarter. Vanguard Group Inc. raised its stake in shares of Tencent Music Entertainment Group by 0.3% during the 1st quarter. Vanguard Group Inc. now owns 25,057,674 shares of the company’s stock worth $280,395,000 after acquiring an additional 84,131 shares in the last quarter. Acadian Asset Management LLC lifted its position in Tencent Music Entertainment Group by 180,800.0% during the first quarter. Acadian Asset Management LLC now owns 23,517 shares of the company’s stock valued at $262,000 after acquiring an additional 23,504 shares during the last quarter. O Shaughnessy Asset Management LLC boosted its stake in Tencent Music Entertainment Group by 39.4% in the first quarter. O Shaughnessy Asset Management LLC now owns 36,868 shares of the company’s stock valued at $413,000 after acquiring an additional 10,419 shares in the last quarter. Finally, CANADA LIFE ASSURANCE Co increased its position in shares of Tencent Music Entertainment Group by 39.9% during the first quarter. CANADA LIFE ASSURANCE Co now owns 752,474 shares of the company’s stock worth $8,416,000 after purchasing an additional 214,500 shares in the last quarter. 24.32% of the stock is owned by institutional investors.

Analyst Ratings Changes

TME has been the subject of a number of research analyst reports. Daiwa Capital Markets cut Tencent Music Entertainment Group from an “outperform” rating to a “neutral” rating in a research note on Tuesday, August 13th. Morgan Stanley lowered shares of Tencent Music Entertainment Group from an “overweight” rating to an “equal weight” rating and decreased their price objective for the company from $15.00 to $13.00 in a research report on Wednesday, September 25th. Bank of America dropped their target price on shares of Tencent Music Entertainment Group from $18.00 to $15.00 and set a “buy” rating on the stock in a research report on Wednesday, August 14th. Sanford C. Bernstein assumed coverage on shares of Tencent Music Entertainment Group in a report on Monday, November 4th. They issued an “outperform” rating and a $14.00 price target for the company. Finally, Barclays assumed coverage on shares of Tencent Music Entertainment Group in a report on Wednesday, November 6th. They set an “overweight” rating and a $16.00 price objective on the stock. Four investment analysts have rated the stock with a hold rating and ten have given a buy rating to the company. Based on data from MarketBeat, Tencent Music Entertainment Group has an average rating of “Moderate Buy” and an average target price of $13.28.

Tencent Music Entertainment Group Price Performance

Shares of NYSE TME opened at $11.52 on Friday. The company has a debt-to-equity ratio of 0.09, a current ratio of 2.34 and a quick ratio of 2.34. The stock has a market capitalization of $19.77 billion, a price-to-earnings ratio of 21.33, a PEG ratio of 0.84 and a beta of 0.67. The firm’s 50 day simple moving average is $11.58 and its 200-day simple moving average is $12.76. Tencent Music Entertainment Group has a 12 month low of $7.93 and a 12 month high of $15.77.

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.