Union Bancaire Privee UBP SA Takes Position in Tencent Music Entertainment Group (NYSE:TME)

Union Bancaire Privee UBP SA bought a new position in shares of Tencent Music Entertainment Group (NYSE:TME) in the fourth quarter, HoldingsChannel.com reports. The institutional investor bought 33,650 shares of the company’s stock, valued at approximately $370,000.

Other hedge funds have also recently bought and sold shares of the company. Bank of Montreal Can increased its position in shares of Tencent Music Entertainment Group by 86.0% in the third quarter. Bank of Montreal Can now owns 181,991 shares of the company’s stock worth $2,235,000 after acquiring an additional 84,161 shares in the last quarter. BNP Paribas Financial Markets increased its holdings in Tencent Music Entertainment Group by 33.6% in the 3rd quarter. BNP Paribas Financial Markets now owns 1,911,048 shares of the company’s stock valued at $23,028,000 after purchasing an additional 480,504 shares in the last quarter. Fiera Capital Corp raised its position in Tencent Music Entertainment Group by 21.2% in the third quarter. Fiera Capital Corp now owns 434,353 shares of the company’s stock valued at $5,234,000 after purchasing an additional 75,991 shares during the period. Principal Financial Group Inc. lifted its stake in shares of Tencent Music Entertainment Group by 4.0% during the third quarter. Principal Financial Group Inc. now owns 5,478,297 shares of the company’s stock worth $66,013,000 after purchasing an additional 211,873 shares in the last quarter. Finally, US Bancorp DE lifted its stake in shares of Tencent Music Entertainment Group by 278.6% during the third quarter. US Bancorp DE now owns 101,174 shares of the company’s stock worth $1,219,000 after purchasing an additional 74,452 shares in the last quarter. Hedge funds and other institutional investors own 24.32% of the company’s stock.

Tencent Music Entertainment Group Trading Down 0.3 %

NYSE TME opened at $11.77 on Wednesday. The company’s fifty day moving average price is $11.48 and its two-hundred day moving average price is $11.74. The company has a market capitalization of $20.19 billion, a price-to-earnings ratio of 21.79, a price-to-earnings-growth ratio of 0.67 and a beta of 0.69. Tencent Music Entertainment Group has a 12 month low of $8.88 and a 12 month high of $15.77. The company has a debt-to-equity ratio of 0.09, a current ratio of 2.34 and a quick ratio of 2.34.

Analysts Set New Price Targets

TME has been the topic of several analyst reports. Morgan Stanley upgraded Tencent Music Entertainment Group from an “equal weight” rating to an “overweight” rating and set a $13.00 target price on the stock in a report on Tuesday, January 21st. Sanford C. Bernstein started coverage on shares of Tencent Music Entertainment Group in a research note on Monday, November 4th. They set an “outperform” rating and a $14.00 price objective on the stock. Finally, Barclays started coverage on shares of Tencent Music Entertainment Group in a research note on Wednesday, November 6th. They issued an “overweight” rating and a $16.00 target price for the company. Three analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. According to data from MarketBeat, Tencent Music Entertainment Group currently has an average rating of “Moderate Buy” and an average price target of $13.54.

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.