Skandinaviska Enskilda Banken AB publ Purchases 12,300 Shares of Tencent Music Entertainment Group (NYSE:TME)

Skandinaviska Enskilda Banken AB publ grew its position in Tencent Music Entertainment Group (NYSE:TME) by 8.8% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 152,474 shares of the company’s stock after buying an additional 12,300 shares during the period. Skandinaviska Enskilda Banken AB publ’s holdings in Tencent Music Entertainment Group were worth $1,787,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in the company. PNC Financial Services Group Inc. raised its stake in Tencent Music Entertainment Group by 10.9% during the 4th quarter. PNC Financial Services Group Inc. now owns 11,138 shares of the company’s stock valued at $126,000 after buying an additional 1,094 shares during the last quarter. Raymond James Financial Inc. bought a new position in Tencent Music Entertainment Group in the fourth quarter worth approximately $731,000. DJE Kapital AG purchased a new position in shares of Tencent Music Entertainment Group during the 4th quarter worth $1,671,000. SBI Securities Co. Ltd. bought a new stake in shares of Tencent Music Entertainment Group during the 4th quarter valued at $110,000. Finally, Cantillon Capital Management LLC increased its stake in shares of Tencent Music Entertainment Group by 18.3% in the 4th quarter. Cantillon Capital Management LLC now owns 21,840,815 shares of the company’s stock worth $247,893,000 after purchasing an additional 3,384,230 shares in the last quarter. Hedge funds and other institutional investors own 24.32% of the company’s stock.

Analyst Ratings Changes

Separately, 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 research report on Tuesday, January 21st. Three equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat.com, Tencent Music Entertainment Group currently has an average rating of “Moderate Buy” and a consensus target price of $14.04.

Tencent Music Entertainment Group Trading Up 4.4 %

Shares of NYSE TME opened at $13.11 on Tuesday. The business’s 50 day moving average is $12.13 and its two-hundred day moving average is $11.71. Tencent Music Entertainment Group has a 1-year low of $9.41 and a 1-year high of $15.77. The stock has a market capitalization of $22.49 billion, a P/E ratio of 24.27, a PEG ratio of 0.77 and a beta of 0.70. The company has a debt-to-equity ratio of 0.09, a current ratio of 2.34 and a quick ratio of 2.34.

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.