Hel Ved Capital Management Ltd Acquires New Holdings in Tencent Music Entertainment Group Sponsored ADR $TME

Hel Ved Capital Management Ltd bought a new position in Tencent Music Entertainment Group Sponsored ADR (NYSE:TME) in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 72,200 shares of the company’s stock, valued at approximately $1,685,000.

Other institutional investors have also modified their holdings of the company. Royal Bank of Canada raised its stake in shares of Tencent Music Entertainment Group by 9.0% during the 1st quarter. Royal Bank of Canada now owns 144,475 shares of the company’s stock worth $2,082,000 after acquiring an additional 11,979 shares in the last quarter. AQR Capital Management LLC increased its position in shares of Tencent Music Entertainment Group by 107.5% during the first quarter. AQR Capital Management LLC now owns 85,450 shares of the company’s stock worth $1,231,000 after purchasing an additional 44,265 shares in the last quarter. Jones Financial Companies Lllp acquired a new position in shares of Tencent Music Entertainment Group during the first quarter worth $985,000. Acadian Asset Management LLC lifted its holdings in shares of Tencent Music Entertainment Group by 385,900.0% during the 1st quarter. Acadian Asset Management LLC now owns 50,180 shares of the company’s stock valued at $722,000 after purchasing an additional 50,167 shares during the last quarter. Finally, Bank of Montreal Can acquired a new stake in shares of Tencent Music Entertainment Group in the 2nd quarter worth $1,908,000. 24.32% of the stock is currently owned by institutional investors.

Tencent Music Entertainment Group Stock Performance

Tencent Music Entertainment Group stock opened at $13.62 on Friday. The business’s 50-day simple moving average is $16.23 and its two-hundred day simple moving average is $19.88. 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 fifty-two week low of $11.71 and a fifty-two week high of $26.70.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on the company. Weiss Ratings reiterated a “hold (c+)” rating on shares of Tencent Music Entertainment Group in a research note on Monday, December 29th. Benchmark lowered their price target on Tencent Music Entertainment Group from $28.00 to $25.00 and set a “buy” rating for the company in a report on Thursday, November 13th. Morgan Stanley dropped their price target on Tencent Music Entertainment Group from $27.50 to $25.00 and set an “overweight” rating on the stock in a research note on Monday, December 22nd. Barclays increased their price objective on shares of Tencent Music Entertainment Group from $27.00 to $28.00 and gave the company an “overweight” rating in a research report on Wednesday, November 12th. Finally, Wall Street Zen cut shares of Tencent Music Entertainment Group from a “buy” rating to a “hold” rating in a research note on Saturday, November 8th. One analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and three have assigned a Hold rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $25.79.

Tencent Music Entertainment Group Profile

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.