Diversify Advisory Services LLC Buys Shares of 14,095 Tencent Music Entertainment Group (NYSE:TME)

Diversify Advisory Services LLC purchased a new position in shares of Tencent Music Entertainment Group (NYSE:TME) during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor purchased 14,095 shares of the company’s stock, valued at approximately $166,000.

A number of other hedge funds and other institutional investors have also modified their holdings of TME. Ashton Thomas Private Wealth LLC acquired a new position in Tencent Music Entertainment Group during the second quarter worth $37,000. Tobam increased its holdings in shares of Tencent Music Entertainment Group by 37.7% during the 2nd quarter. Tobam now owns 3,498 shares of the company’s stock valued at $49,000 after acquiring an additional 957 shares during the last quarter. iA Global Asset Management Inc. increased its holdings in shares of Tencent Music Entertainment Group by 728.9% during the 1st quarter. iA Global Asset Management Inc. now owns 11,687 shares of the company’s stock valued at $131,000 after acquiring an additional 10,277 shares during the last quarter. Wrapmanager Inc. bought a new position in shares of Tencent Music Entertainment Group in the 2nd quarter valued at approximately $192,000. Finally, Beverly Hills Private Wealth LLC acquired a new stake in Tencent Music Entertainment Group in the 2nd quarter worth approximately $214,000. Institutional investors own 24.32% of the company’s stock.

Tencent Music Entertainment Group Stock Down 0.1 %

Shares of TME stock opened at $11.12 on Friday. Tencent Music Entertainment Group has a one year low of $6.76 and a one year 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. The stock has a fifty day moving average price of $11.28 and a 200 day moving average price of $12.85. The stock has a market cap of $19.07 billion, a P/E ratio of 22.23, a price-to-earnings-growth ratio of 0.84 and a beta of 0.66.

Tencent Music Entertainment Group (NYSE:TME) last released its quarterly earnings data on Tuesday, August 13th. The company reported $0.15 EPS for the quarter, missing analysts’ consensus estimates of $0.16 by ($0.01). Tencent Music Entertainment Group had a return on equity of 10.11% and a net margin of 20.35%. The business had revenue of $985.00 million for the quarter, compared to the consensus estimate of $1 billion. Analysts predict that Tencent Music Entertainment Group will post 0.63 earnings per share for the current year.

Wall Street Analysts Forecast Growth

TME has been the topic of several analyst reports. Benchmark lowered their price target on Tencent Music Entertainment Group from $19.00 to $15.00 and set a “buy” rating on the stock in a report on Wednesday, August 14th. Bank of America cut their target price on shares of Tencent Music Entertainment Group from $18.00 to $15.00 and set a “buy” rating for the company in a research report on Wednesday, August 14th. Daiwa America downgraded Tencent Music Entertainment Group from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, August 13th. Mizuho cut their price objective on Tencent Music Entertainment Group from $17.00 to $16.00 and set an “outperform” rating for the company in a research report on Wednesday, August 14th. Finally, Morgan Stanley lowered Tencent Music Entertainment Group from an “overweight” rating to an “equal weight” rating and lowered their target price for the company from $15.00 to $13.00 in a report on Wednesday, September 25th. Four research analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $12.67.

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.