Tencent Music Entertainment Group (NYSE:TME) Shares Purchased by UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in Tencent Music Entertainment Group (NYSE:TME) by 287.4% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 4,845,013 shares of the company’s stock after buying an additional 3,594,383 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC’s holdings in Tencent Music Entertainment Group were worth $58,382,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of TME. Ninety One UK Ltd acquired a new stake in shares of Tencent Music Entertainment Group in the second quarter worth approximately $122,775,000. Cantillon Capital Management LLC lifted its holdings in Tencent Music Entertainment Group by 39.9% in the 3rd quarter. Cantillon Capital Management LLC now owns 18,456,585 shares of the company’s stock valued at $222,402,000 after purchasing an additional 5,265,783 shares in the last quarter. Acadian Asset Management LLC boosted its stake in Tencent Music Entertainment Group by 18,902.2% during the 2nd quarter. Acadian Asset Management LLC now owns 4,468,752 shares of the company’s stock worth $62,765,000 after purchasing an additional 4,445,235 shares during the last quarter. Mawer Investment Management Ltd. grew its holdings in shares of Tencent Music Entertainment Group by 1,131.8% during the third quarter. Mawer Investment Management Ltd. now owns 4,547,836 shares of the company’s stock worth $54,801,000 after buying an additional 4,178,636 shares in the last quarter. Finally, FMR LLC raised its position in shares of Tencent Music Entertainment Group by 98.8% in the third quarter. FMR LLC now owns 5,970,773 shares of the company’s stock valued at $71,948,000 after buying an additional 2,967,779 shares during the last quarter. 24.32% of the stock is currently owned by hedge funds and other institutional investors.

Tencent Music Entertainment Group Trading Up 0.8 %

Shares of TME stock opened at $12.29 on Wednesday. The company has a 50-day moving average of $11.84 and a two-hundred day moving average of $12.58. The firm has a market cap of $21.09 billion, a PE ratio of 22.76, a price-to-earnings-growth ratio of 0.92 and a beta of 0.68. Tencent Music Entertainment Group has a 1-year low of $7.93 and a 1-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.

Analyst Upgrades and Downgrades

TME has been the topic of a number of recent research reports. Mizuho lowered their price target on shares of Tencent Music Entertainment Group from $17.00 to $16.00 and set an “outperform” rating on the stock in a research report on Wednesday, August 14th. Barclays assumed coverage on Tencent Music Entertainment Group in a report on Wednesday, November 6th. They set an “overweight” rating and a $16.00 target price on the stock. Bank of America cut their price target on Tencent Music Entertainment Group from $18.00 to $15.00 and set a “buy” rating for the company in a report on Wednesday, August 14th. Benchmark dropped their target price on Tencent Music Entertainment Group from $19.00 to $15.00 and set a “buy” rating for the company in a report on Wednesday, August 14th. Finally, Daiwa America lowered Tencent Music Entertainment Group from a “strong-buy” rating to a “hold” rating in a report on Tuesday, August 13th. Four research analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $13.28.

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.