Union Bancaire Privee UBP SA Makes New Investment in Tencent Music Entertainment Group (NYSE:TME)

Union Bancaire Privee UBP SA acquired a new stake in Tencent Music Entertainment Group (NYSE:TME) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 33,650 shares of the company’s stock, valued at approximately $370,000.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of TME. Wilmington Savings Fund Society FSB purchased a new stake in Tencent Music Entertainment Group during the 3rd quarter worth about $64,000. Avior Wealth Management LLC raised its holdings in Tencent Music Entertainment Group by 253.8% in the third quarter. Avior Wealth Management LLC now owns 5,675 shares of the company’s stock valued at $68,000 after acquiring an additional 4,071 shares in the last quarter. Caprock Group LLC purchased a new position in Tencent Music Entertainment Group in the third quarter worth approximately $147,000. Diversify Advisory Services LLC purchased a new position in Tencent Music Entertainment Group in the third quarter worth approximately $166,000. Finally, DRW Securities LLC purchased a new stake in shares of Tencent Music Entertainment Group in the 3rd quarter valued at approximately $169,000. 24.32% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of brokerages recently commented on TME. Barclays initiated coverage on shares of Tencent Music Entertainment Group in a research note on Wednesday, November 6th. They set an “overweight” rating and a $16.00 target price for the company. Sanford C. Bernstein initiated coverage on Tencent Music Entertainment Group in a research report on Monday, November 4th. They set an “outperform” rating and a $14.00 target price on the stock. Finally, Morgan Stanley upgraded shares of Tencent Music Entertainment Group from an “equal weight” rating to an “overweight” rating and set a $13.00 price objective for the company in a research report on Tuesday, January 21st. Three analysts have rated the stock with a hold rating and ten have given a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $13.54.

Tencent Music Entertainment Group Price Performance

Tencent Music Entertainment Group stock opened at $11.77 on Wednesday. The company has a debt-to-equity ratio of 0.09, a quick ratio of 2.34 and a current ratio of 2.34. The company has a market cap of $20.19 billion, a price-to-earnings ratio of 21.79, a PEG ratio of 0.67 and a beta of 0.69. Tencent Music Entertainment Group has a 1 year low of $8.88 and a 1 year high of $15.77. The firm has a 50 day moving average price of $11.48 and a 200 day moving average price of $11.74.

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.