Tencent Music Entertainment Group Sponsored ADR (NYSE:TME) Receives $25.79 Consensus Target Price from Analysts

Shares of Tencent Music Entertainment Group Sponsored ADR (NYSE:TME) have been given a consensus rating of “Moderate Buy” by the thirteen brokerages that are currently covering the stock, MarketBeat reports. Three investment analysts have rated the stock with a hold recommendation, nine have given a buy recommendation and one has given a strong buy recommendation to the company. The average twelve-month price objective among brokerages that have covered the stock in the last year is $25.7875.

TME has been the topic of several recent analyst reports. Weiss Ratings reiterated a “hold (c+)” rating on shares of Tencent Music Entertainment Group in a report on Monday, December 29th. Morgan Stanley lowered their target price on Tencent Music Entertainment Group from $27.50 to $25.00 and set an “overweight” rating for the company in a research note on Monday, December 22nd.

Tencent Music Entertainment Group Stock Up 3.6%

NYSE:TME opened at $14.18 on Friday. Tencent Music Entertainment Group has a 1 year low of $11.71 and a 1 year high of $26.70. The stock has a 50-day moving average price of $15.84 and a two-hundred day moving average price of $19.44. The stock has a market cap of $24.33 billion, a price-to-earnings ratio of 14.77, a PEG ratio of 0.89 and a beta of 0.56. The company has a current ratio of 2.09, a quick ratio of 2.08 and a debt-to-equity ratio of 0.04.

Institutional Investors Weigh In On Tencent Music Entertainment Group

Several large investors have recently made changes to their positions in TME. Green Court Capital Management Ltd boosted its stake in Tencent Music Entertainment Group by 93.1% in the 3rd quarter. Green Court Capital Management Ltd now owns 1,039,078 shares of the company’s stock worth $24,252,000 after purchasing an additional 501,078 shares during the period. Campbell & CO Investment Adviser LLC acquired a new stake in shares of Tencent Music Entertainment Group in the 3rd quarter valued at about $4,257,000. AGF Management Ltd. raised its stake in shares of Tencent Music Entertainment Group by 86.5% in the 3rd quarter. AGF Management Ltd. now owns 878,591 shares of the company’s stock valued at $20,506,000 after purchasing an additional 407,400 shares during the period. OPTIMAS CAPITAL Ltd bought a new stake in shares of Tencent Music Entertainment Group in the third quarter valued at about $9,150,000. Finally, Acadian Asset Management LLC boosted its position in shares of Tencent Music Entertainment Group by 2,928.0% during the second quarter. Acadian Asset Management LLC now owns 1,519,458 shares of the company’s stock worth $29,601,000 after buying an additional 1,469,278 shares during the period. Institutional investors own 24.32% of the company’s stock.

Tencent Music Entertainment Group Company 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.