River & Mercantile Asset Management LLP, which is a shareholder in Tencent Music Entertainment Group (NYSE: TME), reported a decrease in holdings of 7.8 percent during the third quarter, as stated in the most recent filing that the company made with the Securities and Exchange Commission (SEC). Following the transaction that took place during that period, the company held 305,428 shares of the company’s stock, having sold 25,920 of those shares. River & Mercantile Asset Management LLP disclosed to the Securities and Exchange Commission in its most recent report that the value of its holdings in Tencent Music Entertainment Group was $1,244,000.
This information was included in the report.
The TME has been brought up for discussion at a variety of different scientific organizations.
Benchmark Research upgraded Tencent Music Entertainment Group from a “hold” rating to a “buy” rating and set a price objective of $7.00 on the stock in a research report published on Wednesday, November 16.
The report’s subject matter was the stock of the company.
In a research report published on December 1, Morgan Stanley raised its rating for Tencent Music Entertainment Group to “overweight” from its previous “neutral” status.
An “equal weight” rating had previously been assigned to the company’s scientific organizations.
Benchmark Research upgraded Tencent Music Entertainment Group from a “hold” rating to a “buy” rating and set a price objective of $7.00 on the stock in a research report published on Wednesday, November 16.
The report’s subject matter was the stock of the company.
In a research report published on December 1, Morgan Stanley raised its rating for Tencent Music Entertainment Group to “overweight” from its previous “neutral” status.
An “equal weight” rating had previously been assigned to the company.
In addition, they moved the price target they had set for the stock from $4.50 to $8.50, which is a significant increase.
In a report released on January 19 regarding the company’s market performance, the recommendation to “buy” shares of Tencent Music Entertainment Group was changed to “hold.” The rating for Tencent Music Entertainment Group was changed from “sell” to “neutral” by Goldman Sachs Group on Monday, January 9.
This change was made to reflect the uncertain prospects of the company.
In addition, they moved the price target they had set for the stock from $5 to $8, which was a significant increase. JPMorgan Chase & Co published a research report on January 30, announcing that it recently began covering Tencent Music Entertainment Group.
They rated the stock as “overweight,” the highest possible rating. Four market watchers have given the stock a recommendation to buy, whereas only two analysts have given the stock a rating of hold.
According to Bloomberg, the average rating for the company is currently a “Moderate Buy,” and the average price goal is $7.02.
Recent months have seen several large investors make adjustments to the percentage of their portfolios that are comprised of TME investments.
Activist Wealth Management added a new $28,000 investment to a holding they already had in Tencent Music Entertainment Group during the third quarter of 2018.
During the third quarter, Boothbay Fund Management, LLC, provided Tencent Music Entertainment Group with a financial contribution of $46,000.
During the second quarter, Cerity Partners LLC made a financial contribution to Tencent Music Entertainment Group of $51,000. $51,000 was invested in Tencent Music Entertainment Group by HighTower Advisors LLC during the first three months of 2018.
And finally, during the second quarter, O Shaughnessy Asset Management LLC invested $54,000 to purchase Tencent Music Entertainment Group stock.
Institutional investors own those shares to the tune of 21.77% of the company’s stock.
The price at which trading began on the NYSE TME on Thursday was $7.53.
A debt-to-equity ratio comes in at 0.12; a quick ratio at 2.15; a current ratio at 2.15; and a quick ratio at 2.15. Over the last 52 weeks, the price of a share of Tencent Music Entertainment Group has ranged from a low of $3.14 to a high of $9.29.
The price-to-earnings ratio of the stock is 26.89; the price-to-growth ratio of the stock is 0.66, and the stock has a beta value of 0.80.
The market capitalization of the company’s stock is $12.76 billion.
The moving average of the stock price over the previous two hundred days is $6.45, while the moving average over the previous fifty days is $8.25.
The Tencent Music Entertainment Group is in charge of an online platform that delivers music and audio entertainment.
This holding company also oversees the operation of the platform. Users of its platform have access to a wide variety of online music and audio services, in addition to karaoke, live streaming events focused on music, and online concert offerings.
The company went live on the market on June 6, 2012, and continues to conduct business from its headquarters in Shenzhen, China.