Edmond DE Rothschild Holding S.A. Has $4.67 Million Position in Tencent Music Entertainment Group Sponsored ADR $TME

by · The Cerbat Gem

Edmond DE Rothschild Holding S.A. reduced its holdings in Tencent Music Entertainment Group Sponsored ADR (NYSE:TME – Free Report) by 4.0% during the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 239,750 shares of the company’s stock after selling 10,000 shares during the period. Edmond DE Rothschild Holding S.A.’s holdings in Tencent Music Entertainment Group were worth $4,673,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also made changes to their positions in TME. SVB Wealth LLC bought a new stake in shares of Tencent Music Entertainment Group in the 1st quarter worth approximately $34,000. Banque Transatlantique SA acquired a new stake in Tencent Music Entertainment Group during the first quarter valued at approximately $46,000. MAI Capital Management bought a new stake in shares of Tencent Music Entertainment Group in the 2nd quarter valued at approximately $73,000. Brooklyn Investment Group grew its stake in shares of Tencent Music Entertainment Group by 957.1% in the 1st quarter. Brooklyn Investment Group now owns 4,757 shares of the company’s stock valued at $69,000 after purchasing an additional 4,307 shares during the period. Finally, iA Global Asset Management Inc. acquired a new position in shares of Tencent Music Entertainment Group in the 2nd quarter worth approximately $131,000. Institutional investors own 24.32% of the company’s stock.

Analyst Upgrades and Downgrades

TME has been the topic of several recent analyst reports. Citigroup reaffirmed a “buy” rating and issued a $29.00 price target (up previously from $23.00) on shares of Tencent Music Entertainment Group in a research note on Tuesday, August 12th. Sanford C. Bernstein set a $27.50 target price on shares of Tencent Music Entertainment Group and gave the company an “outperform” rating in a research note on Wednesday, August 13th. Macquarie set a $29.80 target price on shares of Tencent Music Entertainment Group and gave the stock an “outperform” rating in a report on Tuesday, August 12th. Zacks Research downgraded shares of Tencent Music Entertainment Group from a “strong-buy” rating to a “hold” rating in a report on Monday, October 13th. Finally, Weiss Ratings restated a “buy (b-)” rating on shares of Tencent Music Entertainment Group in a research report on Wednesday, October 8th. One equities research analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $24.29.

Read Our Latest Research Report on TME

Tencent Music Entertainment Group Stock Performance

Shares of NYSE:TME opened at $18.43 on Wednesday. The business has a fifty day moving average of $22.16 and a 200-day moving average of $21.35. The firm has a market cap of $31.62 billion, a PE ratio of 19.19, a price-to-earnings-growth ratio of 1.10 and a beta of 0.51. The company has a debt-to-equity ratio of 0.04, a quick ratio of 2.08 and a current ratio of 2.09. Tencent Music Entertainment Group Sponsored ADR has a twelve month low of $10.26 and a twelve month high of $26.70.

About Tencent Music Entertainment Group

(Free Report)

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.

Featured Articles

Want to see what other hedge funds are holding TME? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Tencent Music Entertainment Group Sponsored ADR (NYSE:TME – Free Report).