Harbour Capital Advisors LLC Has $619,000 Stock Holdings in Tencent Music Entertainment Group (NYSE:TME)

Harbour Capital Advisors LLC raised its holdings in Tencent Music Entertainment Group (NYSE:TMEFree Report) by 81.2% in the 4th quarter, HoldingsChannel reports. The fund owned 55,480 shares of the company’s stock after acquiring an additional 24,860 shares during the period. Harbour Capital Advisors LLC’s holdings in Tencent Music Entertainment Group were worth $619,000 at the end of the most recent quarter.

Other large investors have also recently modified their holdings of the company. Ashton Thomas Private Wealth LLC acquired a new stake in Tencent Music Entertainment Group in the second quarter valued at $37,000. State of New Jersey Common Pension Fund D bought a new position in shares of Tencent Music Entertainment Group during the second quarter worth about $253,000. American Century Companies Inc. lifted its stake in shares of Tencent Music Entertainment Group by 5.2% in the second quarter. American Century Companies Inc. now owns 613,767 shares of the company’s stock worth $8,623,000 after acquiring an additional 30,399 shares during the period. DekaBank Deutsche Girozentrale boosted its holdings in Tencent Music Entertainment Group by 0.9% in the second quarter. DekaBank Deutsche Girozentrale now owns 101,442 shares of the company’s stock valued at $1,403,000 after acquiring an additional 922 shares during the last quarter. Finally, Wrapmanager Inc. acquired a new stake in Tencent Music Entertainment Group during the 2nd quarter valued at approximately $192,000. Institutional investors own 24.32% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on the stock. Morgan Stanley lowered shares of Tencent Music Entertainment Group from an “overweight” rating to an “equal weight” rating and reduced their price objective for the company from $15.00 to $13.00 in a research note on Wednesday, September 25th. Sanford C. Bernstein started coverage on Tencent Music Entertainment Group in a report on Monday, November 4th. They set an “outperform” rating and a $14.00 price target for the company. Finally, Barclays started coverage on Tencent Music Entertainment Group in a research note on Wednesday, November 6th. They issued an “overweight” rating and a $16.00 price objective on the stock. Four research analysts have rated the stock with a hold rating and ten have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $13.28.

Check Out Our Latest Analysis on TME

Tencent Music Entertainment Group Stock Down 3.5 %

Shares of TME traded down $0.38 during trading hours on Monday, reaching $10.36. The stock had a trading volume of 6,228,217 shares, compared to its average volume of 7,233,317. The firm has a 50-day simple moving average of $11.56 and a 200 day simple moving average of $12.03. Tencent Music Entertainment Group has a 12 month low of $8.19 and a 12 month high of $15.77. The company has a current ratio of 2.34, a quick ratio of 2.34 and a debt-to-equity ratio of 0.09. The company has a market capitalization of $17.78 billion, a price-to-earnings ratio of 19.19, a P/E/G ratio of 0.91 and a beta of 0.69.

Tencent Music Entertainment Group Company Profile

(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.

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Institutional Ownership by Quarter for Tencent Music Entertainment Group (NYSE:TME)

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