Lbp Am Sa Has $3.97 Million Stock Position in Tencent Music Entertainment Group (NYSE:TME)

Lbp Am Sa grew its position in Tencent Music Entertainment Group (NYSE:TME) by 3.2% in the 4th quarter, Holdings Channel.com reports. The institutional investor owned 350,000 shares of the company’s stock after acquiring an additional 11,000 shares during the period. Lbp Am Sa’s holdings in Tencent Music Entertainment Group were worth $3,972,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in TME. Wilmington Savings Fund Society FSB acquired a new position in shares of Tencent Music Entertainment Group in the 3rd quarter valued at $64,000. Avior Wealth Management LLC boosted its stake in Tencent Music Entertainment Group by 253.8% in the 3rd quarter. Avior Wealth Management LLC now owns 5,675 shares of the company’s stock worth $68,000 after purchasing an additional 4,071 shares during the period. SBI Securities Co. Ltd. acquired a new position in Tencent Music Entertainment Group in the 4th quarter worth $110,000. Oppenheimer Asset Management Inc. acquired a new position in Tencent Music Entertainment Group in the 4th quarter worth $114,000. Finally, PNC Financial Services Group Inc. boosted its stake in Tencent Music Entertainment Group by 10.9% in the 4th quarter. PNC Financial Services Group Inc. now owns 11,138 shares of the company’s stock worth $126,000 after purchasing an additional 1,094 shares during the period. Institutional investors and hedge funds own 24.32% of the company’s stock.

Tencent Music Entertainment Group Trading Up 1.0 %

Tencent Music Entertainment Group stock opened at $12.53 on Friday. The firm has a 50-day moving average of $12.09 and a 200-day moving average of $11.69. Tencent Music Entertainment Group has a one year low of $9.41 and a one year high of $15.77. The company has a debt-to-equity ratio of 0.09, a current ratio of 2.34 and a quick ratio of 2.34. The company has a market cap of $21.49 billion, a price-to-earnings ratio of 23.19, a P/E/G ratio of 0.77 and a beta of 0.70.

Wall Street Analysts Forecast Growth

Separately, Morgan Stanley raised shares of Tencent Music Entertainment Group from an “equal weight” rating to an “overweight” rating and set a $13.00 target price for the company in a research note on Tuesday, January 21st. Three equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $14.04.

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.