Swiss National Bank Acquires 168,556 Shares of Tencent Music Entertainment Group – (NYSE:TME)

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Swiss National Bank grew its holdings in Tencent Music Entertainment Group – (NYSE:TME) by 63.9% in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 432,231 shares of the company’s stock after purchasing an additional 168,556 shares during the quarter. Swiss National Bank’s holdings in Tencent Music Entertainment Group were worth $6,479,000 at the end of the most recent reporting period.

Other large investors have also bought and sold shares of the company. Aviva PLC boosted its holdings in shares of Tencent Music Entertainment Group by 3.3% in the 2nd quarter. Aviva PLC now owns 28,400 shares of the company’s stock valued at $426,000 after acquiring an additional 900 shares during the last quarter. Quadrant Capital Group LLC acquired a new stake in Tencent Music Entertainment Group in the 1st quarter valued at $29,000. NEXT Financial Group Inc bought a new position in Tencent Music Entertainment Group in the 2nd quarter valued at $26,000. Deutsche Bank AG bought a new stake in shares of Tencent Music Entertainment Group during the fourth quarter worth $86,000. Finally, Legal & General Group Plc bought a new stake in shares of Tencent Music Entertainment Group during the fourth quarter worth $132,000. Institutional investors and hedge funds own 6.95% of the company’s stock.

Shares of Tencent Music Entertainment Group stock opened at $12.57 on Wednesday. Tencent Music Entertainment Group – has a one year low of $11.81 and a one year high of $19.97. The firm has a market capitalization of $20.56 billion and a price-to-earnings ratio of 62.85. The business has a 50-day simple moving average of $14.40 and a 200 day simple moving average of $15.81.

Tencent Music Entertainment Group (NYSE:TME) last released its quarterly earnings results on Monday, August 12th. The company reported $0.09 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.08 by $0.01. The company had revenue of $859.00 million for the quarter, compared to analyst estimates of $872.51 million. On average, sell-side analysts predict that Tencent Music Entertainment Group – will post 0.35 earnings per share for the current fiscal year.

A number of research analysts have issued reports on TME shares. China International Capital assumed coverage on Tencent Music Entertainment Group in a research note on Monday, May 13th. They issued a “hold” rating for the company. Jefferies Financial Group initiated coverage on Tencent Music Entertainment Group in a research note on Monday, August 5th. They issued a “buy” rating and a $16.90 price objective on the stock. China Renaissance Securities initiated coverage on Tencent Music Entertainment Group in a research note on Monday, May 13th. They issued a “hold” rating on the stock. Zacks Investment Research lowered Tencent Music Entertainment Group from a “buy” rating to a “hold” rating in a research note on Wednesday, May 22nd. Finally, Loop Capital assumed coverage on Tencent Music Entertainment Group in a research note on Tuesday, June 4th. They issued a “buy” rating and a $12.89 price objective on the stock. Six equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $16.39.

About Tencent Music Entertainment Group

Tencent Music Entertainment Group operates an online music entertainment platform that provides online music and music-centric social entertainment services in China. It offers QQ Music, Kugou Music, and Kuwo Music that enable users to discover and listen to music in personalized ways; and WeSing, which enables users to have fun by singing and interacting with friends, sharing their singing performances with friends, and discovering songs that others have sung.

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

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