Fiera Capital Corp Sells 8,851 Shares of Tencent Music Entertainment Group Sponsored ADR (NYSE:TME)

Fiera Capital Corp decreased its holdings in shares of Tencent Music Entertainment Group Sponsored ADR (NYSE:TME) by 3.0% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 284,389 shares of the company’s stock after selling 8,851 shares during the quarter. Fiera Capital Corp’s holdings in Tencent Music Entertainment Group were worth $4,098,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Vanguard Group Inc. raised its holdings in Tencent Music Entertainment Group by 1.1% during the 4th quarter. Vanguard Group Inc. now owns 29,588,812 shares of the company’s stock valued at $335,833,000 after acquiring an additional 332,264 shares during the period. Krane Funds Advisors LLC raised its holdings in Tencent Music Entertainment Group by 20.8% during the 1st quarter. Krane Funds Advisors LLC now owns 23,984,629 shares of the company’s stock valued at $345,619,000 after acquiring an additional 4,128,678 shares during the period. JPMorgan Chase & Co. grew its position in shares of Tencent Music Entertainment Group by 558.2% during the 4th quarter. JPMorgan Chase & Co. now owns 11,773,523 shares of the company’s stock valued at $133,629,000 after purchasing an additional 9,984,690 shares in the last quarter. FMR LLC grew its position in shares of Tencent Music Entertainment Group by 64.7% during the 4th quarter. FMR LLC now owns 9,831,895 shares of the company’s stock valued at $111,592,000 after purchasing an additional 3,861,122 shares in the last quarter. Finally, Norges Bank purchased a new position in shares of Tencent Music Entertainment Group during the 4th quarter valued at $99,539,000. Institutional investors own 24.32% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on TME shares. Nomura Securities upgraded shares of Tencent Music Entertainment Group to a “strong-buy” rating in a research report on Tuesday, April 8th. Wall Street Zen lowered shares of Tencent Music Entertainment Group from a “buy” rating to a “hold” rating in a research report on Saturday, July 26th. Sanford C. Bernstein restated an “outperform” rating on shares of Tencent Music Entertainment Group in a research report on Wednesday, May 14th. Macquarie set a $26.20 price target on shares of Tencent Music Entertainment Group and gave the company an “outperform” rating in a research report on Tuesday, June 17th. Finally, Morgan Stanley restated an “overweight” rating on shares of Tencent Music Entertainment Group in a research report on Tuesday, May 13th. Three investment analysts have rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $16.60.

Tencent Music Entertainment Group Stock Down 3.0%

Shares of NYSE:TME opened at $21.09 on Thursday. Tencent Music Entertainment Group Sponsored ADR has a 52-week low of $9.41 and a 52-week high of $22.50. The firm has a fifty day moving average of $19.31 and a 200 day moving average of $15.25. The firm has a market capitalization of $36.19 billion, a PE ratio of 25.11 and a beta of 0.55. The company has a debt-to-equity ratio of 0.05, a quick ratio of 1.83 and a current ratio of 1.83.

Tencent Music Entertainment Group Company 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.