River & Mercantile Asset Management LLP sells 25,920 shares in Tencent Music Entertainment Group (NYSE:TME)
River & Mercantile Asset Management LLP, a shareholder of Tencent Music Entertainment Group (NYSE: TME), reported a 7.8 percent decline in holdings in the third quarter, according to the company’s most recent filing with the Securities and Exchange Commission ( SEC). Following the transaction, which took place during this period, the company held 305,428 shares of the company after selling 25,920 of those shares. River & Mercantile Asset Management LLP disclosed to the Securities and Exchange Commission in its most recent report that the value of its holdings in Tencent Music Entertainment Group was $1,244,000.
This information has been included in the report.
The TME has been put up for discussion at a variety of different scientific organizations.
Benchmark Research has upgraded Tencent Music Entertainment Group from a ‘hold’ rating to a ‘buy’ rating and issued an update on Wednesday, March 16th.
The subject of the report was the company’s stock.
In a research report published Dec. 1, Morgan Stanley upgraded its rating on Tencent Music Entertainment Group to overweight from its previous “neutral” status.
Previously, the company’s scientific organizations were given an “equal weight” rating.
Benchmark Research has upgraded Tencent Music Entertainment Group from a ‘hold’ rating to a ‘buy’ rating and issued an update on Wednesday, March 16th.
The subject of the report was the company’s stock.
In a research report published Dec. 1, Morgan Stanley upgraded its rating on Tencent Music Entertainment Group to overweight from its previous “neutral” status.
The company had previously been given an “equal weight” rating.
Additionally, they have raised the price target they had set on the stock from $4.50 to $8.50 which is a significant increase.
In a report on the company’s market performance published on Jan. 19, the recommendation to “buy” shares in Tencent Music Entertainment Group was changed to a “hold”. The rating for Tencent Music Entertainment Group was changed from sell to neutral by Goldman Sachs Group on Monday, January 9th.
This change was made to reflect the Company’s uncertain outlook.
Additionally, they raised the price target they had set on the stock from $5 to $8, which was a significant increase. JPMorgan Chase & Co released a research report on Jan. 30 and announced that it recently began reporting on Tencent Music Entertainment Group.
They gave the stock an “overweight” rating, the highest possible rating. Four market observers gave the stock a buy rating, while only two analysts gave the stock a hold rating.
According to Bloomberg, the average rating for the company is currently a “moderate buy” and the average target price is $7.02.
In recent months, several large investors have made adjustments to the percentage of their portfolios that are made up of TME assets.
Activist Wealth Management added a new $28,000 investment to a stake they already had in Tencent Music Entertainment Group in the third quarter of 2018.
During the third quarter, Boothbay Fund Management, LLC made a financial contribution of US$46,000 to Tencent Music Entertainment Group.
During the second quarter, Cerity Partners LLC made a financial contribution of $51,000 to Tencent Music Entertainment Group. In the first three months of 2018, HighTower Advisors LLC invested $51,000 in Tencent Music Entertainment Group.
And finally, in the second quarter, O Shaughnessy Asset Management LLC invested $54,000 to buy shares in Tencent Music Entertainment Group.
Institutional investors own these shares amounting to 21.77% of the company’s shares.
The price at which trading began on the NYSE TME on Thursday was $7.53.
A gearing ratio is 0.12; a quick ratio at 2.15; a current ratio of 2.15; and a quick ratio at 2.15. Over the past 52 weeks, the price of a Tencent Music Entertainment Group share has ranged from a low of $3.14 to a high of $9.29.
The price-earnings ratio of the stock is 26.89; The price to growth ratio of the stock is 0.66 and the stock has a beta of 0.80.
The company’s stock market capitalization is $12.76 billion.
The two hundred day moving average of the stock price is $6.45, while the fifty day moving average is $8.25.
Tencent Music Entertainment Group is responsible for an online platform that offers music and audio entertainment.
This holding company also oversees the operation of the platform. Users of the platform have access to a variety of online music and audio services, in addition to karaoke, music-focused live streaming events and online concert offerings.
The company went public on June 6, 2012 and continues to conduct its business from its headquarters in Shenzhen, China.
