Fiera Capital Corp Has $5.04 Million Stock Holdings in Tencent Music Entertainment Group (NYSE:TME)

Fiera Capital Corp boosted its holdings in shares of Tencent Music Entertainment Group (NYSE:TME) by 10.4% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 358,362 shares of the company’s stock after buying an additional 33,888 shares during the period. Fiera Capital Corp’s holdings in Tencent Music Entertainment Group were worth $5,035,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently bought and sold shares of the company. QRG Capital Management Inc. grew its stake in Tencent Music Entertainment Group by 5.7% during the 2nd quarter. QRG Capital Management Inc. now owns 15,843 shares of the company’s stock valued at $223,000 after acquiring an additional 860 shares in the last quarter. Tobam increased its stake in Tencent Music Entertainment Group by 37.7% in the 2nd quarter. Tobam now owns 3,498 shares of the company’s stock valued at $49,000 after buying an additional 957 shares during the period. Atomi Financial Group Inc. increased its stake in Tencent Music Entertainment Group by 6.1% in the 2nd quarter. Atomi Financial Group Inc. now owns 26,996 shares of the company’s stock valued at $379,000 after buying an additional 1,561 shares during the period. Parallel Advisors LLC lifted its position in Tencent Music Entertainment Group by 27.1% in the 4th quarter. Parallel Advisors LLC now owns 10,927 shares of the company’s stock worth $98,000 after buying an additional 2,328 shares in the last quarter. Finally, Blue Trust Inc. boosted its stake in shares of Tencent Music Entertainment Group by 30.9% during the 2nd quarter. Blue Trust Inc. now owns 16,166 shares of the company’s stock valued at $227,000 after buying an additional 3,819 shares during the period. 24.32% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on TME shares. Daiwa America downgraded shares of Tencent Music Entertainment Group from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, August 13th. Benchmark cut their price target on Tencent Music Entertainment Group from $19.00 to $15.00 and set a “buy” rating for the company in a research note on Wednesday, August 14th. Bank of America lowered their price target on Tencent Music Entertainment Group from $18.00 to $15.00 and set a “buy” rating for the company in a research note on Wednesday, August 14th. Mizuho dropped their price objective on Tencent Music Entertainment Group from $17.00 to $16.00 and set an “outperform” rating on the stock in a report on Wednesday, August 14th. Finally, Daiwa Capital Markets cut shares of Tencent Music Entertainment Group from an “outperform” rating to a “neutral” rating in a research note on Tuesday, August 13th. Three investment analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $12.72.

Tencent Music Entertainment Group Trading Down 0.9 %

NYSE:TME opened at $10.35 on Wednesday. The company’s 50 day moving average is $13.06 and its 200-day moving average is $12.69. The company has a quick ratio of 2.34, a current ratio of 2.34 and a debt-to-equity ratio of 0.09. Tencent Music Entertainment Group has a 12 month low of $5.96 and a 12 month high of $15.77. The firm has a market cap of $17.76 billion, a price-to-earnings ratio of 22.50, a P/E/G ratio of 0.78 and a beta of 0.65.

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.