Tencent Music Entertainment Group (NYSE:TME) Upgraded to Buy at Deutsche Bank Aktiengesellschaft

Tencent Music Entertainment Group (NYSE:TME) was upgraded by stock analysts at Deutsche Bank Aktiengesellschaft from a “hold” rating to a “buy” rating in a note issued to investors on Wednesday, Marketbeat.com reports.

Several other brokerages have also commented on TME. Morgan Stanley upgraded shares of Tencent Music Entertainment Group from an “equal weight” rating to an “overweight” rating and set a $13.00 price target on the stock in a research note on Tuesday, January 21st. Mizuho raised their target price on Tencent Music Entertainment Group from $16.00 to $17.00 and gave the company an “outperform” rating in a report on Wednesday, March 19th. Two equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $15.00.

Tencent Music Entertainment Group Stock Up 1.2 %

Tencent Music Entertainment Group stock traded up $0.18 during trading hours on Wednesday, hitting $14.43. The company had a trading volume of 374,084 shares, compared to its average volume of 8,376,399. Tencent Music Entertainment Group has a fifty-two week low of $9.41 and a fifty-two week 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 firm has a market capitalization of $24.75 billion, a P/E ratio of 26.67, a price-to-earnings-growth ratio of 0.77 and a beta of 0.70. The firm’s fifty day moving average is $12.58 and its 200-day moving average is $11.89.

Institutional Trading of Tencent Music Entertainment Group

A number of large investors have recently bought and sold shares of the stock. Wilmington Savings Fund Society FSB acquired a new stake in shares of Tencent Music Entertainment Group in the 3rd quarter valued at $64,000. SBI Securities Co. Ltd. acquired a new position in shares of Tencent Music Entertainment Group during the fourth quarter valued at $110,000. Oppenheimer Asset Management Inc. bought a new position in Tencent Music Entertainment Group in the fourth quarter valued at about $114,000. PNC Financial Services Group Inc. increased its position in Tencent Music Entertainment Group by 10.9% in the fourth 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. Finally, Unigestion Holding SA bought a new position in Tencent Music Entertainment Group in the fourth quarter valued at approximately $161,000. 24.32% of the stock is currently owned by institutional investors.

About Tencent Music Entertainment Group

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.