Natixis Investment Managers International Has $209,000 Position in Tencent Music Entertainment Group (NYSE:TME)

Natixis Investment Managers International lifted its stake in Tencent Music Entertainment Group (NYSE:TME) by 20.6% in the second quarter, HoldingsChannel.com reports. The firm owned 13,519 shares of the company’s stock after purchasing an additional 2,312 shares during the quarter. Natixis Investment Managers International’s holdings in Tencent Music Entertainment Group were worth $209,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Lindbrook Capital LLC increased its holdings in shares of Tencent Music Entertainment Group by 281.1% in the second quarter. Lindbrook Capital LLC now owns 2,317 shares of the company’s stock valued at $36,000 after purchasing an additional 1,709 shares in the last quarter. Advisors Asset Management Inc. increased its holdings in shares of Tencent Music Entertainment Group by 113.6% in the second quarter. Advisors Asset Management Inc. now owns 2,320 shares of the company’s stock valued at $36,000 after purchasing an additional 1,234 shares in the last quarter. Cullen Frost Bankers Inc. acquired a new stake in shares of Tencent Music Entertainment Group in the second quarter valued at approximately $38,000. Advisory Services Network LLC acquired a new stake in shares of Tencent Music Entertainment Group in the second quarter valued at approximately $40,000. Finally, Geneos Wealth Management Inc. grew its holdings in Tencent Music Entertainment Group by 434.2% during the 1st quarter. Geneos Wealth Management Inc. now owns 2,393 shares of the company’s stock worth $41,000 after acquiring an additional 1,945 shares during the period. 27.81% of the stock is owned by institutional investors and hedge funds.

A number of analysts have commented on the stock. Jefferies Financial Group lowered their target price on shares of Tencent Music Entertainment Group from $36.00 to $16.00 and set a “buy” rating for the company in a report on Tuesday, August 17th. TheStreet lowered shares of Tencent Music Entertainment Group from a “c-” rating to a “d+” rating in a report on Thursday, August 12th. Loop Capital lowered shares of Tencent Music Entertainment Group from a “buy” rating to a “hold” rating and lowered their target price for the stock from $17.00 to $10.00 in a report on Monday, September 13th. JPMorgan Chase & Co. lowered shares of Tencent Music Entertainment Group from an “overweight” rating to a “neutral” rating in a report on Wednesday, August 11th. Finally, Macquarie lowered shares of Tencent Music Entertainment Group from a “neutral” rating to an “underperform” rating and lowered their target price for the stock from $11.30 to $5.10 in a report on Tuesday, August 17th. Three analysts have rated the stock with a sell rating, seven have given a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $19.01.

TME traded down $0.32 during trading on Thursday, hitting $7.56. The company had a trading volume of 179,053 shares, compared to its average volume of 22,215,230. The company has a market capitalization of $12.68 billion, a PE ratio of 21.30, a PEG ratio of 4.58 and a beta of 1.01. Tencent Music Entertainment Group has a one year low of $6.82 and a one year high of $32.25. The firm’s 50-day moving average price is $8.31 and its 200 day moving average price is $13.02. The company has a quick ratio of 2.87, a current ratio of 2.88 and a debt-to-equity ratio of 0.10.

Tencent Music Entertainment Group (NYSE:TME) last posted its quarterly earnings data on Sunday, August 15th. The company reported $0.66 EPS for the quarter, beating the consensus estimate of $0.08 by $0.58. The business had revenue of $8.01 billion for the quarter, compared to analysts’ expectations of $8.10 billion. Tencent Music Entertainment Group had a net margin of 12.83% and a return on equity of 8.68%. The firm’s revenue was up 15.5% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.70 EPS. Sell-side analysts forecast that Tencent Music Entertainment Group will post 0.28 earnings per share for the current year.

Tencent Music Entertainment Group Company Profile

Tencent Music Entertainment Group engages in the operation of an online music entertainment platform. Its platform comprises of online music, online karaoke, and music-centric live streaming products. The company was founded on June 6, 2012 and is headquartered in Beijing, China.

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

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