OPTIMAS CAPITAL Ltd Takes Position in Tencent Music Entertainment Group Sponsored ADR $TME

OPTIMAS CAPITAL Ltd purchased a new position in Tencent Music Entertainment Group Sponsored ADR (NYSE:TME) in the third quarter, Holdings Channel reports. The fund purchased 392,042 shares of the company’s stock, valued at approximately $9,150,000. Tencent Music Entertainment Group accounts for 5.8% of OPTIMAS CAPITAL Ltd’s holdings, making the stock its 6th biggest holding.

Other institutional investors also recently bought and sold shares of the company. Smartleaf Asset Management LLC acquired a new position in shares of Tencent Music Entertainment Group during the 3rd quarter worth approximately $31,000. Global Retirement Partners LLC increased its holdings in Tencent Music Entertainment Group by 1,326.5% in the 3rd quarter. Global Retirement Partners LLC now owns 1,883 shares of the company’s stock worth $44,000 after acquiring an additional 1,751 shares in the last quarter. Jones Financial Companies Lllp increased its holdings in Tencent Music Entertainment Group by 137.4% in the 3rd quarter. Jones Financial Companies Lllp now owns 2,414 shares of the company’s stock worth $57,000 after acquiring an additional 1,397 shares in the last quarter. EverSource Wealth Advisors LLC raised its position in Tencent Music Entertainment Group by 83.0% during the second quarter. EverSource Wealth Advisors LLC now owns 3,005 shares of the company’s stock worth $59,000 after acquiring an additional 1,363 shares during the period. Finally, MAI Capital Management purchased a new position in Tencent Music Entertainment Group during the second quarter valued at $73,000. 24.32% of the stock is owned by institutional investors and hedge funds.

Tencent Music Entertainment Group Price Performance

TME stock opened at $16.34 on Monday. Tencent Music Entertainment Group Sponsored ADR has a 1 year low of $11.71 and a 1 year high of $26.70. The company has a debt-to-equity ratio of 0.04, a current ratio of 2.09 and a quick ratio of 2.08. The firm has a market capitalization of $28.04 billion, a PE ratio of 17.02, a price-to-earnings-growth ratio of 1.03 and a beta of 0.53. The business has a 50 day simple moving average of $17.42 and a 200-day simple moving average of $20.91.

Analysts Set New Price Targets

Several research analysts recently weighed in on the stock. Weiss Ratings restated a “hold (c+)” rating on shares of Tencent Music Entertainment Group in a research report on Monday, December 29th. Bank of America started coverage on Tencent Music Entertainment Group in a report on Tuesday, October 28th. They set a “neutral” rating and a $25.00 target price for the company. Zacks Research downgraded Tencent Music Entertainment Group from a “strong-buy” rating to a “hold” rating in a research report on Monday, October 13th. Morgan Stanley dropped their price target on Tencent Music Entertainment Group from $27.50 to $25.00 and set an “overweight” rating for the company in a research report on Monday, December 22nd. Finally, Benchmark reduced their price objective on Tencent Music Entertainment Group from $28.00 to $25.00 and set a “buy” rating for the company in a research note on Thursday, November 13th. One investment analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $25.79.

Tencent Music Entertainment Group Profile

Tencent Music Entertainment Group (NYSE: TME) is a China-based digital music and audio entertainment platform that operates a portfolio of leading music streaming and social entertainment services. Its core consumer-facing products include streaming apps, online karaoke (KTV) services and live music and entertainment broadcasts. The company monetizes its content through a mix of subscriptions, digital music sales, in-app purchases, virtual gifting, advertising and licensing arrangements with rights holders.

The company traces its roots to the consolidation of Tencent’s music assets and was established in the mid-2010s to unify several prominent music properties under a single operating entity.