River & Mercantile Asset Management LLP sells 25,920 shares of Tencent Music Entertainment Group (NYSE:TME)
River & Mercantile Asset Management LLP, which is a shareholder of Tencent Music Entertainment Group (NYSE:TME), reported a 7.8% decrease in assets during the third quarter, as shown in the company’s latest filing. did with the Securities and Exchange Commission (SEC). Following the transaction that took place during this period, the company held 305,428 shares of the company, having sold 25,920 of these shares. River & Mercantile Asset Management LLP disclosed to the Securities and Exchange Commission in its latest report that the value of its holdings in Tencent Music Entertainment Group was $1,244,000.
This information was included in the report.
The TME has been discussed in various scientific organizations.
Benchmark Research upgraded Tencent Music Entertainment Group from a “hold” rating to a “buy” rating and set a price target of $7.00 on the stock in a research report released on Wednesday, November 16.
The subject of the report was the company’s stock.
In a research report released Dec. 1, Morgan Stanley raised Tencent Music Entertainment Group’s rating to “overweight” from its previous “neutral” status.
An “equal weight” rating had previously been given to the company’s scientific organizations.
Benchmark Research upgraded Tencent Music Entertainment Group from a “hold” rating to a “buy” rating and set a price target of $7.00 on the stock in a research report released on Wednesday, November 16.
The subject of the report was the company’s stock.
In a research report released Dec. 1, Morgan Stanley raised Tencent Music Entertainment Group’s rating to “overweight” from its previous “neutral” status.
An “equal weight” rating had previously been given to the company.
Additionally, they moved the price target they had set for the stock from $4.50 to $8.50, which is a significant increase.
In a report released on January 19 regarding the company’s market performance, the recommendation to “buy” shares of Tencent Music Entertainment Group was changed to “hold.” Tencent Music Entertainment Group’s rating was changed from “sell” to “neutral” by Goldman Sachs Group on Monday, January 9.
This change has been made to reflect the company’s uncertain outlook.
Additionally, they moved the price target they had set for the stock from $5 to $8, which was a significant increase. JPMorgan Chase & Co released a research report on January 30, announcing that it recently began covering Tencent Music Entertainment Group.
They rated the stock as “overweight”, the highest rating possible. Four market watchers gave the stock a Buy recommendation, while only two analysts gave the stock a Hold rating.
According to Bloomberg, the company’s average rating is currently a “Moderate Buy” and the average price target is $7.02.
In recent months, several large investors have made adjustments to the percentage of their portfolios that are made up of TME investments.
Activist Wealth Management added a new investment of $28,000 to a stake it already held in Tencent Music Entertainment Group during the third quarter of 2018.
During the third quarter, Boothbay Fund Management, LLC provided Tencent Music Entertainment Group with a financial contribution of $46,000.
During the second quarter, Cerity Partners LLC made a financial contribution to Tencent Music Entertainment Group of $51,000. $51,000 was invested in Tencent Music Entertainment Group by HighTower Advisors LLC in the first three months of 2018.
And finally, during the second quarter, O Shaughnessy Asset Management LLC invested $54,000 to buy shares of Tencent Music Entertainment Group.
Institutional investors hold these shares up to 21.77% of the shares of the company.
The price at which trading began on the NYSE TME on Thursday was $7.53.
A debt to equity 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 share of Tencent Music Entertainment Group 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 value of 0.80.
The market capitalization of the company’s shares is $12.76 billion.
The stock price’s moving average over the previous two hundred days is $6.45, while the moving average over the previous fifty days is $8.25.
Tencent Music Entertainment Group is in charge of an online platform that offers music and audio entertainment.
This holding also oversees the operation of the platform. Users of its platform have access to a wide variety of online music and audio services, in addition to karaoke, music-focused live streaming events, and online concert offerings.
The company was launched in the market on June 6, 2012 and continues to operate from its headquarters in Shenzhen, China.
