Fiera Capital Corp Has $5.23 Million Stock Position in Tencent Music Entertainment Group (NYSE:TME)

Fiera Capital Corp grew its holdings in shares of Tencent Music Entertainment Group (NYSE:TME) by 21.2% during the third quarter, Holdings Channel reports. The firm owned 434,353 shares of the company’s stock after purchasing an additional 75,991 shares during the period. Fiera Capital Corp’s holdings in Tencent Music Entertainment Group were worth $5,234,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of the business. Principal Financial Group Inc. raised its holdings in Tencent Music Entertainment Group by 4.0% during the third quarter. Principal Financial Group Inc. now owns 5,478,297 shares of the company’s stock valued at $66,013,000 after buying an additional 211,873 shares in the last quarter. Asset Management One Co. Ltd. increased its holdings in shares of Tencent Music Entertainment Group by 3.2% during the 3rd quarter. Asset Management One Co. Ltd. now owns 491,178 shares of the company’s stock valued at $5,919,000 after acquiring an additional 15,210 shares during the last quarter. Robeco Institutional Asset Management B.V. raised its stake in shares of Tencent Music Entertainment Group by 69.3% in the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 3,612,406 shares of the company’s stock valued at $43,529,000 after acquiring an additional 1,478,397 shares in the last quarter. Veritas Asset Management LLP acquired a new stake in Tencent Music Entertainment Group in the 3rd quarter worth approximately $25,151,000. Finally, Coronation Fund Managers Ltd. boosted its position in Tencent Music Entertainment Group by 84.6% during the third quarter. Coronation Fund Managers Ltd. now owns 5,656,233 shares of the company’s stock worth $68,158,000 after purchasing an additional 2,592,381 shares during the period. Institutional investors and hedge funds own 24.32% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have recently commented on the stock. 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. Benchmark lowered their price target on Tencent Music Entertainment Group from $19.00 to $15.00 and set a “buy” rating on the stock in a research report on Wednesday, August 14th. Mizuho cut their price objective on Tencent Music Entertainment Group from $17.00 to $16.00 and set an “outperform” rating for the company in a research report on Wednesday, August 14th. Daiwa America lowered Tencent Music Entertainment Group from a “strong-buy” rating to a “hold” rating in a report on Tuesday, August 13th. Finally, Morgan Stanley lowered Tencent Music Entertainment Group from an “overweight” rating to an “equal weight” rating and cut their price target for the stock from $15.00 to $13.00 in a report on Wednesday, September 25th. Four analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $13.03.

Tencent Music Entertainment Group Stock Performance

NYSE:TME opened at $11.39 on Friday. The firm has a market capitalization of $19.55 billion, a PE ratio of 22.78, a price-to-earnings-growth ratio of 0.86 and a beta of 0.67. 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 $6.76 and a 12-month high of $15.77. The firm has a 50-day moving average price of $11.39 and a 200 day moving average price of $12.85.

Tencent Music Entertainment Group (NYSE:TME) last issued its earnings results on Tuesday, August 13th. The company reported $0.15 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.16 by ($0.01). The company had revenue of $985.00 million during the quarter, compared to analyst estimates of $1 billion. Tencent Music Entertainment Group had a return on equity of 10.11% and a net margin of 20.35%. Research analysts anticipate that Tencent Music Entertainment Group will post 0.63 earnings per share for the current fiscal year.

Tencent Music Entertainment Group Company 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.