William Blair Investment Management LLC Has $100.07 Million Stock Position in Tencent Music Entertainment Group – (NYSE:TME)

William Blair Investment Management LLC raised its stake in shares of Tencent Music Entertainment Group – (NYSE:TME) by 271.3% in the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 5,528,624 shares of the company’s stock after acquiring an additional 4,039,589 shares during the quarter. William Blair Investment Management LLC owned approximately 0.34% of Tencent Music Entertainment Group worth $100,065,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently modified their holdings of the business. Baillie Gifford & Co. lifted its holdings in shares of Tencent Music Entertainment Group by 16.0% during the 1st quarter. Baillie Gifford & Co. now owns 9,506,034 shares of the company’s stock valued at $172,059,000 after purchasing an additional 1,309,945 shares in the last quarter. Krane Funds Advisors LLC lifted its holdings in shares of Tencent Music Entertainment Group by 17.3% during the 1st quarter. Krane Funds Advisors LLC now owns 5,360,206 shares of the company’s stock valued at $97,020,000 after purchasing an additional 789,610 shares in the last quarter. Segantii Capital Management Ltd lifted its holdings in shares of Tencent Music Entertainment Group by 1,624,202.9% during the 1st quarter. Segantii Capital Management Ltd now owns 5,019,096 shares of the company’s stock valued at $90,846,000 after purchasing an additional 5,018,787 shares in the last quarter. Hsbc Holdings PLC bought a new position in shares of Tencent Music Entertainment Group during the 4th quarter valued at about $37,524,000. Finally, Temasek Holdings Private Ltd bought a new position in shares of Tencent Music Entertainment Group during the 4th quarter valued at about $32,753,000. 5.72% of the stock is owned by institutional investors.

Shares of Tencent Music Entertainment Group stock traded up $0.02 on Friday, reaching $14.99. 6,754,373 shares of the company were exchanged, compared to its average volume of 6,142,306. The firm has a market cap of $24.22 billion and a P/E ratio of 74.95. Tencent Music Entertainment Group – has a one year low of $11.81 and a one year high of $19.97. The firm’s 50-day moving average is $14.24.

Tencent Music Entertainment Group (NYSE:TME) last posted its earnings results on Monday, May 13th. The company reported $0.10 earnings per share for the quarter, topping analysts’ consensus estimates of $0.08 by $0.02. The business had revenue of $855.00 million for the quarter, compared to analyst estimates of $861.27 million. On average, sell-side analysts predict that Tencent Music Entertainment Group – will post 0.36 EPS for the current fiscal year.

Several equities analysts have recently weighed in on TME shares. Bank of America lifted their price objective on Tencent Music Entertainment Group from $17.10 to $20.10 and gave the company a “buy” rating in a report on Tuesday, March 5th. China Renaissance Securities assumed coverage on Tencent Music Entertainment Group in a research note on Monday, May 13th. They issued a “hold” rating on the stock. Credit Suisse Group cut Tencent Music Entertainment Group from an “outperform” rating to a “neutral” rating and set a $18.00 target price on the stock. in a research note on Wednesday, March 20th. Stifel Nicolaus restated a “hold” rating and issued a $16.00 target price on shares of Tencent Music Entertainment Group in a research note on Tuesday, March 12th. Finally, CICC Research initiated coverage on Tencent Music Entertainment Group in a research note on Thursday, June 13th. They issued a “buy” rating on the stock. Six analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. Tencent Music Entertainment Group presently has a consensus rating of “Buy” and an average price target of $16.38.

About Tencent Music Entertainment Group

Tencent Music Entertainment Group operates an online music entertainment platform that provides online music and music-centric social entertainment services in China. It offers QQ Music, Kugou Music, and Kuwo Music that enable users to discover and listen to music in personalized ways; and WeSing, which enables users to have fun by singing and interacting with friends, sharing their singing performances with friends, and discovering songs that others have sung.

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

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