Shares of Tencent Music Entertainment rose to $11.12 during today's afternoon trading session. Despite the 7.2% change, the Large-Cap Broadcasting company still trades 11.14% above its average analyst target price of $10.01. So there may be further downside for the Broadcasting stock. Tencent Music Entertainment has target prices ranging from $7.58 to $13.14 per share, and its average rating is buy.
Tencent Music Entertainment's short interest — meaning the percentage of the share float that is being shorted — is lower than average at 1.8%. The stock's short ratio is 3.24. At 0.0%, the company's rate of insider ownership does not indicate that management is heavily invested in the corporation.
Another number to watch is the company's rate of institutional share ownership, which now stands at 50.6%. In conclusion, we believe there is mixed market sentiment regarding Tencent Music Entertainment.
Institutions Invested in Tencent Music Entertainment
| Date Reported | Holder | Percentage | Shares | Value |
|---|---|---|---|---|
| 2023-12-31 | Blackrock Inc. | 5% | 41,268,201 | $459,108,736 |
| 2023-12-31 | Baillie Gifford and Company | 3% | 26,745,199 | $297,540,338 |
| 2023-12-31 | Canada Pension Plan Investment Board | 3% | 26,552,513 | $295,396,707 |
| 2023-12-31 | Vanguard Group Inc | 3% | 24,973,543 | $277,830,665 |
| 2023-12-31 | Invesco Ltd. | 3% | 24,117,460 | $268,306,742 |
| 2023-12-31 | Krane Funds Advisors LLC | 3% | 22,992,110 | $255,787,223 |
| 2023-12-31 | Goldman Sachs Group Inc | 2% | 13,871,935 | $154,325,276 |
| 2023-12-31 | State Street Corporation | 2% | 13,154,808 | $146,347,239 |
| 2023-12-31 | Norges Bank Investment Management | 1% | 11,690,107 | $130,052,440 |
| 2023-12-31 | Citigroup Inc. | 1% | 11,138,215 | $123,912,641 |
