This afternoon we watched Tencent Music Entertainment drop -2.5% to a price of $9.51 per share. The Large-Cap Broadcasting company is now trading -31.78% below its average target price of $13.94. Analysts have set target prices ranging from $8.4 to $17.19 per share for Tencent Music Entertainment, and have given the stock an average rating of buy.
Tencent Music Entertainment's short interest — meaning the percentage of the share float that is being shorted — is lower than average at 3.7%. The stock's short ratio is 2.54. 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 58.2%. 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 |
|---|---|---|---|---|
| 2024-06-30 | Blackrock Inc. | 4% | 31,286,128 | $297,531,084 |
| 2024-06-30 | Invesco Ltd. | 3% | 26,559,469 | $252,580,556 |
| 2024-06-30 | Vanguard Group Inc | 3% | 25,124,755 | $238,936,425 |
| 2024-06-30 | Baillie Gifford and Company | 3% | 22,115,922 | $210,322,423 |
| 2024-06-30 | Krane Funds Advisors LLC | 2% | 17,245,981 | $164,009,283 |
| 2024-06-30 | Schroder Investment Management Group | 2% | 16,806,455 | $159,829,390 |
| 2024-06-30 | Goldman Sachs Group Inc | 2% | 14,011,824 | $133,252,449 |
| 2024-06-30 | Aspex Management (HK) Ltd | 2% | 13,474,261 | $128,140,225 |
| 2024-06-30 | Cantillon Capital Management LLC | 2% | 13,190,802 | $125,444,530 |
| 2024-06-30 | State Street Corporation | 1% | 12,655,263 | $120,351,554 |
