This morning we watched Tencent Music Entertainment drop -2.7% to a price of $12.29 per share. The Large-Cap Broadcasting company is now trading -12.12% below its average target price of $13.98. Analysts have set target prices ranging from $8.4 to $17.18 per share for Tencent Music Entertainment, and have given the stock an average rating of buy.
The stock has an average amount of shares sold short at 3.4%, and a short ratio of 2.24. At 0.0%, the company's rate of insider ownership does not indicate that management is heavily invested in the corporation. Finally, we also note that an average number of institutional investors are invested in the stock, with 57.7% of Tencent Music Entertainment's shares being owned by this investor type.
Institutions Invested in Tencent Music Entertainment
| Date Reported | Holder | Percentage | Shares | Value |
|---|---|---|---|---|
| 2024-06-30 | Blackrock Inc. | 4% | 31,286,128 | $384,350,077 |
| 2024-06-30 | Invesco Ltd. | 3% | 26,559,469 | $326,283,072 |
| 2024-06-30 | Vanguard Group Inc | 3% | 25,124,755 | $308,657,611 |
| 2024-06-30 | Baillie Gifford and Company | 3% | 22,115,922 | $271,694,098 |
| 2024-06-30 | Krane Funds Advisors LLC | 2% | 17,245,981 | $211,866,873 |
| 2024-06-30 | Schroder Investment Management Group | 2% | 16,806,455 | $206,467,297 |
| 2024-06-30 | Goldman Sachs Group Inc | 2% | 14,011,824 | $172,135,255 |
| 2024-06-30 | Aspex Management (HK) Ltd | 2% | 13,474,261 | $165,531,294 |
| 2024-06-30 | Cantillon Capital Management LLC | 2% | 13,190,802 | $162,049,000 |
| 2024-06-30 | State Street Corporation | 1% | 12,655,263 | $155,469,904 |
Besides an analyst consensus of some upside potential, other market factors point to there being mixed market sentiment on Tencent Music Entertainment.
