901,520 Shares in Tencent Music Entertainment Group (NYSE:TME) Purchased by Arvin Capital Management LP

Arvin Capital Management LP purchased a new position in shares of Tencent Music Entertainment Group (NYSE:TME - Free Report) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 901,520 shares of the company's stock, valued at approximately $10,232,000. Tencent Music Entertainment Group makes up 2.9% of Arvin Capital Management LP's portfolio, making the stock its 13th largest position. Arvin Capital Management LP owned about 0.05% of Tencent Music Entertainment Group as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. SIH Partners LLLP lifted its stake in Tencent Music Entertainment Group by 18.7% during the fourth quarter. SIH Partners LLLP now owns 209,700 shares of the company's stock worth $2,380,000 after purchasing an additional 33,000 shares during the last quarter. Dimensional Fund Advisors LP lifted its position in shares of Tencent Music Entertainment Group by 12.1% during the 4th quarter. Dimensional Fund Advisors LP now owns 3,253,409 shares of the company's stock worth $36,925,000 after buying an additional 352,082 shares during the last quarter. First Trust Advisors LP boosted its holdings in shares of Tencent Music Entertainment Group by 77.2% in the 4th quarter. First Trust Advisors LP now owns 58,851 shares of the company's stock valued at $668,000 after buying an additional 25,633 shares in the last quarter. Marshall Wace LLP grew its position in shares of Tencent Music Entertainment Group by 188.0% in the 4th quarter. Marshall Wace LLP now owns 1,676,966 shares of the company's stock valued at $19,034,000 after buying an additional 1,094,647 shares during the last quarter. Finally, NewEdge Advisors LLC raised its stake in Tencent Music Entertainment Group by 22.0% during the 4th quarter. NewEdge Advisors LLC now owns 108,377 shares of the company's stock worth $1,230,000 after acquiring an additional 19,553 shares in the last quarter. 24.32% of the stock is owned by hedge funds and other institutional investors.

Tencent Music Entertainment Group Stock Performance

Shares of Tencent Music Entertainment Group stock traded up $0.05 on Friday, reaching $13.35. 4,009,834 shares of the stock were exchanged, compared to its average volume of 8,317,893. The company has a current ratio of 2.34, a quick ratio of 2.34 and a debt-to-equity ratio of 0.09. The firm has a market capitalization of $22.91 billion, a PE ratio of 24.72, a PEG ratio of 0.77 and a beta of 0.50. Tencent Music Entertainment Group has a 1-year low of $9.41 and a 1-year high of $15.77. The business has a fifty day moving average price of $13.17 and a two-hundred day moving average price of $12.19.

Tencent Music Entertainment Group Increases Dividend

The firm also recently declared an annual dividend, which was paid on Thursday, April 24th. Investors of record on Thursday, April 3rd were paid a $0.18 dividend. The ex-dividend date was Thursday, April 3rd. This is an increase from Tencent Music Entertainment Group's previous annual dividend of $0.12. This represents a dividend yield of 0.9%. Tencent Music Entertainment Group's payout ratio is 28.81%.

Wall Street Analysts Forecast Growth

TME has been the subject of several research analyst reports. Deutsche Bank Aktiengesellschaft raised Tencent Music Entertainment Group from a "hold" rating to a "buy" rating in a report on Wednesday, March 26th. Morgan Stanley reiterated an "overweight" rating on shares of Tencent Music Entertainment Group in a research note on Tuesday, March 18th. Mizuho upped their target price on shares of Tencent Music Entertainment Group from $16.00 to $17.00 and gave the company an "outperform" rating in a report on Wednesday, March 19th. Finally, Nomura Securities raised Tencent Music Entertainment Group to a "strong-buy" rating in a report on Tuesday, April 8th. Two equities research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, Tencent Music Entertainment Group presently has an average rating of "Moderate Buy" and a consensus target price of $15.00.

Tencent Music Entertainment Group 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.