White Oak Capital Partners Pte. Ltd. Acquires Shares of 88,220 Tencent Music Entertainment Group (NYSE:TME)

White Oak Capital Partners Pte. Ltd. bought a new position in Tencent Music Entertainment Group (NYSE:TME - Free Report) during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 88,220 shares of the company's stock, valued at approximately $1,000,000. Tencent Music Entertainment Group makes up 0.6% of White Oak Capital Partners Pte. Ltd.'s holdings, making the stock its 4th largest position.

A number of other hedge funds and other institutional investors have also recently modified their holdings of TME. Arvin Capital Management LP bought a new position in Tencent Music Entertainment Group during the 4th quarter valued at about $10,232,000. SIH Partners LLLP raised its holdings in shares of Tencent Music Entertainment Group by 18.7% in the 4th quarter. SIH Partners LLLP now owns 209,700 shares of the company's stock valued at $2,380,000 after purchasing an additional 33,000 shares in the last quarter. Dimensional Fund Advisors LP lifted its holdings in Tencent Music Entertainment Group by 12.1% during the fourth 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 period. First Trust Advisors LP boosted its position in Tencent Music Entertainment Group by 77.2% during the fourth quarter. First Trust Advisors LP now owns 58,851 shares of the company's stock valued at $668,000 after purchasing an additional 25,633 shares in the last quarter. Finally, Marshall Wace LLP boosted its holdings 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 in the last quarter. 24.32% of the stock is currently owned by institutional investors.

Tencent Music Entertainment Group Price Performance

TME stock opened at $12.50 on Wednesday. Tencent Music Entertainment Group has a 52-week low of $9.41 and a 52-week high of $15.77. The business has a fifty day moving average of $13.19 and a two-hundred day moving average of $12.19. The stock has a market cap of $21.44 billion, a price-to-earnings ratio of 23.14, a price-to-earnings-growth ratio of 0.77 and a beta of 0.50. The company has a quick ratio of 2.34, a current ratio of 2.34 and a debt-to-equity ratio of 0.09.

Tencent Music Entertainment Group Increases Dividend

The business also recently disclosed an annual dividend, which will be paid on Thursday, April 24th. Investors of record on Thursday, April 3rd will be issued a $0.18 dividend. This is a positive change from Tencent Music Entertainment Group's previous annual dividend of $0.12. This represents a yield of 0.9%. The ex-dividend date of this dividend is Thursday, April 3rd. Tencent Music Entertainment Group's payout ratio is 28.81%.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on the company. Morgan Stanley restated an "overweight" rating on shares of Tencent Music Entertainment Group in a research note on Tuesday, March 18th. Deutsche Bank Aktiengesellschaft raised shares of Tencent Music Entertainment Group from a "hold" rating to a "buy" rating in a report on Wednesday, March 26th. Mizuho lifted 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 research report on Wednesday, March 19th. Finally, Nomura Securities raised shares of Tencent Music Entertainment Group to a "strong-buy" rating in a research note on Tuesday, April 8th. Two equities research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $15.00.

About Tencent Music Entertainment Group

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.