Arvin Capital Management LP Makes New $10.23 Million Investment in Tencent Music Entertainment Group (NYSE:TME)

Arvin Capital Management LP bought a new position in shares of Tencent Music Entertainment Group (NYSE:TME - Free Report) during the 4th quarter, according to its most recent disclosure with the SEC. The fund bought 901,520 shares of the company's stock, valued at approximately $10,232,000. Tencent Music Entertainment Group accounts for 2.9% of Arvin Capital Management LP's holdings, making the stock its 13th biggest holding. Arvin Capital Management LP owned approximately 0.05% of Tencent Music Entertainment Group as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in TME. Nordea Investment Management AB lifted its stake in shares of Tencent Music Entertainment Group by 9.5% in the fourth quarter. Nordea Investment Management AB now owns 1,464,366 shares of the company's stock worth $16,738,000 after acquiring an additional 127,561 shares during the period. Oppenheimer Asset Management Inc. bought a new position in Tencent Music Entertainment Group during the 4th quarter worth approximately $114,000. Principal Financial Group Inc. lifted its position in shares of Tencent Music Entertainment Group by 4.0% in the 3rd quarter. Principal Financial Group Inc. now owns 5,478,297 shares of the company's stock worth $66,013,000 after purchasing an additional 211,873 shares during the period. Asset Management One Co. Ltd. boosted its stake in shares of Tencent Music Entertainment Group by 2.2% in the 4th quarter. Asset Management One Co. Ltd. now owns 502,083 shares of the company's stock valued at $5,884,000 after purchasing an additional 10,905 shares during the last quarter. Finally, Geode Capital Management LLC increased its position in shares of Tencent Music Entertainment Group by 3.7% during the fourth quarter. Geode Capital Management LLC now owns 4,463,596 shares of the company's stock worth $50,323,000 after buying an additional 160,078 shares during the period. Institutional investors own 24.32% of the company's stock.

Tencent Music Entertainment Group Stock Up 0.4 %

TME stock traded up $0.05 during trading on Friday, reaching $13.35. 4,009,834 shares of the stock were exchanged, compared to its average volume of 8,327,168. The company has a current ratio of 2.34, a quick ratio of 2.34 and a debt-to-equity ratio of 0.09. Tencent Music Entertainment Group has a twelve month low of $9.41 and a twelve month high of $15.77. The firm's 50 day moving average is $13.17 and its 200 day moving average is $12.20. The firm has a market cap of $22.91 billion, a P/E ratio of 24.72, a price-to-earnings-growth ratio of 0.77 and a beta of 0.50.

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 given a $0.18 dividend. The ex-dividend date was Thursday, April 3rd. This represents a yield of 0.9%. This is an increase from Tencent Music Entertainment Group's previous annual dividend of $0.12. Tencent Music Entertainment Group's dividend payout ratio (DPR) is presently 28.81%.

Wall Street Analyst Weigh In

A number of brokerages have commented on TME. Morgan Stanley reaffirmed an "overweight" rating on shares of Tencent Music Entertainment Group in a research report on Tuesday, March 18th. Nomura Securities upgraded Tencent Music Entertainment Group to a "strong-buy" rating in a research report on Tuesday, April 8th. Mizuho raised their target price on Tencent Music Entertainment Group from $16.00 to $17.00 and gave the stock an "outperform" rating in a research note on Wednesday, March 19th. Finally, Deutsche Bank Aktiengesellschaft raised Tencent Music Entertainment Group from a "hold" rating to a "buy" rating in a research note on Wednesday, March 26th. Two analysts have rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target 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.