Paradice Investment Management LLC Takes $5.21 Million Position in Tencent Music Entertainment Group (NYSE:TME)

Paradice Investment Management LLC bought 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 Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 578,278 shares of the company's stock, valued at approximately $5,210,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in TME. Tobam purchased a new position in shares of Tencent Music Entertainment Group during the 4th quarter worth approximately $36,000. Headinvest LLC acquired a new stake in shares of Tencent Music Entertainment Group in the third quarter valued at $39,000. Lindbrook Capital LLC grew its stake in shares of Tencent Music Entertainment Group by 40.9% in the fourth quarter. Lindbrook Capital LLC now owns 7,036 shares of the company's stock valued at $63,000 after buying an additional 2,044 shares in the last quarter. GABELLI & Co INVESTMENT ADVISERS INC. purchased a new stake in shares of Tencent Music Entertainment Group in the 3rd quarter valued at $64,000. Finally, QRG Capital Management Inc. acquired a new position in Tencent Music Entertainment Group during the 3rd quarter worth about $75,000. Institutional investors and hedge funds own 24.32% of the company's stock.

Analysts Set New Price Targets

TME has been the topic of several research reports. Morgan Stanley increased their price target on shares of Tencent Music Entertainment Group from $11.00 to $13.50 and gave the stock an "overweight" rating in a research report on Wednesday, March 20th. HSBC upped their price objective on Tencent Music Entertainment Group from $9.50 to $10.40 and gave the stock a "hold" rating in a research report on Wednesday, March 20th. The Goldman Sachs Group upgraded Tencent Music Entertainment Group from a "neutral" rating to a "buy" rating and set a $14.00 target price for the company in a report on Wednesday, March 20th. UBS Group upgraded Tencent Music Entertainment Group from a "neutral" rating to a "buy" rating and set a $10.50 price target on the stock in a report on Wednesday, January 24th. Finally, Benchmark lifted their price objective on Tencent Music Entertainment Group from $14.00 to $19.00 and gave the company a "buy" rating in a research note on Tuesday. One investment analyst has rated the stock with a hold rating and ten have issued a buy rating to the company. According to data from MarketBeat, Tencent Music Entertainment Group presently has a consensus rating of "Moderate Buy" and an average price target of $12.75.

Tencent Music Entertainment Group Stock Down 0.5 %

Tencent Music Entertainment Group stock traded down $0.07 during mid-day trading on Friday, hitting $15.42. The company had a trading volume of 7,987,619 shares, compared to its average volume of 8,164,511. The stock has a market cap of $26.46 billion, a price-to-earnings ratio of 33.52, a PEG ratio of 0.95 and a beta of 0.77. The company has a quick ratio of 2.49, a current ratio of 2.67 and a debt-to-equity ratio of 0.09. Tencent Music Entertainment Group has a 1 year low of $5.70 and a 1 year high of $15.77. The business has a fifty day moving average of $12.09 and a 200 day moving average of $10.04.

Tencent Music Entertainment Group (NYSE:TME - Get Free Report) last posted its earnings results on Tuesday, March 19th. The company reported $0.13 EPS for the quarter, beating analysts' consensus estimates of $0.12 by $0.01. Tencent Music Entertainment Group had a net margin of 18.88% and a return on equity of 9.85%. The firm had revenue of $971.00 million for the quarter, compared to the consensus estimate of $925.06 million. On average, sell-side analysts expect that Tencent Music Entertainment Group will post 0.58 earnings per share for the current fiscal year.

Tencent Music Entertainment Group Dividend Announcement

The company also recently announced an annual dividend, which will be paid on Thursday, June 27th. Stockholders of record on Friday, May 31st will be issued a $0.121 dividend. This represents a dividend yield of 0.78%. The ex-dividend date of this dividend is Friday, May 31st. Tencent Music Entertainment Group's payout ratio is currently 30.44%.

Tencent Music Entertainment Group Company 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; and WeSing, which enables users to sing from its library of karaoke songs and share their performances in audio or video formats with friends.