SIH Partners LLLP Acquires 33,000 Shares of Tencent Music Entertainment Group (NYSE:TME)

SIH Partners LLLP boosted its position in shares of Tencent Music Entertainment Group (NYSE:TME - Free Report) by 18.7% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 209,700 shares of the company's stock after purchasing an additional 33,000 shares during the period. SIH Partners LLLP's holdings in Tencent Music Entertainment Group were worth $2,380,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. MML Investors Services LLC acquired a new position in shares of Tencent Music Entertainment Group in the third quarter valued at approximately $170,000. Barclays PLC increased its position in Tencent Music Entertainment Group by 5.8% in the 3rd quarter. Barclays PLC now owns 762,650 shares of the company's stock valued at $9,189,000 after acquiring an additional 41,990 shares during the period. Geode Capital Management LLC increased its position in Tencent Music Entertainment Group by 2.2% in the 3rd quarter. Geode Capital Management LLC now owns 4,303,518 shares of the company's stock valued at $51,405,000 after acquiring an additional 93,719 shares during the period. Wilmington Savings Fund Society FSB acquired a new position in Tencent Music Entertainment Group in the 3rd quarter valued at about $64,000. Finally, Tidal Investments LLC boosted its holdings in Tencent Music Entertainment Group by 28.9% in the 3rd quarter. Tidal Investments LLC now owns 116,068 shares of the company's stock valued at $1,399,000 after purchasing an additional 26,004 shares in the last quarter. 24.32% of the stock is owned by hedge funds and other institutional investors.

Tencent Music Entertainment Group Stock Up 0.4 %

Shares of Tencent Music Entertainment Group stock traded up $0.05 during midday trading on Friday, hitting $13.35. The company's stock had a trading volume of 4,009,834 shares, compared to its average volume of 8,327,168. The firm has a market capitalization of $22.91 billion, a P/E 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 company has a quick ratio of 2.34, a current ratio of 2.34 and a debt-to-equity ratio of 0.09. The stock has a 50-day simple moving average of $13.17 and a 200-day simple moving average of $12.20.

Tencent Music Entertainment Group Increases Dividend

The company also recently disclosed an annual dividend, which was paid on Thursday, April 24th. Investors of record on Thursday, April 3rd were given a dividend of $0.18 per share. This is a boost from Tencent Music Entertainment Group's previous annual dividend of $0.12. The ex-dividend date was Thursday, April 3rd. This represents a yield of 0.9%. Tencent Music Entertainment Group's dividend payout ratio (DPR) is presently 28.81%.

Analyst Ratings Changes

Several equities research analysts have recently commented on TME shares. Morgan Stanley reissued an "overweight" rating on shares of Tencent Music Entertainment Group in a research note on Tuesday, March 18th. Nomura Securities upgraded Tencent Music Entertainment Group to a "strong-buy" rating in a report on Tuesday, April 8th. Mizuho lifted their price objective on Tencent Music Entertainment Group from $16.00 to $17.00 and gave the company an "outperform" rating in a research note on Wednesday, March 19th. Finally, Deutsche Bank Aktiengesellschaft upgraded Tencent Music Entertainment Group from a "hold" rating to a "buy" rating in a report on Wednesday, March 26th. Two investment analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has assigned 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 an average price target of $15.00.

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; 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.