Sava Infond d.o.o. Takes Position in Tencent Music Entertainment Group (NYSE:TME)

Sava Infond d.o.o. purchased a new position in shares of Tencent Music Entertainment Group (NYSE:TME) during the 4th quarter, Holdings Channel reports. The institutional investor purchased 47,920 shares of the company’s stock, valued at approximately $544,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Wilmington Savings Fund Society FSB bought a new position in Tencent Music Entertainment Group during the 3rd quarter worth approximately $64,000. SBI Securities Co. Ltd. acquired a new stake in shares of Tencent Music Entertainment Group during the 4th quarter valued at approximately $110,000. Oppenheimer Asset Management Inc. bought a new position in Tencent Music Entertainment Group during the fourth quarter worth $114,000. PNC Financial Services Group Inc. boosted its holdings in Tencent Music Entertainment Group by 10.9% in the fourth quarter. PNC Financial Services Group Inc. now owns 11,138 shares of the company’s stock worth $126,000 after purchasing an additional 1,094 shares during the period. Finally, DRW Securities LLC bought a new stake in Tencent Music Entertainment Group during the third quarter valued at $169,000. 24.32% of the stock is owned by institutional investors.

Tencent Music Entertainment Group Price Performance

Shares of NYSE:TME opened at $14.73 on Friday. The firm’s 50 day moving average is $12.75 and its two-hundred day moving average is $11.92. The firm has a market capitalization of $25.28 billion, a P/E ratio of 27.28, a PEG ratio of 0.77 and a beta of 0.70. 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 52 week low of $9.41 and a 52 week high of $15.77.

Tencent Music Entertainment Group Increases Dividend

The firm also recently announced an annual dividend, which will be paid on Thursday, April 24th. Investors of record on Thursday, April 3rd will be given a $0.18 dividend. This is a boost from Tencent Music Entertainment Group’s previous annual dividend of $0.12. This represents a yield of 0.9%. The ex-dividend date is Thursday, April 3rd. Tencent Music Entertainment Group’s dividend payout ratio (DPR) is currently 30.51%.

Analyst Upgrades and Downgrades

TME has been the subject of several research reports. Morgan Stanley reaffirmed an “overweight” rating on shares of Tencent Music Entertainment Group in a report on Tuesday, March 18th. Mizuho lifted their target price 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 research report on Wednesday. Two investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus 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.