Tencent Music Entertainment Group (NYSE:TME) Holdings Trimmed by Fox Run Management L.L.C.

Fox Run Management L.L.C. cut its holdings in Tencent Music Entertainment Group (NYSE:TME) by 18.7% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 15,389 shares of the company’s stock after selling 3,545 shares during the quarter. Fox Run Management L.L.C.’s holdings in Tencent Music Entertainment Group were worth $175,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently bought and sold shares of TME. Wilmington Savings Fund Society FSB bought a new stake in shares of Tencent Music Entertainment Group in the 3rd quarter worth approximately $64,000. SBI Securities Co. Ltd. bought a new position in shares of Tencent Music Entertainment Group in the fourth quarter valued at $110,000. Oppenheimer Asset Management Inc. acquired a new stake in shares of Tencent Music Entertainment Group during the 4th quarter valued at $114,000. PNC Financial Services Group Inc. boosted its stake in shares of Tencent Music Entertainment Group by 10.9% during the 4th quarter. PNC Financial Services Group Inc. now owns 11,138 shares of the company’s stock worth $126,000 after acquiring an additional 1,094 shares in the last quarter. Finally, MML Investors Services LLC acquired a new position in shares of Tencent Music Entertainment Group in the 3rd quarter worth $170,000. 24.32% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research firms recently weighed in on TME. Morgan Stanley reiterated an “overweight” rating on shares of Tencent Music Entertainment Group in a research report on Tuesday, March 18th. Mizuho raised their target price on shares of Tencent Music Entertainment Group from $16.00 to $17.00 and gave the stock an “outperform” rating in a report on Wednesday, March 19th. Finally, Deutsche Bank Aktiengesellschaft upgraded shares of Tencent Music Entertainment Group from a “hold” rating to a “buy” rating in a report on Wednesday. Two analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $15.00.

Tencent Music Entertainment Group Price Performance

Shares of TME opened at $14.36 on Friday. The business’s 50-day moving average is $12.82 and its 200-day moving average is $11.95. The company has a debt-to-equity ratio of 0.09, a current ratio of 2.34 and a quick ratio of 2.34. The company has a market capitalization of $24.63 billion, a price-to-earnings ratio of 26.58, a P/E/G ratio of 0.77 and a beta of 0.70. Tencent Music Entertainment Group has a fifty-two week low of $9.41 and a fifty-two week high of $15.77.

Tencent Music Entertainment Group Increases Dividend

The business also recently disclosed an annual dividend, which will be paid on Thursday, April 24th. Shareholders of record on Thursday, April 3rd will be paid a $0.18 dividend. This represents a yield of 0.9%. The ex-dividend date is Thursday, April 3rd. This is a positive change from Tencent Music Entertainment Group’s previous annual dividend of $0.12. Tencent Music Entertainment Group’s dividend payout ratio is currently 30.51%.

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.