Tencent Music Entertainment Group Target of Unusually Large Options Trading (NYSE:TME)

Tencent Music Entertainment Group (NYSE:TME) was the recipient of some unusual options trading activity on Tuesday. Investors bought 24,998 call options on the company. This represents an increase of approximately 787% compared to the average volume of 2,819 call options.

Tencent Music Entertainment Group Price Performance

NYSE TME opened at $11.27 on Thursday. The stock has a market capitalization of $19.34 billion, a price-to-earnings ratio of 24.94, a PEG ratio of 0.76 and a beta of 0.65. Tencent Music Entertainment Group has a 1-year low of $6.09 and a 1-year high of $15.77. 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 business’s fifty day moving average price is $11.66 and its 200-day moving average price is $12.67.

Tencent Music Entertainment Group (NYSE:TME) last posted its earnings results on Tuesday, August 13th. The company reported $0.15 earnings per share for the quarter, missing analysts’ consensus estimates of $0.16 by ($0.01). The firm had revenue of $985.00 million during the quarter, compared to the consensus estimate of $1 billion. Tencent Music Entertainment Group had a net margin of 20.35% and a return on equity of 10.11%. On average, equities analysts predict that Tencent Music Entertainment Group will post 0.63 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on TME. Mizuho reduced their price objective on Tencent Music Entertainment Group from $17.00 to $16.00 and set an “outperform” rating for the company in a research report on Wednesday, August 14th. Morgan Stanley downgraded Tencent Music Entertainment Group from an “overweight” rating to an “equal weight” rating and reduced their price target for the company from $15.00 to $13.00 in a report on Wednesday. Daiwa Capital Markets lowered Tencent Music Entertainment Group from an “outperform” rating to a “neutral” rating in a research report on Tuesday, August 13th. Benchmark cut their price objective on shares of Tencent Music Entertainment Group from $19.00 to $15.00 and set a “buy” rating on the stock in a research report on Wednesday, August 14th. Finally, Daiwa America cut shares of Tencent Music Entertainment Group from a “strong-buy” rating to a “hold” rating in a report on Tuesday, August 13th. Four equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $12.67.

Hedge Funds Weigh In On Tencent Music Entertainment Group

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Aspex Management HK Ltd purchased a new position in Tencent Music Entertainment Group during the fourth quarter valued at $81,542,000. Ninety One UK Ltd bought a new position in shares of Tencent Music Entertainment Group during the 2nd quarter valued at approximately $122,775,000. Hsbc Holdings PLC grew its stake in shares of Tencent Music Entertainment Group by 234.7% during the 4th quarter. Hsbc Holdings PLC now owns 10,116,989 shares of the company’s stock valued at $91,012,000 after acquiring an additional 7,094,511 shares during the period. Goldman Sachs Group Inc. increased its holdings in Tencent Music Entertainment Group by 78.2% in the 4th quarter. Goldman Sachs Group Inc. now owns 13,871,935 shares of the company’s stock worth $124,986,000 after acquiring an additional 6,088,504 shares in the last quarter. Finally, Acadian Asset Management LLC raised its stake in Tencent Music Entertainment Group by 18,902.2% during the 2nd quarter. Acadian Asset Management LLC now owns 4,468,752 shares of the company’s stock worth $62,765,000 after acquiring an additional 4,445,235 shares during the period. Hedge funds and other institutional investors own 24.32% of the company’s stock.

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.