Tencent Music Entertainment Group Sees Unusually High Options Volume (NYSE:TME)

Tencent Music Entertainment Group (NYSE:TME - Get Free Report) was the recipient of some unusual options trading activity on Wednesday. Stock traders bought 11,599 call options on the stock. This represents an increase of 186% compared to the average daily volume of 4,058 call options.

Institutional Investors Weigh In On Tencent Music Entertainment Group

A number of institutional investors and hedge funds have recently made changes to their positions in TME. Capital Wealth Planning LLC bought a new stake in shares of Tencent Music Entertainment Group during the 1st quarter worth about $2,588,000. Progeny 3 Inc. bought a new position in shares of Tencent Music Entertainment Group in the second quarter worth about $11,436,000. Swedbank AB acquired a new stake in shares of Tencent Music Entertainment Group during the 1st quarter valued at $1,980,000. Russell Investments Group Ltd. grew its holdings in Tencent Music Entertainment Group by 102.8% during the 1st quarter. Russell Investments Group Ltd. now owns 707,683 shares of the company's stock worth $7,919,000 after acquiring an additional 358,694 shares during the last quarter. Finally, Sumitomo Mitsui Trust Holdings Inc. increased its holdings in Tencent Music Entertainment Group by 12.0% in the first quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 1,900,511 shares of the company's stock valued at $21,267,000 after purchasing an additional 203,224 shares during the period. Institutional investors own 24.32% of the company's stock.

Tencent Music Entertainment Group Trading Down 0.9 %

NYSE:TME traded down $0.11 on Wednesday, reaching $11.62. The company's stock had a trading volume of 6,375,892 shares, compared to its average volume of 8,632,315. The company has a debt-to-equity ratio of 0.09, a quick ratio of 2.34 and a current ratio of 2.34. The business's 50-day moving average price is $11.34 and its two-hundred day moving average price is $12.86. Tencent Music Entertainment Group has a 1-year low of $6.76 and a 1-year high of $15.77. The firm has a market cap of $19.94 billion, a PE ratio of 23.24, a PEG ratio of 0.83 and a beta of 0.67.

Tencent Music Entertainment Group (NYSE:TME - Get Free Report) last posted its quarterly earnings data on Tuesday, August 13th. The company reported $0.15 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.16 by ($0.01). Tencent Music Entertainment Group had a return on equity of 10.11% and a net margin of 20.35%. The firm had revenue of $985.00 million for the quarter, compared to the consensus estimate of $1 billion. Equities research analysts anticipate that Tencent Music Entertainment Group will post 0.63 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on TME shares. Daiwa Capital Markets cut Tencent Music Entertainment Group from an "outperform" rating to a "neutral" rating in a research report on Tuesday, August 13th. Morgan Stanley lowered shares of Tencent Music Entertainment Group from an "overweight" rating to an "equal weight" rating and dropped their price objective for the stock from $15.00 to $13.00 in a report on Wednesday, September 25th. Daiwa America lowered Tencent Music Entertainment Group from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, August 13th. Mizuho reduced their price target on shares of Tencent Music Entertainment Group from $17.00 to $16.00 and set an "outperform" rating on the stock in a research report on Wednesday, August 14th. Finally, Sanford C. Bernstein began coverage on Tencent Music Entertainment Group in a research report on Monday. They set an "outperform" rating and a $14.00 target price for the company. Four investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $13.03.

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.