Tencent Music Entertainment Group (NYSE:TME - Get Free Report) was the recipient of a significant increase in short interest in the month of March. As of March 15th, there was short interest totalling 29,380,000 shares, an increase of 27.6% from the February 28th total of 23,020,000 shares. Based on an average daily volume of 7,890,000 shares, the days-to-cover ratio is presently 3.7 days. Currently, 4.2% of the company's shares are sold short.
Institutional Trading of Tencent Music Entertainment Group
Several large investors have recently bought and sold shares of TME. Wilmington Savings Fund Society FSB bought a new position in shares of Tencent Music Entertainment Group in the 3rd quarter worth approximately $64,000. SBI Securities Co. Ltd. purchased a new stake in Tencent Music Entertainment Group in the fourth quarter worth $110,000. Oppenheimer Asset Management Inc. bought a new position in Tencent Music Entertainment Group in the fourth quarter worth $114,000. PNC Financial Services Group Inc. lifted its position in Tencent Music Entertainment Group by 10.9% during the fourth quarter. PNC Financial Services Group Inc. now owns 11,138 shares of the company's stock valued at $126,000 after buying an additional 1,094 shares during the period. Finally, Unigestion Holding SA bought a new stake in shares of Tencent Music Entertainment Group during the 4th quarter valued at $161,000. 24.32% of the stock is owned by institutional investors.
Tencent Music Entertainment Group Trading Down 1.1 %
NYSE TME traded down $0.16 during trading on Thursday, hitting $14.31. The company had a trading volume of 5,809,187 shares, compared to its average volume of 8,151,968. The company's fifty day moving average is $13.02 and its 200-day moving average is $12.07. Tencent Music Entertainment Group has a one year low of $9.41 and a one year high of $15.77. The company has a current ratio of 2.34, a quick ratio of 2.34 and a debt-to-equity ratio of 0.09. The company has a market cap of $24.56 billion, a price-to-earnings ratio of 26.50, a price-to-earnings-growth ratio of 0.77 and a beta of 0.70.
Tencent Music Entertainment Group Increases Dividend
The business also recently declared an annual dividend, which will be paid on Thursday, April 24th. Investors of record on Thursday, April 3rd will be paid a $0.18 dividend. This is an increase 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 is presently 28.81%.
Wall Street Analysts Forecast Growth
Several research analysts recently commented on TME shares. Deutsche Bank Aktiengesellschaft raised shares of Tencent Music Entertainment Group from a "hold" rating to a "buy" rating in a research note on Wednesday, March 26th. Morgan Stanley restated an "overweight" rating on shares of Tencent Music Entertainment Group in a research report on Tuesday, March 18th. Finally, Mizuho increased 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. Two analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $15.00.
Get Our Latest Stock Report on Tencent Music Entertainment Group
About Tencent Music Entertainment Group
(
Get Free Report)
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.
Recommended Stories
Before you consider Tencent Music Entertainment Group, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Tencent Music Entertainment Group wasn't on the list.
While Tencent Music Entertainment Group currently has a Moderate Buy rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
If a company's CEO, COO, and CFO were all selling shares of their stock, would you want to know? MarketBeat just compiled its list of the twelve stocks that corporate insiders are abandoning. Complete the form below to see which companies made the list.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
