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

Tencent Music Entertainment Group (NYSE:TME - Get Free Report) was the recipient of some unusual options trading activity on Tuesday. Investors bought 11,350 call options on the company. This represents an increase of approximately 323% compared to the average volume of 2,685 call options.

Institutional Investors Weigh In On Tencent Music Entertainment Group

Several institutional investors and hedge funds have recently added to or reduced their stakes in TME. Schroder Investment Management Group lifted its holdings in shares of Tencent Music Entertainment Group by 6.7% during the 4th quarter. Schroder Investment Management Group now owns 63,064,552 shares of the company's stock valued at $715,783,000 after buying an additional 3,987,116 shares during the period. Vanguard Group Inc. grew its stake in shares of Tencent Music Entertainment Group by 1.1% during the 4th quarter. Vanguard Group Inc. now owns 29,588,812 shares of the company's stock valued at $335,833,000 after acquiring an additional 332,264 shares during the period. Cantillon Capital Management LLC lifted its holdings in Tencent Music Entertainment Group by 18.3% during the fourth quarter. Cantillon Capital Management LLC now owns 21,840,815 shares of the company's stock valued at $247,893,000 after purchasing an additional 3,384,230 shares in the last quarter. Krane Funds Advisors LLC boosted its position in shares of Tencent Music Entertainment Group by 21.8% in the fourth quarter. Krane Funds Advisors LLC now owns 19,855,951 shares of the company's stock worth $225,365,000 after purchasing an additional 3,560,452 shares during the period. Finally, State Street Corp increased its stake in shares of Tencent Music Entertainment Group by 1.3% in the third quarter. State Street Corp now owns 12,821,488 shares of the company's stock worth $154,499,000 after purchasing an additional 166,225 shares in the last quarter. Hedge funds and other institutional investors own 24.32% of the company's stock.

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Tencent Music Entertainment Group Stock Performance

NYSE TME traded down $0.29 during trading hours on Friday, hitting $14.00. The company's stock had a trading volume of 5,403,604 shares, compared to its average volume of 8,094,640. The company's 50 day simple moving average is $12.43 and its two-hundred day simple moving average is $11.82. 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 cap of $24.02 billion, a P/E ratio of 25.92, a price-to-earnings-growth ratio of 0.77 and a beta of 0.70. Tencent Music Entertainment Group has a 12 month low of $9.41 and a 12 month 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. Investors of record on Thursday, April 3rd will be given a dividend of $0.18 per share. This is an increase from Tencent Music Entertainment Group's previous annual dividend of $0.12. The ex-dividend date is Thursday, April 3rd. This represents a yield of 0.9%. Tencent Music Entertainment Group's dividend payout ratio is 22.03%.

Analysts Set New Price Targets

A number of research analysts recently issued reports on the stock. Morgan Stanley raised shares of Tencent Music Entertainment Group from an "equal weight" rating to an "overweight" rating and set a $13.00 price target for the company in a research report on Tuesday, January 21st. Mizuho boosted their price target on Tencent Music Entertainment Group from $16.00 to $17.00 and gave the stock an "outperform" rating in a research report on Wednesday. Two equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to MarketBeat.com, Tencent Music Entertainment Group presently has a consensus rating of "Moderate Buy" and an average target price of $15.00.

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.