Stock Traders Buy High Volume of Tencent Music Entertainment Group Put Options (NYSE:TME)

Tencent Music Entertainment Group (NYSE:TME - Get Free Report) was the target of unusually large options trading activity on Monday. Stock investors bought 19,873 put options on the company. This represents an increase of 742% compared to the average daily volume of 2,361 put options.

Institutional Investors Weigh In On Tencent Music Entertainment Group

Hedge funds and other institutional investors have recently modified their holdings of the stock. PNC Financial Services Group Inc. grew its stake in Tencent Music Entertainment Group by 10.9% in the fourth quarter. PNC Financial Services Group Inc. now owns 11,138 shares of the company's stock worth $126,000 after purchasing an additional 1,094 shares in the last quarter. BNP Paribas raised its holdings in shares of Tencent Music Entertainment Group by 2.0% during the fourth quarter. BNP Paribas now owns 58,066 shares of the company's stock worth $659,000 after purchasing an additional 1,131 shares during the period. Corient Private Wealth LLC lifted its position in shares of Tencent Music Entertainment Group by 4.2% in the 4th quarter. Corient Private Wealth LLC now owns 33,708 shares of the company's stock worth $383,000 after buying an additional 1,370 shares during the last quarter. Intech Investment Management LLC boosted its holdings in shares of Tencent Music Entertainment Group by 9.1% in the 3rd quarter. Intech Investment Management LLC now owns 19,850 shares of the company's stock valued at $239,000 after buying an additional 1,664 shares during the period. Finally, Sumitomo Mitsui DS Asset Management Company Ltd grew its position in shares of Tencent Music Entertainment Group by 3.9% during the 4th quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 51,636 shares of the company's stock valued at $586,000 after buying an additional 1,923 shares during the last quarter. Institutional investors own 24.32% of the company's stock.

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Wall Street Analysts Forecast Growth

TME has been the topic of several recent analyst reports. Morgan Stanley raised shares of Tencent Music Entertainment Group from an "equal weight" rating to an "overweight" rating and set a $13.00 price objective on the stock in a research note on Tuesday, January 21st. Mizuho upped their price objective on shares of Tencent Music Entertainment Group from $16.00 to $17.00 and gave the company an "outperform" rating in a research note on Wednesday. Two equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company's stock. Based on data from MarketBeat.com, Tencent Music Entertainment Group presently has an average rating of "Moderate Buy" and a consensus target price of $15.00.

Tencent Music Entertainment Group Stock Down 2.0 %

TME stock traded down $0.29 during trading on Friday, reaching $14.00. The stock had a trading volume of 5,403,604 shares, compared to its average volume of 8,116,694. 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 firm has a fifty day moving average price of $12.36 and a 200 day moving average price of $11.78. The company has a market capitalization of $24.02 billion, a P/E ratio of 25.92, a PEG ratio of 0.77 and a beta of 0.70. Tencent Music Entertainment Group has a 1-year low of $9.41 and a 1-year high of $15.77.

Tencent Music Entertainment Group Increases Dividend

The firm also recently announced an annual dividend, which will be paid on Thursday, April 24th. Stockholders of record on Thursday, April 3rd will be paid a dividend of $0.18 per share. This is a boost from Tencent Music Entertainment Group's previous annual dividend of $0.12. This represents a dividend yield of 0.9%. The ex-dividend date of this dividend is Thursday, April 3rd. Tencent Music Entertainment Group's dividend payout ratio is 22.03%.

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.