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

Tencent Music Entertainment Group (NYSE:TME) was the recipient of unusually large options trading on Tuesday. Stock traders purchased 11,350 call options on the company. This represents an increase of 323% compared to the average volume of 2,685 call options.

Wall Street Analysts Forecast Growth

Separately, Morgan Stanley upgraded Tencent Music Entertainment Group from an “equal weight” rating to an “overweight” rating and set a $13.00 price target on the stock in a research note on Tuesday, January 21st. Three equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $14.04.

Hedge Funds Weigh In On Tencent Music Entertainment Group

Several large investors have recently made changes to their positions in TME. JPMorgan Chase & Co. lifted its position in shares of Tencent Music Entertainment Group by 558.2% in the fourth quarter. JPMorgan Chase & Co. now owns 11,773,523 shares of the company’s stock valued at $133,629,000 after acquiring an additional 9,984,690 shares in the last quarter. Artisan Partners Limited Partnership purchased a new position in shares of Tencent Music Entertainment Group in the fourth quarter valued at about $113,031,000. Norges Bank purchased a new position in shares of Tencent Music Entertainment Group in the fourth quarter valued at about $99,539,000. Mawer Investment Management Ltd. lifted its position in shares of Tencent Music Entertainment Group by 152.2% in the fourth quarter. Mawer Investment Management Ltd. now owns 11,467,410 shares of the company’s stock valued at $130,155,000 after acquiring an additional 6,919,574 shares in the last quarter. Finally, Cantillon Capital Management LLC lifted its position in shares of Tencent Music Entertainment Group by 39.9% in the third quarter. Cantillon Capital Management LLC now owns 18,456,585 shares of the company’s stock valued at $222,402,000 after acquiring an additional 5,265,783 shares in the last quarter. 24.32% of the stock is currently owned by hedge funds and other institutional investors.

Tencent Music Entertainment Group Price Performance

NYSE TME opened at $15.10 on Wednesday. The company has a market capitalization of $25.91 billion, a PE ratio of 27.96, a price-to-earnings-growth ratio of 0.77 and a beta of 0.70. 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 fifty day moving average is $12.22 and its 200 day moving average is $11.75. Tencent Music Entertainment Group has a fifty-two week low of $9.41 and a fifty-two week high of $15.77.

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.