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

Tencent Music Entertainment Group (NYSE:TME) was the target of unusually large options trading activity on Tuesday. Stock investors purchased 24,998 call options on the stock. This is an increase of 787% compared to the typical daily volume of 2,819 call options.

Tencent Music Entertainment Group Price Performance

Tencent Music Entertainment Group stock traded up $1.43 during mid-day trading on Tuesday, hitting $11.61. 10,170,223 shares of the company traded hands, compared to its average volume of 8,456,926. Tencent Music Entertainment Group has a one year low of $6.09 and a one year high of $15.77. The stock has a market cap of $19.92 billion, a price-to-earnings ratio of 24.63, a price-to-earnings-growth ratio of 0.70 and a beta of 0.65. 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 stock has a fifty day moving average price of $11.72 and a 200-day moving average price of $12.66.

Tencent Music Entertainment Group (NYSE:TME) last announced its quarterly earnings data on Tuesday, August 13th. The company reported $0.15 earnings per share for the quarter, missing analysts’ consensus estimates of $0.16 by ($0.01). The business had revenue of $985.00 million during the quarter, compared to the consensus estimate of $1 billion. Tencent Music Entertainment Group had a return on equity of 10.11% and a net margin of 20.35%. On average, equities analysts predict that Tencent Music Entertainment Group will post 0.63 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Tencent Music Entertainment Group

A number of hedge funds have recently made changes to their positions in TME. Aspex Management HK Ltd bought a new stake in shares of Tencent Music Entertainment Group in the 4th quarter worth approximately $81,542,000. Ninety One UK Ltd purchased a new position in shares of Tencent Music Entertainment Group in the second quarter worth $122,775,000. Hsbc Holdings PLC increased its stake in shares of Tencent Music Entertainment Group by 234.7% in the fourth quarter. Hsbc Holdings PLC now owns 10,116,989 shares of the company’s stock worth $91,012,000 after buying an additional 7,094,511 shares during the period. Goldman Sachs Group Inc. increased its stake in shares of Tencent Music Entertainment Group by 78.2% in the fourth quarter. Goldman Sachs Group Inc. now owns 13,871,935 shares of the company’s stock worth $124,986,000 after buying an additional 6,088,504 shares during the period. Finally, Acadian Asset Management LLC increased its stake in shares of Tencent Music Entertainment Group by 18,902.2% in the second quarter. Acadian Asset Management LLC now owns 4,468,752 shares of the company’s stock worth $62,765,000 after buying an additional 4,445,235 shares during the period. 24.32% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on the stock. Benchmark dropped their price target on shares of Tencent Music Entertainment Group from $19.00 to $15.00 and set a “buy” rating on the stock in a research report on Wednesday, August 14th. Mizuho dropped 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. Daiwa America lowered shares of Tencent Music Entertainment Group from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, August 13th. Bank of America dropped their price target on shares of Tencent Music Entertainment Group from $18.00 to $15.00 and set a “buy” rating on the stock in a research report on Wednesday, August 14th. Finally, Daiwa Capital Markets lowered shares of Tencent Music Entertainment Group from an “outperform” rating to a “neutral” rating in a research report on Tuesday, August 13th. Three research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to MarketBeat.com, Tencent Music Entertainment Group presently has a consensus rating of “Moderate Buy” and a consensus target price of $12.72.

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.