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

Tencent Music Entertainment Group (NYSE:TME) was the recipient of unusually large options trading activity on Monday. Investors bought 19,873 put options on the company. This represents an increase of approximately 742% compared to the typical volume of 2,361 put options.

Tencent Music Entertainment Group Price Performance

Shares of NYSE TME traded up $0.64 during mid-day trading on Monday, hitting $13.19. 6,525,588 shares of the stock were exchanged, compared to its average volume of 8,061,522. The company has a market cap of $22.63 billion, a P/E ratio of 24.37, a PEG ratio of 0.77 and a beta of 0.70. The stock’s fifty day simple moving average is $12.09 and its two-hundred day simple moving average is $11.70. The company has a debt-to-equity ratio of 0.09, a quick ratio of 2.34 and a current ratio of 2.34. Tencent Music Entertainment Group has a twelve month low of $9.41 and a twelve month high of $15.77.

Institutional Trading of Tencent Music Entertainment Group

Several hedge funds have recently modified their holdings of TME. Crossmark Global Holdings Inc. increased its holdings in shares of Tencent Music Entertainment Group by 30.7% during the third quarter. Crossmark Global Holdings Inc. now owns 38,460 shares of the company’s stock worth $464,000 after buying an additional 9,036 shares in the last quarter. KBC Group NV increased its holdings in shares of Tencent Music Entertainment Group by 889.3% in the third quarter. KBC Group NV now owns 329,713 shares of the company’s stock valued at $3,973,000 after purchasing an additional 296,385 shares in the last quarter. Vaughan Nelson Investment Management L.P. increased its holdings in shares of Tencent Music Entertainment Group by 38.3% in the third quarter. Vaughan Nelson Investment Management L.P. now owns 78,083 shares of the company’s stock valued at $941,000 after purchasing an additional 21,620 shares in the last quarter. WIM INVESTMENT MANAGEMENT Ltd acquired a new stake in shares of Tencent Music Entertainment Group in the third quarter valued at approximately $4,630,000. Finally, Thrivent Financial for Lutherans increased its holdings in shares of Tencent Music Entertainment Group by 31.7% in the third quarter. Thrivent Financial for Lutherans now owns 15,550 shares of the company’s stock valued at $187,000 after purchasing an additional 3,746 shares in the last quarter. Institutional investors and hedge funds own 24.32% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, Morgan Stanley upgraded 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 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. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $14.04.

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.