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

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

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in TME. Toronto Dominion Bank bought a new stake in shares of Tencent Music Entertainment Group in the 4th quarter valued at $286,000. GF Fund Management CO. LTD. bought a new stake in shares of Tencent Music Entertainment Group in the 4th quarter valued at $11,411,000. Burgundy Asset Management Ltd. increased its stake in shares of Tencent Music Entertainment Group by 30.3% in the 4th quarter. Burgundy Asset Management Ltd. now owns 41,980 shares of the company’s stock valued at $476,000 after acquiring an additional 9,755 shares in the last quarter. Vise Technologies Inc. bought a new stake in shares of Tencent Music Entertainment Group in the 4th quarter valued at $169,000. Finally, Vident Advisory LLC increased its stake in shares of Tencent Music Entertainment Group by 23.0% in the 4th quarter. Vident Advisory LLC now owns 18,889 shares of the company’s stock valued at $214,000 after acquiring an additional 3,538 shares in the last quarter. Institutional investors own 24.32% of the company’s stock.

Tencent Music Entertainment Group Stock Up 15.6 %

NYSE:TME opened at $15.10 on Wednesday. The company has a debt-to-equity ratio of 0.09, a current ratio of 2.34 and a quick ratio of 2.34. Tencent Music Entertainment Group has a one year low of $9.41 and a one year high of $15.77. The firm’s 50 day simple moving average is $12.22 and its 200 day simple moving average is $11.75. The company has a market cap of $25.91 billion, a PE ratio of 27.96, a P/E/G ratio of 0.77 and a beta of 0.70.

Analyst Ratings Changes

Separately, Morgan Stanley upgraded shares of Tencent Music Entertainment Group from an “equal weight” rating to an “overweight” rating and set a $13.00 target price for the company in a report on Tuesday, January 21st. Three analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat, Tencent Music Entertainment Group presently has a consensus rating of “Moderate Buy” and a consensus price target of $14.04.

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.