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

Tencent Music Entertainment Group (NYSE:TME) was the recipient of some unusual options trading activity on Tuesday. Stock traders acquired 11,350 call options on the stock. This represents an increase of approximately 323% compared to the average volume of 2,685 call options.

Analysts Set New Price Targets

Separately, Morgan Stanley raised 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 research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. 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.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in TME. Wilmington Savings Fund Society FSB bought a new position in Tencent Music Entertainment Group during the third quarter worth $64,000. Avior Wealth Management LLC boosted its holdings in shares of Tencent Music Entertainment Group by 253.8% during the 3rd quarter. Avior Wealth Management LLC now owns 5,675 shares of the company’s stock worth $68,000 after buying an additional 4,071 shares during the period. SBI Securities Co. Ltd. acquired a new position in Tencent Music Entertainment Group in the 4th quarter valued at about $110,000. Oppenheimer Asset Management Inc. bought a new position in Tencent Music Entertainment Group in the 4th quarter valued at about $114,000. Finally, PNC Financial Services Group Inc. lifted its position in Tencent Music Entertainment Group by 10.9% during the fourth quarter. PNC Financial Services Group Inc. now owns 11,138 shares of the company’s stock worth $126,000 after acquiring an additional 1,094 shares during the last quarter. Institutional investors and hedge funds own 24.32% of the company’s stock.

Tencent Music Entertainment Group Trading Up 12.4 %

Tencent Music Entertainment Group stock traded up $1.62 during mid-day trading on Tuesday, hitting $14.68. The stock had a trading volume of 22,317,083 shares, compared to its average volume of 8,142,850. The stock has a 50-day simple moving average of $12.13 and a two-hundred day simple moving average of $11.71. Tencent Music Entertainment Group has a 12 month low of $9.41 and a 12 month high of $15.77. The stock has a market capitalization of $25.20 billion, a PE ratio of 27.21, a P/E/G ratio of 0.77 and a beta of 0.70. The company has a current ratio of 2.34, a quick ratio of 2.34 and a debt-to-equity ratio of 0.09.

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.