Traders Purchase High Volume of Put Options on Tencent Music Entertainment Group (NYSE:TME)

Tencent Music Entertainment Group (NYSE:TME) was the target of some unusual options trading activity on Monday. Stock investors acquired 19,873 put options on the company. This is an increase of approximately 742% compared to the typical volume of 2,361 put options.

Hedge Funds Weigh In On Tencent Music Entertainment Group

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

Analyst Ratings Changes

Separately, Morgan Stanley raised 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 report on Tuesday, January 21st. Three investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $14.04.

Tencent Music Entertainment Group Trading Up 5.1 %

Shares of NYSE TME traded up $0.64 during midday trading on Monday, reaching $13.19. 6,525,588 shares of the stock were exchanged, compared to its average volume of 8,061,522. The business has a 50-day simple moving average of $12.09 and a two-hundred day simple moving average of $11.70. The company has a market capitalization of $22.63 billion, a price-to-earnings ratio of 24.37, a P/E/G ratio of 0.77 and a beta of 0.70. Tencent Music Entertainment Group has a 12 month low of $9.41 and a 12 month high of $15.77. 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 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.