Tencent Music Entertainment Group – (NYSE:TME) saw unusually large options trading activity on Thursday. Investors acquired 14,568 put options on the company. This is an increase of 909% compared to the average volume of 1,444 put options.

Shares of NYSE:TME traded up $0.04 during midday trading on Friday, reaching $13.52. 13,339 shares of the company were exchanged, compared to its average volume of 8,257,099. Tencent Music Entertainment Group has a fifty-two week low of $11.27 and a fifty-two week high of $19.97. The stock has a fifty day simple moving average of $13.08 and a two-hundred day simple moving average of $13.18. The firm has a market cap of $22.01 billion, a PE ratio of 75.14, a P/E/G ratio of 0.97 and a beta of 2.17.

Tencent Music Entertainment Group (NYSE:TME) last issued its quarterly earnings data on Monday, November 11th. The company reported $0.74 EPS for the quarter, topping analysts’ consensus estimates of $0.08 by $0.66. Tencent Music Entertainment Group had a net margin of 8.77% and a return on equity of 6.11%. The business had revenue of $6.51 billion for the quarter, compared to analyst estimates of $6.43 billion. The firm’s revenue was up 31.0% on a year-over-year basis. As a group, analysts expect that Tencent Music Entertainment Group will post 0.36 earnings per share for the current year.

A number of equities analysts have recently weighed in on TME shares. Zacks Investment Research cut shares of Tencent Music Entertainment Group from a “hold” rating to a “sell” rating in a research report on Thursday, November 14th. New Street Research started coverage on shares of Tencent Music Entertainment Group in a research report on Friday, October 18th. They set a “buy” rating and a $16.00 price target on the stock. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and nine have issued a buy rating to the company’s stock. Tencent Music Entertainment Group presently has an average rating of “Buy” and a consensus target price of $16.98.

Several large investors have recently modified their holdings of TME. Honeycomb Asset Management LP raised its holdings in shares of Tencent Music Entertainment Group by 873.1% during the fourth quarter. Honeycomb Asset Management LP now owns 6,328,463 shares of the company’s stock worth $74,296,000 after acquiring an additional 5,678,153 shares during the period. Jefferies Group LLC acquired a new stake in Tencent Music Entertainment Group in the 4th quarter valued at $57,496,000. Coronation Fund Managers Ltd. acquired a new stake in Tencent Music Entertainment Group in the 4th quarter valued at $57,276,000. Credit Suisse AG increased its stake in Tencent Music Entertainment Group by 274.5% in the 4th quarter. Credit Suisse AG now owns 6,423,426 shares of the company’s stock valued at $75,411,000 after buying an additional 4,708,191 shares during the last quarter. Finally, D1 Capital Partners L.P. increased its stake in Tencent Music Entertainment Group by 19.7% in the 4th quarter. D1 Capital Partners L.P. now owns 23,350,000 shares of the company’s stock valued at $274,129,000 after buying an additional 3,850,000 shares during the last quarter. Institutional investors and hedge funds own 13.15% of the company’s stock.

Tencent Music Entertainment Group Company Profile

Tencent Music Entertainment Group operates an online music entertainment platform that provides online music and music-centric social entertainment services in China. It offers QQ Music, Kugou Music, and Kuwo Music that enable users to discover and listen to music in personalized ways; and WeSing, which enables users to have fun by singing and interacting with friends, sharing their singing performances with friends, and discovering songs that others have sung.

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