Investors Buy High Volume of Put Options on Tencent Music Entertainment Group (NYSE:TME)
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.
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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