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 on Thursday. Stock investors purchased 12,971 call options on the company. This represents an increase of approximately 234% compared to the average daily volume of 3,885 call options.

Institutional Trading of Tencent Music Entertainment Group

Several institutional investors have recently made changes to their positions in TME. Vanguard Group Inc. grew its holdings in Tencent Music Entertainment Group by 0.3% during the 1st quarter. Vanguard Group Inc. now owns 25,057,674 shares of the company’s stock valued at $280,395,000 after buying an additional 84,131 shares in the last quarter. Goldman Sachs Group Inc. grew its holdings in Tencent Music Entertainment Group by 78.2% during the 4th quarter. Goldman Sachs Group Inc. now owns 13,871,935 shares of the company’s stock valued at $124,986,000 after buying an additional 6,088,504 shares in the last quarter. Norges Bank purchased a new position in Tencent Music Entertainment Group during the 4th quarter valued at approximately $105,328,000. Wellington Management Group LLP grew its holdings in Tencent Music Entertainment Group by 65.3% during the 3rd quarter. Wellington Management Group LLP now owns 10,928,746 shares of the company’s stock valued at $69,725,000 after buying an additional 4,317,720 shares in the last quarter. Finally, Hsbc Holdings PLC grew its holdings in Tencent Music Entertainment Group by 234.7% during the 4th quarter. Hsbc Holdings PLC now owns 10,116,989 shares of the company’s stock valued at $91,012,000 after buying an additional 7,094,511 shares in the last quarter. Hedge funds and other institutional investors own 24.32% of the company’s stock.

Tencent Music Entertainment Group Stock Performance

Shares of NYSE:TME traded up $0.15 during midday trading on Friday, reaching $15.13. 6,061,931 shares of the company’s stock traded hands, compared to its average volume of 8,283,429. The company has a market cap of $25.96 billion, a price-to-earnings ratio of 32.67, a P/E/G ratio of 1.13 and a beta of 0.68. The company has a debt-to-equity ratio of 0.09, a quick ratio of 2.67 and a current ratio of 2.67. Tencent Music Entertainment Group has a one year low of $5.70 and a one year high of $15.77. The stock has a 50 day moving average of $14.47 and a 200 day moving average of $11.74.

Tencent Music Entertainment Group (NYSE:TME) last posted its earnings results on Monday, May 13th. The company reported $0.14 earnings per share for the quarter, beating analysts’ consensus estimates of $0.13 by $0.01. Tencent Music Entertainment Group had a return on equity of 9.85% and a net margin of 18.88%. The company had revenue of $937.00 million for the quarter, compared to the consensus estimate of $904.29 million. As a group, equities research analysts anticipate that Tencent Music Entertainment Group will post 0.62 EPS for the current fiscal year.

Tencent Music Entertainment Group Announces Dividend

The firm also recently announced an annual dividend, which was paid on Thursday, June 27th. Investors of record on Friday, May 31st were given a dividend of $0.121 per share. This represents a dividend yield of 0.78%. The ex-dividend date of this dividend was Friday, May 31st. Tencent Music Entertainment Group’s dividend payout ratio is currently 28.26%.

Analyst Ratings Changes

A number of research firms recently weighed in on TME. The Goldman Sachs Group upgraded Tencent Music Entertainment Group from a “neutral” rating to a “buy” rating and set a $14.00 target price for the company in a research report on Wednesday, March 20th. Bank of America boosted their target price on Tencent Music Entertainment Group from $10.50 to $12.30 and gave the stock a “buy” rating in a research report on Wednesday, March 20th. Mizuho boosted their price objective on Tencent Music Entertainment Group from $13.00 to $15.00 and gave the company a “buy” rating in a research report on Friday, May 10th. Morgan Stanley boosted their price objective on Tencent Music Entertainment Group from $11.00 to $13.50 and gave the company an “overweight” rating in a research report on Wednesday, March 20th. Finally, HSBC boosted their price objective on Tencent Music Entertainment Group from $9.50 to $10.40 and gave the company a “hold” rating in a research report on Wednesday, March 20th. One investment analyst has rated the stock with a hold rating and ten have issued a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $12.75.

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.