Tencent Music Entertainment Group Target of Unusually High Options Trading (NYSE:TME)

Tencent Music Entertainment Group (NYSE:TMEGet Rating) was the target of some unusual options trading activity on Tuesday. Investors acquired 8,857 call options on the stock. This is an increase of approximately 146% compared to the average volume of 3,600 call options.

Tencent Music Entertainment Group Price Performance

Tencent Music Entertainment Group stock opened at $5.81 on Wednesday. Tencent Music Entertainment Group has a 52 week low of $2.95 and a 52 week high of $8.70. The company’s 50 day moving average price is $4.17 and its two-hundred day moving average price is $4.36. The company has a quick ratio of 2.33, a current ratio of 2.33 and a debt-to-equity ratio of 0.11. The stock has a market cap of $9.85 billion, a P/E ratio of 22.35, a P/E/G ratio of 0.84 and a beta of 0.63.

Tencent Music Entertainment Group (NYSE:TMEGet Rating) last posted its earnings results on Monday, August 15th. The company reported $0.07 EPS for the quarter, hitting the consensus estimate of $0.07. Tencent Music Entertainment Group had a net margin of 9.43% and a return on equity of 6.10%. The firm had revenue of $1.03 billion for the quarter, compared to analysts’ expectations of $1.02 billion. On average, equities analysts predict that Tencent Music Entertainment Group will post 0.3 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Separately, The Goldman Sachs Group dropped their price target on shares of Tencent Music Entertainment Group from $5.40 to $4.40 in a research report on Sunday, November 6th.

Hedge Funds Weigh In On Tencent Music Entertainment Group

Hedge funds have recently modified their holdings of the company. Activest Wealth Management bought a new position in shares of Tencent Music Entertainment Group during the 3rd quarter worth approximately $28,000. Boothbay Fund Management LLC purchased a new stake in shares of Tencent Music Entertainment Group during the 3rd quarter worth approximately $46,000. Founders Financial Securities LLC purchased a new stake in shares of Tencent Music Entertainment Group during the 2nd quarter worth approximately $50,000. Cerity Partners LLC purchased a new stake in shares of Tencent Music Entertainment Group during the 2nd quarter worth approximately $51,000. Finally, HighTower Advisors LLC purchased a new stake in shares of Tencent Music Entertainment Group during the 1st quarter worth approximately $51,000. Institutional investors own 22.62% of the company’s stock.

Tencent Music Entertainment Group Company Profile

(Get Rating)

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 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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