Investors Buy Large Volume of Call Options on Tencent Music Entertainment Group (NYSE:TME)

Tencent Music Entertainment Group (NYSE:TME) saw some unusual options trading activity on Tuesday. Stock investors purchased 11,350 call options on the company. This is an increase of 323% compared to the typical volume of 2,685 call options.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on TME shares. Morgan Stanley raised Tencent Music Entertainment Group from an “equal weight” rating to an “overweight” rating and set a $13.00 price target on the stock in a research note on Tuesday, January 21st. Mizuho upped their target price on Tencent Music Entertainment Group from $16.00 to $17.00 and gave the company an “outperform” rating in a report on Wednesday. Three analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $14.16.

Tencent Music Entertainment Group Stock Down 2.5 %

TME opened at $14.71 on Thursday. The business’s fifty day simple moving average is $12.29 and its 200 day simple moving average is $11.77. Tencent Music Entertainment Group has a 52 week low of $9.41 and a 52 week high of $15.77. The firm has a market cap of $25.24 billion, a P/E ratio of 27.23, a PEG ratio of 0.77 and a beta of 0.70. The company has a quick ratio of 2.34, a current ratio of 2.34 and a debt-to-equity ratio of 0.09.

Tencent Music Entertainment Group Increases Dividend

The company also recently declared an annual dividend, which will be paid on Thursday, April 24th. Stockholders of record on Thursday, April 3rd will be issued a dividend of $0.18 per share. The ex-dividend date of this dividend is Thursday, April 3rd. This is an increase from Tencent Music Entertainment Group’s previous annual dividend of $0.12. This represents a dividend yield of 0.9%. Tencent Music Entertainment Group’s payout ratio is 22.03%.

Hedge Funds Weigh In On Tencent Music Entertainment Group

Several institutional investors and hedge funds have recently modified their holdings of TME. Bank of Montreal Can raised its holdings in Tencent Music Entertainment Group by 86.0% in the 3rd quarter. Bank of Montreal Can now owns 181,991 shares of the company’s stock valued at $2,235,000 after acquiring an additional 84,161 shares during the last quarter. BNP Paribas Financial Markets increased its stake in Tencent Music Entertainment Group by 33.6% in the third quarter. BNP Paribas Financial Markets now owns 1,911,048 shares of the company’s stock valued at $23,028,000 after purchasing an additional 480,504 shares during the last quarter. Nordea Investment Management AB lifted its position in Tencent Music Entertainment Group by 9.5% during the fourth quarter. Nordea Investment Management AB now owns 1,464,366 shares of the company’s stock worth $16,738,000 after buying an additional 127,561 shares during the period. Oppenheimer Asset Management Inc. acquired a new stake in Tencent Music Entertainment Group in the 4th quarter worth about $114,000. Finally, Principal Financial Group Inc. grew its holdings in Tencent Music Entertainment Group by 4.0% in the 3rd quarter. Principal Financial Group Inc. now owns 5,478,297 shares of the company’s stock valued at $66,013,000 after buying an additional 211,873 shares during the period. Hedge funds and other institutional investors own 24.32% of the company’s stock.

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.