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

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

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on the stock. Morgan Stanley upgraded shares of Tencent Music Entertainment Group from an “equal weight” rating to an “overweight” rating and set a $13.00 target price on the stock in a research report on Tuesday, January 21st. Mizuho raised their price objective on shares of Tencent Music Entertainment Group from $16.00 to $17.00 and gave the stock an “outperform” rating in a research report on Wednesday. Three research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $14.16.

Tencent Music Entertainment Group Stock Performance

Shares of TME opened at $14.71 on Thursday. The stock has a market capitalization of $25.24 billion, a P/E ratio of 27.23, a P/E/G ratio of 0.77 and a beta of 0.70. The company has a debt-to-equity ratio of 0.09, a quick ratio of 2.34 and a current ratio of 2.34. Tencent Music Entertainment Group has a 1 year low of $9.41 and a 1 year high of $15.77. The company’s fifty day moving average is $12.29 and its two-hundred day moving average is $11.77.

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 paid a dividend of $0.18 per share. This represents a dividend yield of 0.9%. This is a positive change from Tencent Music Entertainment Group’s previous annual dividend of $0.12. The ex-dividend date is Thursday, April 3rd. Tencent Music Entertainment Group’s payout ratio is 22.03%.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the company. Toronto Dominion Bank acquired a new position in Tencent Music Entertainment Group during the 4th quarter worth approximately $286,000. GF Fund Management CO. LTD. purchased a new stake in shares of Tencent Music Entertainment Group in the fourth quarter valued at approximately $11,411,000. Burgundy Asset Management Ltd. boosted its stake in shares of Tencent Music Entertainment Group by 30.3% in the fourth quarter. Burgundy Asset Management Ltd. now owns 41,980 shares of the company’s stock valued at $476,000 after buying an additional 9,755 shares in the last quarter. Vise Technologies Inc. acquired a new position in Tencent Music Entertainment Group during the fourth quarter worth $169,000. Finally, Vident Advisory LLC raised its position in Tencent Music Entertainment Group by 23.0% in the fourth quarter. Vident Advisory LLC now owns 18,889 shares of the company’s stock worth $214,000 after acquiring an additional 3,538 shares in the last quarter. 24.32% of the stock is owned by hedge funds and other institutional investors.

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.