Tencent (OTCMKTS:TCEHY) Raised to “Hold” at Zacks Research

Tencent (OTCMKTS:TCEHY) was upgraded by research analysts at Zacks Research from a “strong sell” rating to a “hold” rating in a research note issued on Thursday, Zacks reports.

Tencent Stock Up 0.1%

Shares of OTCMKTS TCEHY opened at $55.65 on Thursday. The company has a current ratio of 1.29, a quick ratio of 1.42 and a debt-to-equity ratio of 0.30. Tencent has a 12-month low of $52.84 and a 12-month high of $87.68. The firm’s 50-day moving average price is $57.28 and its 200-day moving average price is $59.42. The stock has a market capitalization of $506.59 billion, a price-to-earnings ratio of 15.25 and a beta of 0.26.

Institutional Investors Weigh In On Tencent

A hedge fund recently bought a new position in Tencent stock. Raiffeisen Bank International AG acquired a new stake in Tencent Holding Ltd. (OTCMKTS:TCEHY) in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm acquired 259,080 shares of the technology company’s stock, valued at approximately $13,897,000. 0.02% of the stock is owned by hedge funds and other institutional investors.

Tencent Company Profile

Tencent Holdings Limited is a Chinese technology and internet company founded in 1998 and headquartered in Shenzhen, China. The company develops and operates digital platforms, online services and technology products for consumers, businesses and public-sector organizations.

Tencent’s consumer businesses include WeChat, a social communications and digital services platform, and QQ, an instant-messaging and online community service. The company also develops and publishes video games through its domestic and international operations, and provides digital content such as music, video, literature and other entertainment services.

Through its fintech and business services operations, Tencent offers payment services, wealth-management products, cloud computing, cybersecurity, advertising technology and other enterprise solutions.