Tencent (OTCMKTS:TCEHY) Rating Lowered to Strong Sell at Zacks Research

Tencent (OTCMKTS:TCEHY) was downgraded by equities researchers at Zacks Research from a “hold” rating to a “strong sell” rating in a research note issued to investors on Wednesday,Zacks.com reports.

Separately, Barclays reiterated an “overweight” rating and issued a $106.00 target price on shares of Tencent in a research note on Thursday, May 14th. Two equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $106.00.

Tencent Trading Up 0.8%

Shares of TCEHY stock opened at $56.89 on Wednesday. Tencent has a 12-month low of $52.84 and a 12-month high of $87.68. The company has a market capitalization of $517.87 billion, a P/E ratio of 15.59 and a beta of 0.27. The firm has a 50-day moving average price of $57.84 and a 200 day moving average price of $61.08. The company has a quick ratio of 1.42, a current ratio of 1.43 and a debt-to-equity ratio of 0.27.

Institutional Trading of Tencent

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

About Tencent

Tencent Holdings Limited is a Chinese multinational technology conglomerate headquartered in Shenzhen, Guangdong. Founded in 1998, the company grew from early instant-messaging products into a diversified internet services group and is listed on the Hong Kong Stock Exchange. Tencent’s businesses span consumer-facing applications, digital content, cloud services and financial technology, supported by a broad investment program in global technology and gaming companies.

At the consumer level Tencent operates major social and communication platforms such as QQ and WeChat (Weixin), which combine messaging, social networking, mobile payments and a wide range of mini-programs and services.