Traders Buy High Volume of Tencent Music Entertainment Group Put Options (TME)

Tencent Music Entertainment Group – (NYSE:TME) saw some unusual options trading on Thursday. Investors purchased 17,205 put options on the company. This is an increase of 806% compared to the typical volume of 1,900 put options.

Tencent Music Entertainment Group stock opened at $13.86 on Friday. The company has a market capitalization of $23.66 billion and a PE ratio of 69.30. Tencent Music Entertainment Group has a 12 month low of $11.81 and a 12 month high of $19.97.

Tencent Music Entertainment Group (NYSE:TME) last posted its quarterly earnings data on Monday, May 13th. The company reported $0.10 EPS for the quarter, beating the Zacks’ consensus estimate of $0.08 by $0.02. The business had revenue of $855.00 million during the quarter, compared to analysts’ expectations of $861.27 million. As a group, sell-side analysts anticipate that Tencent Music Entertainment Group will post 0.36 EPS for the current fiscal year.



A number of research analysts have issued reports on TME shares. China International Capital started coverage on Tencent Music Entertainment Group in a report on Monday, May 13th. They issued a “hold” rating for the company. Zacks Investment Research raised Tencent Music Entertainment Group from a “hold” rating to a “buy” rating and set a $20.00 price target for the company in a report on Friday, March 15th. Credit Suisse Group downgraded Tencent Music Entertainment Group from an “outperform” rating to a “neutral” rating and set a $18.00 price target for the company. in a report on Wednesday, March 20th. Bank of America boosted their price target on Tencent Music Entertainment Group from $17.10 to $20.10 and gave the company a “buy” rating in a report on Tuesday, March 5th. Finally, China Renaissance Securities started coverage on Tencent Music Entertainment Group in a report on Monday, May 13th. They issued a “hold” rating for the company. Five investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. The company currently has a consensus rating of “Buy” and an average price target of $16.73.

Institutional investors have recently bought and sold shares of the company. Quadrant Capital Group LLC purchased a new stake in shares of Tencent Music Entertainment Group in the first quarter valued at approximately $29,000. Ladenburg Thalmann Financial Services Inc. increased its position in shares of Tencent Music Entertainment Group by 368.2% in the first quarter. Ladenburg Thalmann Financial Services Inc. now owns 2,341 shares of the company’s stock valued at $42,000 after buying an additional 1,841 shares in the last quarter. Commonwealth Bank of Australia purchased a new stake in shares of Tencent Music Entertainment Group in the fourth quarter valued at approximately $43,000. Columbia Asset Management purchased a new stake in shares of Tencent Music Entertainment Group in the fourth quarter valued at approximately $173,000. Finally, Deutsche Bank AG purchased a new stake in shares of Tencent Music Entertainment Group during the fourth quarter worth approximately $86,000. Institutional investors and hedge funds own 5.37% of the company’s stock.

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Tencent Music Entertainment Group Company Profile

Tencent Music Entertainment Group operates an online music entertainment platform that provides online music and music-centric social entertainment services in 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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