Tencent Music Entertainment Group (NYSE:TME – Get Free Report) saw some unusual options trading on Monday. Investors bought 19,873 put options on the stock. This represents an increase of approximately 742% compared to the typical daily volume of 2,361 put options.
Tencent Music Entertainment Group Stock Up 4.4 %
Shares of NYSE:TME opened at $13.11 on Tuesday. The firm has a market cap of $22.49 billion, a P/E ratio of 24.27, a PEG ratio of 0.77 and a beta of 0.70. Tencent Music Entertainment Group has a 52-week low of $9.41 and a 52-week high of $15.77. The business’s 50 day simple moving average is $12.13 and its two-hundred day simple moving average is $11.71. The company has a debt-to-equity ratio of 0.09, a quick ratio of 2.34 and a current ratio of 2.34.
Hedge Funds Weigh In On Tencent Music Entertainment Group
A number of large investors have recently modified their holdings of TME. PNC Financial Services Group Inc. increased its stake in Tencent Music Entertainment Group by 10.9% during the 4th quarter. PNC Financial Services Group Inc. now owns 11,138 shares of the company’s stock valued at $126,000 after purchasing an additional 1,094 shares in the last quarter. BNP Paribas increased its position in shares of Tencent Music Entertainment Group by 2.0% during the fourth quarter. BNP Paribas now owns 58,066 shares of the company’s stock worth $659,000 after acquiring an additional 1,131 shares in the last quarter. Corient Private Wealth LLC raised its holdings in shares of Tencent Music Entertainment Group by 4.2% in the 4th quarter. Corient Private Wealth LLC now owns 33,708 shares of the company’s stock worth $383,000 after acquiring an additional 1,370 shares during the last quarter. Intech Investment Management LLC lifted its position in Tencent Music Entertainment Group by 9.1% in the 3rd quarter. Intech Investment Management LLC now owns 19,850 shares of the company’s stock valued at $239,000 after acquiring an additional 1,664 shares in the last quarter. Finally, Sumitomo Mitsui DS Asset Management Company Ltd boosted its stake in Tencent Music Entertainment Group by 3.9% during the 4th quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 51,636 shares of the company’s stock valued at $586,000 after purchasing an additional 1,923 shares during the last quarter. 24.32% of the stock is currently owned by institutional investors.
Wall Street Analyst Weigh In
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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.
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