On April 21, 2023 at 14:31:31 ET an unusually large $60.84K block of Tencent Music Entertainment Group Call contracts – ADR (TME) was traded, with a strike price of $8.00 / share, expires in 91 day(s) (on July 21, 2023). Fintel tracks all major options trades, and the premium spent on this trade is 1.87 sigmas above the mean, placing it in the 97.07th percentile of all recent majors. trades made in TME options.
This trade was first picked up by Fintel’s real time Options Flow tool, where unusual option trades are highlighted.
What is Fund Sentiment?
There are 422 funds or institutions that reported positions in Tencent Music Entertainment Group – ADR. This is an increase of 25 owner(s) or 6.30% over the previous quarter. Average portfolio weight of all funds attributed to TME is 0.23%, an increase of 54.10%. Total shares owned by institutions increased over the past three months by 10.12% to 464,873K shares. TME’s put/call ratio is 0.36, which indicates a bullish outlook.
Analyst Price Forecast Suggests 19.40% Upside
As of April 7, 2023, the average one-year price target for Tencent Music Entertainment Group – ADR is $9.44. Predictions range from a low of $5.15 to a high of $11.55. The average price target represents an upside of 19.40% from the last reported closing price of $7.91.
Check out our leaderboard of the companies with the biggest price targets.
The projected annual revenue for Tencent Music Entertainment Group – ADR is $29,716MM, an increase of 4.86%. Projected annual non-GAAP EPS is $3.13.
What Are Other Shareholders Doing?
MXENX – Great-West Emerging Markets Equity Fund Institutional Class has 100K shares representing 0.01% ownership of the company. In the first filing, the company reported having 0K shares, which represents an increase at 100.00%.
Citadel Advisors owns 452K shares representing 0.03% ownership in the company. In its first filing, the company reported having 249K shares, representing an increase at 44.97%. The strong increased its portfolio allocation to TME by 279.81% last quarter.
NTSE – WisdomTree Emerging Markets Efficient Core Fund N has 5K shares representing 0.00% ownership in the company. In the first filing, the company reported that there is a 4K segment, which represents an increase at 13.30%. The strong increased its portfolio allocation to TME at 67.33% last quarter.
Great West Life Assurance has 545K shares representing 0.03% ownership in the company. In the first filing, the company reported having 659K shares, representing a reduction at 20.95%. The strong decreased its portfolio allocation to TME at 99.84% last quarter.
Equitable Holdings has 18K shares which represent 0.00% ownership in the company. In its first filing, the company reported having 17K shares, representing an increase at 5.43%. The strong increased its portfolio allocation to TME at 40.24% last quarter.
Background Information of Tencent Music Entertainment Group
(This description is provided by the company.)
TencentMusic Entertainment Group is China’s leading online music entertainment platform, operating the country’s most popular and innovative music apps: QQ Music, Kugou Music, Kuwo Music and WeSing. TencentMusic’s mission is to use technology to elevate the role of music in people’s lives by enabling them to create, enjoy, share and interact with music. The TencentMusic platform consists of online music, online karaoke and music-centric live streaming services, which enable music fans to discover, listen, sing, watch, perform and interact with music.
View all Tencent Music Entertainment Group – ADR regulatory filings.
This story originally appeared on Fintel.
The views and opinions expressed herein are those of the author and do not necessarily reflect those of Nasdaq, Inc.