Tencent Music Entertainment Group [TME] Is Currently 2.43 below its 200 Period Moving Avg: What Does This Mean?


Tencent Music Entertainment Group [NYSE: TME] gained 2.43% or 0.16 points to close at $6.75 with a heavy trading volume of 11847206 shares. The company report on December 27, 2021 that Final Deadline – Bronstein, Gewirtz & Grossman, LLC Reminds Tencent Music Entertainment Group (TME) Shareholders of Class Action and Lead Plaintiff Deadline: December 27, 2021.

Bronstein, Gewirtz & Grossman, LLC notifies investors that a class action lawsuit has been filed against Goldman Sachs Group Inc. (“Goldman Sachs”) and Morgan Stanley (“Morgan Stanley”) on behalf of purchasers of Tencent Music Entertainment Group (“Tencent” or “the Company”) (NYSE:TME) American Depository Shares (ADS) between March 22, 2021 and March 29, 2021, inclusive (the “Class Period”). Such investors are encouraged to join this case by visiting the firm’s site: www.bgandg.com

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This class action seeks to recover damages against Defendants for alleged violations of the federal securities laws under the Securities Exchange Act of 1934.

It opened the trading session at $6.69, the shares rose to $7.01 and dropped to $6.57, the range by which the price of stock traded the whole day. The daily chart for TME points out that the company has recorded -45.30% loss over the past six months. However, it is still -14.21% lower than its most recent low trading price.

If we look at the average trading volume of 13.83M shares, TME reached to a volume of 11847206 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Here is what top equities market gurus are saying about Tencent Music Entertainment Group [TME]:

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for TME shares is $10.25 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on TME stock is a recommendation set at 2.20. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.

The Benchmark Company have made an estimate for Tencent Music Entertainment Group shares, keeping their opinion on the stock as Hold, with their previous recommendation back on December 28, 2021. The new note on the price target was released on November 15, 2021, representing the official price target for Tencent Music Entertainment Group stock. Previously, the target price had yet another drop from $9 to $8.50, while Citigroup kept a Neutral rating on TME stock. On September 13, 2021, analysts decreased their price target for TME shares from 17 to 10.

The Average True Range (ATR) for Tencent Music Entertainment Group is set at 0.45, with the Price to Sales ratio for TME stock in the period of the last 12 months amounting to 2.23. The Price to Book ratio for the last quarter was 1.42, with the Price to Cash per share for the same quarter was set at 0.59. Price to Free Cash Flow for TME in the course of the last twelve months was 11.33 with Quick ratio for the last quarter at 2.60.

Trading performance analysis for TME stock

Tencent Music Entertainment Group [TME] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -1.46. With this latest performance, TME shares dropped by -1.89% in over the last four-week period, additionally sinking by -45.30% over the last 6 months – not to mention a drop of -67.93% in the past year of trading.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for TME stock in for the last two-week period is set at 51.27, with the RSI for the last a single of trading hit 55.29, and the three-weeks RSI is set at 48.76 for Tencent Music Entertainment Group [TME]. The present Moving Average for the last 50 days of trading for this stock 7.14, while it was recorded at 6.60 for the last single week of trading, and 11.29 for the last 200 days.

Tencent Music Entertainment Group [TME]: A deeper dive into fundamental analysis

Operating Margin for any stock indicates how profitable investing would be, and Tencent Music Entertainment Group [TME] shares currently have an operating margin of +12.78 and a Gross Margin at +31.12. Tencent Music Entertainment Group’s Net Margin is presently recorded at +14.25.

Return on Total Capital for TME is now 7.11, given the latest momentum, and Return on Invested Capital for the company is 7.98. Return on Equity for this stock inclined to 8.45, with Return on Assets sitting at 6.69. When it comes to the capital structure of this company, Tencent Music Entertainment Group [TME] has a Total Debt to Total Equity ratio set at 10.52. Additionally, TME Total Debt to Total Capital is recorded at 9.52, with Total Debt to Total Assets ending up at 8.05. Long-Term Debt to Equity for the company is recorded at 10.32, with the Long-Term Debt to Total Capital now at 9.34.

Reflecting on the efficiency of the workforce at the company, Tencent Music Entertainment Group [TME] managed to generate an average of $126,228 per employee. Receivables Turnover for the company is 10.54 with a Total Asset Turnover recorded at a value of 0.47.Tencent Music Entertainment Group’s liquidity data is similarly interesting compelling, with a Quick Ratio of 2.60 and a Current Ratio set at 2.60.

Tencent Music Entertainment Group [TME]: An earnings per share (EPS) analysis

The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for TME. When it comes to the mentioned value, analysts are expecting to see the 5-year EPS growth rate for Tencent Music Entertainment Group go to 0.77%.

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An analysis of insider ownership at Tencent Music Entertainment Group [TME]

There are presently around $2,920 million, or 55.20% of TME stock, in the hands of institutional investors. The top three institutional holders of TME stocks are: BAILLIE GIFFORD & CO with ownership of 50,815,363, which is approximately 11.493% of the company’s market cap and around 5.63% of the total institutional ownership; BLACKROCK INC., holding 28,141,050 shares of the stock with an approximate value of $189.95 million in TME stocks shares; and VANGUARD GROUP INC, currently with $144.35 million in TME stock with ownership of nearly 3.185% of the company’s market capitalization.

Positions in Tencent Music Entertainment Group stocks held by institutional investors increased at the end of March and at the time of the March reporting period, where 135 institutional holders increased their position in Tencent Music Entertainment Group [NYSE:TME] by around 95,869,910 shares. Additionally, 151 investors decreased positions by around 128,840,272 shares, while 40 investors held positions by with 207,821,659 shares. The mentioned changes placed institutional holdings at 432,531,841 shares, according to the latest SEC report filing. TME stock had 25 new institutional investments in for a total of 27,999,235 shares, while 74 institutional investors sold positions of 41,061,379 shares during the same period.