Tencent (OTCMKTS:TCEHY) Downgraded by Zacks Research to Strong Sell

Zacks Research lowered shares of Tencent (OTCMKTS:TCEHY) from a hold rating to a strong sell rating in a report released on Wednesday,Zacks.com reports.

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

Tencent Stock Performance

OTCMKTS:TCEHY opened at $56.89 on Wednesday. The company has a market capitalization of $517.87 billion, a P/E ratio of 15.59 and a beta of 0.27. The business has a fifty day simple moving average of $57.84 and a two-hundred day simple moving average of $61.08. The company has a debt-to-equity ratio of 0.27, a current ratio of 1.43 and a quick ratio of 1.42. Tencent has a 1 year low of $52.84 and a 1 year high of $87.68.

Institutional Investors Weigh In On Tencent

An institutional investor recently bought a new position in Tencent stock. Raiffeisen Bank International AG purchased a new position in Tencent Holding Ltd. (OTCMKTS:TCEHY) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 259,080 shares of the technology company’s stock, valued at approximately $13,897,000. Hedge funds and other institutional investors own 0.02% of the company’s stock.

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.