Raiffeisen Bank International AG Makes New $13.90 Million Investment in Tencent Holding Ltd. $TCEHY

Raiffeisen Bank International AG bought a new position in shares of Tencent Holding Ltd. (OTCMKTS:TCEHY) during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor bought 259,080 shares of the technology company’s stock, valued at approximately $13,897,000.

Tencent Trading Down 0.4%

TCEHY opened at $55.85 on Friday. The company has a debt-to-equity ratio of 0.27, a current ratio of 1.43 and a quick ratio of 1.42. The company has a market cap of $508.41 billion, a price-to-earnings ratio of 15.30 and a beta of 0.26. The firm has a 50 day simple moving average of $58.03 and a 200 day simple moving average of $60.63. Tencent Holding Ltd. has a fifty-two week low of $52.84 and a fifty-two week high of $87.68.

Analyst Ratings Changes

Several research firms recently weighed in on TCEHY. Zacks Research cut shares of Tencent from a “hold” rating to a “strong sell” rating in a research report on Wednesday, August 26th. Barclays reissued an “overweight” rating and issued a $106.00 target price on shares of Tencent in a research note on Thursday, May 14th. Two research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $106.00.

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.