Top Music Stocks To Consider - November 11th

Key Points

• Seven music-related stocks flagged by MarketBeat for high recent dollar trading volume: NetEase, Tencent Music, Warner Music Group, Madison Square Garden Entertainment, Dolby Laboratories, Algorhythm and Reservoir Media.
• Wednesday trading was mixed: MSGE and Algorhythm rose, while NetEase, Tencent Music, Warner Music, Dolby and Reservoir Media edged lower.
• The companies span streaming, recorded music and publishing, live entertainment, audio technology and karaoke; the article notes that some have significant businesses outside music and that investing carries the usual risks.

NetEase, Tencent Music Entertainment Group, Warner Music Group, Madison Square Garden Entertainment, Dolby Laboratories, Algorhythm, and Reservoir Media are the seven Music stocks to watch today, according to MarketBeat's stock screener tool. Music stocks are shares of publicly traded companies whose businesses are tied to the music industry, such as record labels, music publishers, streaming platforms, or live-entertainment companies. Investors may use them to gain exposure to music-related revenues, though many companies also operate in other industries and their shares carry the usual investment risks. These companies had the highest dollar trading volume of any Music stocks within the last several days.

NetEase (NTES)

NetEase, Inc. engages in online games, music streaming, online intelligent learning services, and internet content services businesses in China and internationally . The company operates through Games and Related Value-Added Services, Youdao, Cloud Music, and Innovative Businesses and Others segments.

NASDAQ NTES traded down $6.05 during trading on Wednesday, hitting $121.98. The stock had a trading volume of 994,826 shares, compared to its average volume of 841,650. The company has a market capitalization of $78.10 billion, a PE ratio of 16.81, a PEG ratio of 1.54 and a beta of 0.64. The firm has a 50 day moving average price of $119.93 and a 200 day moving average price of $120.86. NetEase has a twelve month low of $106.06 and a twelve month high of $149.11.

Read Our Latest Research Report on NTES

Tencent Music Entertainment Group (TME)

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.

Shares of TME traded down $0.15 during mid-day trading on Wednesday, hitting $9.18. 3,601,203 shares of the company's stock were exchanged, compared to its average volume of 8,755,300. The company has a market cap of $14.44 billion, a price-to-earnings ratio of 11.33, a P/E/G ratio of 1.65 and a beta of 0.76. Tencent Music Entertainment Group has a fifty-two week low of $7.66 and a fifty-two week high of $19.72. The company has a debt-to-equity ratio of 0.13, a quick ratio of 1.74 and a current ratio of 1.74. The stock's 50-day moving average is $8.36 and its 200-day moving average is $10.07.

Read Our Latest Research Report on TME

Warner Music Group (WMG)

Warner Music Group Corp. operates as a music entertainment company in the United States, the United Kingdom, Germany, and internationally. It operates through Recorded Music and Music Publishing segments. The Recorded Music segment is involved in the discovery and development of recording artists, as well as related marketing, promotion, distribution, sale, and licensing of music created by such recording artists; markets its music catalog through compilations and reissuances of previously released music and video titles, as well as previously unreleased materials; and conducts its operation primarily through a collection of record labels, such as Warner Records and Atlantic Records, as well as Asylum, Big Beat, Canvasback, East West, Erato, FFRR, Fueled by Ramen, Nonesuch, Parlophone, Reprise, Roadrunner, Sire, Spinnin' Records, Warner Classics, and Warner Music Nashville.

Shares of WMG stock traded down $0.07 during trading on Wednesday, reaching $31.77. The company's stock had a trading volume of 402,025 shares, compared to its average volume of 2,277,707. The company has a debt-to-equity ratio of 4.94, a current ratio of 0.73 and a quick ratio of 0.72. The company has a market capitalization of $16.62 billion, a price-to-earnings ratio of 25.19, a P/E/G ratio of 0.44 and a beta of 1.34. The stock's 50-day moving average price is $29.22 and its 200 day moving average price is $28.64. Warner Music Group has a 1-year low of $23.34 and a 1-year high of $35.42.

Read Our Latest Research Report on WMG

Madison Square Garden Entertainment (MSGE)

MSGE traded up $0.83 during trading hours on Wednesday, hitting $79.70. 132,554 shares of the company's stock were exchanged, compared to its average volume of 411,702. The firm has a market cap of $3.23 billion, a P/E ratio of 39.27 and a beta of 0.56. Madison Square Garden Entertainment has a 12-month low of $44.29 and a 12-month high of $90.41. The company has a current ratio of 0.62, a quick ratio of 0.62 and a debt-to-equity ratio of 44.74. The firm has a 50 day moving average of $79.17 and a 200 day moving average of $71.09.

Read Our Latest Research Report on MSGE

Dolby Laboratories (DLB)

Dolby Laboratories, Inc. creates audio and imaging technologies that transform entertainment at the cinema, DTV transmissions and devices, mobile devices, OTT video and music services, home entertainment devices, and automobiles. The company develops and licenses its audio technologies, such as AAC & HE-AAC, a digital audio codec solution used for a range of media applications; AVC, a digital video codec with high bandwidth efficiency used in various media devices; Dolby AC-4, a digital audio coding technology that delivers new audio experiences to a range of playback devices; and Dolby Atmos technology for cinema and various media devices.

DLB stock traded down $0.14 during midday trading on Wednesday, hitting $64.53. The company's stock had a trading volume of 151,263 shares, compared to its average volume of 819,169. The firm has a 50-day simple moving average of $60.84 and a 200-day simple moving average of $59.39. The firm has a market capitalization of $6.04 billion, a P/E ratio of 27.40 and a beta of 0.79. Dolby Laboratories has a 52-week low of $48.26 and a 52-week high of $69.95.

Read Our Latest Research Report on DLB

Algorhythm (RIME)

Algorhythm Holdings, Inc., together with its subsidiaries, engages in the development, marketing, and sale of consumer karaoke audio equipment, accessories, and musical recordings in North America, Australia, the United Kingdom, Europe, and internationally. It offers karaoke products under the Singing Machine brand; licensed karaoke microphone products under the Carpool Karaoke brand; microphone and accessories, and portable Bluetooth microphones under the Party Machine brand; music entertainment singing machines for children under the brand Singing Machine Kids; connected vehicle karaoke devices; and karaoke music subscription services for the iOS and Android platforms, as well as a web-based download store and integrated streaming services for hardware.

Shares of Algorhythm stock traded up $0.01 during trading hours on Wednesday, reaching $0.09. 6,038,317 shares of the company were exchanged, compared to its average volume of 3,612,045. The firm has a market cap of $1.52 million, a PE ratio of -0.06 and a beta of -0.04. Algorhythm has a 1 year low of $0.08 and a 1 year high of $4.58. The stock's fifty day moving average is $0.16 and its 200 day moving average is $0.72.

Read Our Latest Research Report on RIME

Reservoir Media (RSVR)

Reservoir Media, Inc. operates as a music publishing company. It operates through two segments, Music Publishing and Recorded Music. The Music Publishing segment acquires interests in music catalogs, as well as signs songwriters. The Recorded Music segment engages in the acquisition of sound recording catalogs; discovery and development of recording artists; and marketing, distribution, sale, and licensing of the music catalogs.

NASDAQ:RSVR traded down $0.01 during midday trading on Wednesday, reaching $10.28. The company had a trading volume of 25,405 shares, compared to its average volume of 74,200. The firm has a market capitalization of $678.58 million, a price-to-earnings ratio of 60.47 and a beta of 0.82. The stock's fifty day simple moving average is $9.60 and its 200-day simple moving average is $9.62. Reservoir Media has a 12-month low of $7.07 and a 12-month high of $13.39. The company has a current ratio of 1.33, a quick ratio of 1.33 and a debt-to-equity ratio of 1.20.

Read Our Latest Research Report on RSVR

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