Connor Clark & Lunn Investment Management Ltd. Decreases Stock Holdings in Sea Limited (NYSE:SE)

Connor Clark & Lunn Investment Management Ltd. lowered its position in Sea Limited (NYSE:SE) by 47.7% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 565,473 shares of the Internet company based in Singapore’s stock after selling 514,963 shares during the period. Connor Clark & Lunn Investment Management Ltd.’s holdings in SEA were worth $53,313,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of SE. Sequoia Financial Advisors LLC grew its holdings in SEA by 6.2% in the third quarter. Sequoia Financial Advisors LLC now owns 3,081 shares of the Internet company based in Singapore’s stock worth $290,000 after purchasing an additional 180 shares during the last quarter. Canton Hathaway LLC grew its stake in SEA by 20.0% during the 2nd quarter. Canton Hathaway LLC now owns 1,200 shares of the Internet company based in Singapore’s stock worth $86,000 after buying an additional 200 shares during the last quarter. Rosenberg Matthew Hamilton increased its position in SEA by 213.7% during the 3rd quarter. Rosenberg Matthew Hamilton now owns 298 shares of the Internet company based in Singapore’s stock valued at $28,000 after buying an additional 203 shares in the last quarter. Gulf International Bank UK Ltd raised its stake in SEA by 0.7% in the second quarter. Gulf International Bank UK Ltd now owns 28,958 shares of the Internet company based in Singapore’s stock valued at $2,068,000 after buying an additional 213 shares during the last quarter. Finally, Parallel Advisors LLC boosted its holdings in SEA by 5.2% in the second quarter. Parallel Advisors LLC now owns 5,063 shares of the Internet company based in Singapore’s stock worth $362,000 after acquiring an additional 250 shares in the last quarter. Institutional investors own 59.53% of the company’s stock.

SEA Stock Up 4.6 %

SEA stock opened at $113.68 on Wednesday. The business’s 50-day moving average price is $95.29 and its 200 day moving average price is $80.19. The company has a quick ratio of 1.60, a current ratio of 1.62 and a debt-to-equity ratio of 0.36. The firm has a market cap of $65.06 billion, a price-to-earnings ratio of 757.87 and a beta of 1.52. Sea Limited has a 52 week low of $34.35 and a 52 week high of $117.52.

SEA (NYSE:SE) last issued its quarterly earnings data on Tuesday, November 12th. The Internet company based in Singapore reported $0.24 EPS for the quarter, missing analysts’ consensus estimates of $0.59 by ($0.35). SEA had a return on equity of 1.40% and a net margin of 0.64%. The firm had revenue of $4.33 billion for the quarter, compared to analyst estimates of $4.09 billion. During the same period in the previous year, the business earned ($0.26) EPS. SEA’s revenue for the quarter was up 30.8% compared to the same quarter last year. As a group, sell-side analysts anticipate that Sea Limited will post 0.8 earnings per share for the current year.

Analyst Ratings Changes

Several equities analysts have recently issued reports on SE shares. Wedbush restated an “outperform” rating and set a $105.00 price objective (up previously from $84.00) on shares of SEA in a report on Monday, November 4th. JPMorgan Chase & Co. upgraded shares of SEA from a “neutral” rating to an “overweight” rating and upped their price target for the company from $66.00 to $90.00 in a research note on Wednesday, August 14th. Bank of America lifted their price objective on shares of SEA from $84.00 to $96.00 and gave the stock a “buy” rating in a research note on Monday, September 23rd. TD Cowen upped their target price on SEA from $69.00 to $100.00 and gave the company a “hold” rating in a research report on Wednesday, November 13th. Finally, Barclays raised their target price on SEA from $94.00 to $131.00 and gave the stock an “overweight” rating in a research note on Thursday, November 14th. One research analyst has rated the stock with a sell rating, two have issued a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $91.21.

About SEA

Sea Limited, together with its subsidiaries, engages in the digital entertainment, e-commerce, and digital financial service businesses in Southeast Asia, Latin America, rest of Asia, and internationally. It offers Garena digital entertainment platform for users to access mobile and PC online games, as well as promotes eSports operations.