Fred Alger Management LLC Takes Position in Sea Limited (NYSE:SE)

Fred Alger Management LLC bought a new stake in Sea Limited (NYSE:SE) during the 3rd quarter, HoldingsChannel reports. The fund bought 527,641 shares of the Internet company based in Singapore’s stock, valued at approximately $49,746,000.

Several other hedge funds and other institutional investors have also made changes to their positions in SE. Kaizen Investment Management Pte. Ltd. purchased a new stake in shares of SEA in the third quarter valued at $587,544,000. WCM Investment Management LLC lifted its holdings in SEA by 35.9% during the 3rd quarter. WCM Investment Management LLC now owns 20,902,378 shares of the Internet company based in Singapore’s stock valued at $1,971,303,000 after buying an additional 5,517,559 shares in the last quarter. Baillie Gifford & Co. lifted its holdings in SEA by 15.5% during the 3rd quarter. Baillie Gifford & Co. now owns 39,564,018 shares of the Internet company based in Singapore’s stock valued at $3,730,096,000 after buying an additional 5,295,590 shares in the last quarter. Eminence Capital LP lifted its holdings in SEA by 45.2% during the 2nd quarter. Eminence Capital LP now owns 4,522,441 shares of the Internet company based in Singapore’s stock valued at $322,993,000 after buying an additional 1,408,314 shares in the last quarter. Finally, Clearbridge Investments LLC bought a new stake in SEA during the 2nd quarter valued at about $99,989,000. Hedge funds and other institutional investors own 59.53% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on SE shares. Barclays lifted their price objective on shares of SEA from $94.00 to $131.00 and gave the company an “overweight” rating in a report on Thursday, November 14th. Wedbush reiterated 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. Dbs Bank upgraded shares of SEA from a “hold” rating to a “strong-buy” rating in a report on Wednesday, November 13th. TD Cowen lifted their price objective on shares of SEA from $69.00 to $100.00 and gave the company a “hold” rating in a report on Wednesday, November 13th. Finally, JPMorgan Chase & Co. raised shares of SEA from a “neutral” rating to an “overweight” rating and raised their target price for the company from $66.00 to $90.00 in a research report on Wednesday, August 14th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $91.21.

SEA Stock Performance

Shares of NYSE SE opened at $115.71 on Friday. The company has a current ratio of 1.62, a quick ratio of 1.60 and a debt-to-equity ratio of 0.36. Sea Limited has a 12 month low of $34.35 and a 12 month high of $117.85. The company has a 50 day simple moving average of $100.03 and a two-hundred day simple moving average of $82.37. The stock has a market cap of $66.23 billion, a price-to-earnings ratio of 771.40 and a beta of 1.52.

SEA (NYSE:SE) last posted its quarterly earnings data on Tuesday, November 12th. The Internet company based in Singapore reported $0.24 earnings per share for the quarter, missing analysts’ consensus estimates of $0.59 by ($0.35). The company had revenue of $4.33 billion for the quarter, compared to analyst estimates of $4.09 billion. SEA had a return on equity of 1.40% and a net margin of 0.64%. The business’s revenue was up 30.8% on a year-over-year basis. During the same quarter in the prior year, the company posted ($0.26) earnings per share. As a group, analysts predict that Sea Limited will post 0.81 earnings per share for the current year.

SEA Profile

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.