iA Global Asset Management Inc. Cuts Holdings in Sea Limited (NYSE:SE)

iA Global Asset Management Inc. lessened its holdings in shares of Sea Limited (NYSE:SE) by 22.2% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 47,902 shares of the Internet company based in Singapore’s stock after selling 13,655 shares during the period. iA Global Asset Management Inc.’s holdings in SEA were worth $4,516,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of the business. Cetera Advisors LLC purchased a new stake in shares of SEA during the 1st quarter worth approximately $230,000. Hexagon Capital Partners LLC boosted its position in shares of SEA by 63.1% in the 2nd quarter. Hexagon Capital Partners LLC now owns 654 shares of the Internet company based in Singapore’s stock worth $47,000 after buying an additional 253 shares in the last quarter. Sequoia Financial Advisors LLC acquired a new stake in SEA in the 2nd quarter valued at about $207,000. Diversified Trust Co purchased a new position in SEA during the 2nd quarter valued at about $601,000. Finally, Envestnet Portfolio Solutions Inc. acquired a new position in SEA during the second quarter worth about $377,000. Hedge funds and other institutional investors own 59.53% of the company’s stock.

Analyst Upgrades and Downgrades

SE has been the subject of several recent analyst reports. Bank of America lifted their target price 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. Benchmark boosted their price objective on SEA from $94.00 to $130.00 and gave the stock a “buy” rating in a research note on Wednesday, November 13th. TD Cowen boosted their price objective on shares of SEA from $69.00 to $100.00 and gave the stock a “hold” rating in a report on Wednesday, November 13th. Wedbush reissued an “outperform” rating and set a $105.00 price target (up previously from $84.00) on shares of SEA in a research report on Monday, November 4th. Finally, JPMorgan Chase & Co. upgraded SEA from a “neutral” rating to an “overweight” rating and upped their price objective for the company from $66.00 to $90.00 in a research note on Wednesday, August 14th. One investment analyst has rated the stock with a sell rating, two have given a hold rating, eleven have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, SEA presently has an average rating of “Moderate Buy” and an average target price of $91.21.

SEA Price Performance

Shares of SE stock opened at $116.25 on Friday. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.60 and a current ratio of 1.62. The stock has a market cap of $66.53 billion, a PE ratio of 775.00 and a beta of 1.53. The firm’s 50 day moving average price is $102.85 and its two-hundred day moving average price is $84.36. Sea Limited has a 52-week low of $34.35 and a 52-week high of $118.58.

SEA (NYSE:SE) last posted its quarterly earnings results 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 during the quarter, compared to the consensus estimate of $4.09 billion. SEA had a net margin of 0.64% and a return on equity of 1.40%. The firm’s revenue for the quarter was up 30.8% compared to the same quarter last year. During the same quarter in the prior year, the business earned ($0.26) earnings per share. As a group, analysts forecast that Sea Limited will post 0.81 EPS for the current year.

SEA Company 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.