Granite Bay Wealth Management LLC Makes New $2.16 Million Investment in Sea Limited (NYSE:SE)

Granite Bay Wealth Management LLC acquired a new position in shares of Sea Limited (NYSE:SE) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 32,622 shares of the Internet company based in Singapore’s stock, valued at approximately $2,158,000.

Several other hedge funds have also recently added to or reduced their stakes in SE. Truist Financial Corp increased its stake in SEA by 106.9% during the second quarter. Truist Financial Corp now owns 17,853 shares of the Internet company based in Singapore’s stock valued at $1,275,000 after acquiring an additional 9,224 shares during the period. Chase Investment Counsel Corp acquired a new stake in shares of SEA during the 2nd quarter worth approximately $930,000. Susquehanna Fundamental Investments LLC acquired a new position in shares of SEA in the second quarter valued at $3,092,000. MBB Public Markets I LLC acquired a new position in shares of SEA in the second quarter valued at $1,881,000. Finally, Duquesne Family Office LLC acquired a new position in shares of SEA in the second quarter valued at $4,778,000. Institutional investors own 59.53% of the company’s stock.

SEA Price Performance

Shares of SE stock opened at $94.30 on Tuesday. The firm’s 50 day moving average price is $76.77 and its two-hundred day moving average price is $69.71. The company has a debt-to-equity ratio of 0.41, a quick ratio of 1.48 and a current ratio of 1.49. The stock has a market cap of $53.97 billion, a PE ratio of 1,886.00 and a beta of 1.51. Sea Limited has a 52-week low of $34.35 and a 52-week high of $96.09.

SEA (NYSE:SE) last released its quarterly earnings data on Tuesday, August 13th. The Internet company based in Singapore reported $0.14 EPS for the quarter, missing analysts’ consensus estimates of $0.59 by ($0.45). SEA had a negative net margin of 1.36% and a negative return on equity of 2.92%. The company had revenue of $3.81 billion during the quarter, compared to the consensus estimate of $3.73 billion. During the same quarter in the prior year, the company posted $0.54 EPS. The company’s revenue for the quarter was up 23.0% compared to the same quarter last year. As a group, analysts forecast that Sea Limited will post 0.64 EPS for the current year.

Wall Street Analyst Weigh In

SE has been the subject of a number of analyst reports. Loop Capital raised their price objective on shares of SEA from $92.00 to $94.00 and gave the stock a “buy” rating in a report on Monday, June 10th. Dbs Bank reiterated a “hold” rating and issued a $75.00 price objective on shares of SEA in a research note on Friday, June 28th. Bank of America boosted their price target on shares of SEA from $84.00 to $96.00 and gave the company a “buy” rating in a research report on Monday, September 23rd. JPMorgan Chase & Co. raised SEA from a “neutral” rating to an “overweight” rating and boosted their target price for the stock from $66.00 to $90.00 in a report on Wednesday, August 14th. Finally, TD Cowen raised their price target on SEA from $64.00 to $69.00 and gave the company a “hold” rating in a report on Wednesday, August 14th. Three analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to data from MarketBeat, SEA has an average rating of “Moderate Buy” and an average target price of $80.92.

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.