Clearbridge Investments LLC Buys New Position in Sea Limited (NYSE:SE)

Clearbridge Investments LLC purchased a new position in shares of Sea Limited (NYSE:SE) during the second quarter, Holdings Channel.com reports. The fund purchased 1,400,007 shares of the Internet company based in Singapore’s stock, valued at approximately $99,989,000.

A number of other institutional investors also recently made changes to their positions in the stock. Baillie Gifford & Co. raised its holdings in SEA by 0.4% during the second quarter. Baillie Gifford & Co. now owns 34,268,428 shares of the Internet company based in Singapore’s stock worth $2,447,451,000 after purchasing an additional 148,980 shares in the last quarter. Kora Management LP raised its stake in shares of SEA by 9.4% in the 1st quarter. Kora Management LP now owns 4,637,500 shares of the Internet company based in Singapore’s stock worth $249,080,000 after buying an additional 400,000 shares in the last quarter. Eminence Capital LP lifted its holdings in shares of SEA by 45.2% in the second 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 during the period. Kontiki Capital Management HK Ltd. boosted its stake in SEA by 1.9% during the first quarter. Kontiki Capital Management HK Ltd. now owns 3,744,416 shares of the Internet company based in Singapore’s stock valued at $201,113,000 after buying an additional 68,900 shares in the last quarter. Finally, Prudential PLC grew its holdings in SEA by 6.7% during the second quarter. Prudential PLC now owns 3,649,862 shares of the Internet company based in Singapore’s stock worth $260,673,000 after acquiring an additional 229,500 shares during the period. 59.53% of the stock is owned by institutional investors and hedge funds.

SEA Stock Down 2.2 %

Shares of SEA stock opened at $95.30 on Thursday. The company has a current ratio of 1.49, a quick ratio of 1.48 and a debt-to-equity ratio of 0.41. Sea Limited has a 1 year low of $34.35 and a 1 year high of $98.09. The stock has a 50-day moving average price of $77.38 and a 200 day moving average price of $69.99. The company has a market cap of $54.54 billion, a P/E ratio of 1,906.00 and a beta of 1.51.

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

Analysts Set New Price Targets

SE has been the subject of several research reports. Citigroup reduced their price objective on shares of SEA from $81.00 to $80.00 and set a “buy” rating for the company in a research report on Tuesday, July 23rd. Loop Capital lifted their price target on shares of SEA from $92.00 to $94.00 and gave the stock a “buy” rating in a research report on Monday, June 10th. TD Cowen increased their price objective on SEA from $64.00 to $69.00 and gave the company a “hold” rating in a research report on Wednesday, August 14th. Wedbush restated an “outperform” rating and issued a $84.00 target price (up from $76.00) on shares of SEA in a report on Tuesday, August 13th. Finally, JPMorgan Chase & Co. raised SEA from a “neutral” rating to an “overweight” rating and upped their target price for the company from $66.00 to $90.00 in a report on Wednesday, August 14th. Three analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock presently 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.