Fred Alger Management LLC Purchases 521,782 Shares of Sea Limited Sponsored ADR $SE

Fred Alger Management LLC raised its position in shares of Sea Limited Sponsored ADR (NYSE:SE) by 22.1% during the 3rd quarter, Holdings Channel reports. The fund owned 2,886,441 shares of the Internet company based in Singapore’s stock after purchasing an additional 521,782 shares during the period. SEA makes up approximately 2.0% of Fred Alger Management LLC’s investment portfolio, making the stock its 12th biggest position. Fred Alger Management LLC’s holdings in SEA were worth $515,894,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Salomon & Ludwin LLC increased its position in SEA by 2,860.0% in the third quarter. Salomon & Ludwin LLC now owns 148 shares of the Internet company based in Singapore’s stock worth $27,000 after purchasing an additional 143 shares during the last quarter. Sound Income Strategies LLC purchased a new stake in SEA during the third quarter valued at $29,000. Rothschild Investment LLC lifted its position in SEA by 114.0% during the third quarter. Rothschild Investment LLC now owns 199 shares of the Internet company based in Singapore’s stock valued at $36,000 after purchasing an additional 106 shares during the last quarter. Twin Peaks Wealth Advisors LLC bought a new position in SEA during the second quarter valued at $50,000. Finally, Cullen Frost Bankers Inc. grew its stake in shares of SEA by 41.9% in the 3rd quarter. Cullen Frost Bankers Inc. now owns 559 shares of the Internet company based in Singapore’s stock worth $100,000 after buying an additional 165 shares in the last quarter. 59.53% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

SE has been the topic of a number of research reports. Wedbush reduced their target price on shares of SEA from $190.00 to $170.00 and set an “outperform” rating on the stock in a report on Friday, December 19th. Barclays lowered their price target on shares of SEA from $226.00 to $120.00 and set an “overweight” rating for the company in a report on Thursday, March 5th. Morgan Stanley set a $121.00 price objective on SEA and gave the stock an “overweight” rating in a research note on Friday. Sanford C. Bernstein decreased their price objective on SEA from $170.00 to $150.00 and set an “outperform” rating on the stock in a research report on Wednesday, March 4th. Finally, Zacks Research lowered SEA from a “hold” rating to a “strong sell” rating in a research note on Wednesday, December 10th. One analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, SEA presently has a consensus rating of “Moderate Buy” and an average target price of $166.83.

SEA Trading Up 0.8%

Shares of SE opened at $85.83 on Monday. The company’s fifty day simple moving average is $113.10 and its 200-day simple moving average is $142.05. The company has a market cap of $50.56 billion, a P/E ratio of 34.06, a P/E/G ratio of 0.80 and a beta of 1.59. The company has a current ratio of 1.58, a quick ratio of 1.57 and a debt-to-equity ratio of 0.04. Sea Limited Sponsored ADR has a twelve month low of $77.05 and a twelve month high of $199.30.

SEA (NYSE:SE) last released its quarterly earnings results on Tuesday, March 3rd. The Internet company based in Singapore reported $0.63 EPS for the quarter, missing analysts’ consensus estimates of $0.91 by ($0.28). The firm had revenue of $6.85 billion for the quarter, compared to analysts’ expectations of $6.42 billion. SEA had a return on equity of 15.20% and a net margin of 6.93%.SEA’s revenue for the quarter was up 38.4% on a year-over-year basis. During the same period in the prior year, the firm posted $0.39 earnings per share. As a group, analysts expect that Sea Limited Sponsored ADR will post 0.74 EPS for the current year.

SEA declared that its Board of Directors has initiated a stock buyback plan on Monday, November 17th that allows the company to buyback $0.00 in shares. This buyback authorization allows the Internet company based in Singapore to reacquire shares of its stock through open market purchases. Stock buyback plans are usually a sign that the company’s board of directors believes its shares are undervalued.

SEA Profile

Sea Limited (NYSE: SE) is a Singapore-based consumer internet company that operates a trio of interconnected businesses across digital entertainment, e-commerce and digital financial services. Founded in 2009 as Garena and later rebranded as Sea, the company is headquartered in Singapore and listed on the New York Stock Exchange. Sea positions itself as a technology platform focused on enabling online consumers, merchants and developers primarily across Southeast Asia and adjacent markets.

Sea’s digital entertainment arm, Garena, is a game developer and publisher that also organizes esports initiatives and operates online gaming platforms.