Fred Alger Management LLC Cuts Position in Sea Limited Sponsored ADR $SE

Fred Alger Management LLC lessened its holdings in Sea Limited Sponsored ADR (NYSE:SE) by 4.1% in the 4th quarter, Holdings Channel.com reports. The firm owned 2,767,173 shares of the Internet company based in Singapore’s stock after selling 119,268 shares during the quarter. SEA comprises about 1.4% of Fred Alger Management LLC’s holdings, making the stock its 14th biggest position. Fred Alger Management LLC’s holdings in SEA were worth $353,008,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of the business. Oarsman Capital Inc. increased its stake in shares of SEA by 89.0% in the 4th quarter. Oarsman Capital Inc. now owns 2,124 shares of the Internet company based in Singapore’s stock valued at $271,000 after purchasing an additional 1,000 shares in the last quarter. Gen Wealth Partners Inc increased its stake in shares of SEA by 328.6% in the 4th quarter. Gen Wealth Partners Inc now owns 2,829 shares of the Internet company based in Singapore’s stock valued at $361,000 after purchasing an additional 2,169 shares in the last quarter. Arkadios Wealth Advisors increased its stake in shares of SEA by 11.1% in the 4th quarter. Arkadios Wealth Advisors now owns 3,221 shares of the Internet company based in Singapore’s stock valued at $411,000 after purchasing an additional 322 shares in the last quarter. Charles Lim Capital Ltd increased its stake in shares of SEA by 172.7% in the 4th quarter. Charles Lim Capital Ltd now owns 750,000 shares of the Internet company based in Singapore’s stock valued at $95,678,000 after purchasing an additional 475,000 shares in the last quarter. Finally, Brooklyn Investment Group increased its stake in shares of SEA by 7.7% in the 4th quarter. Brooklyn Investment Group now owns 7,966 shares of the Internet company based in Singapore’s stock valued at $1,043,000 after purchasing an additional 567 shares in the last quarter. Hedge funds and other institutional investors own 59.53% of the company’s stock.

Analyst Ratings Changes

SE has been the subject of several recent analyst reports. TD Cowen lifted their price target on SEA from $100.00 to $108.00 and gave the company a “hold” rating in a research note on Wednesday, May 13th. Zacks Research upgraded SEA from a “strong sell” rating to a “hold” rating in a research note on Monday, June 1st. Barclays lifted their price target on SEA from $120.00 to $122.00 and gave the company an “overweight” rating in a research note on Thursday, May 14th. Morgan Stanley set a $121.00 price target on SEA and gave the company an “overweight” rating in a research note on Friday, March 13th. Finally, Sanford C. Bernstein lowered their price objective on SEA from $170.00 to $150.00 and set an “outperform” rating on the stock in a report on Wednesday, March 4th. One investment analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and four have issued a Hold rating to the company’s stock. According to MarketBeat.com, SEA presently has a consensus rating of “Moderate Buy” and a consensus target price of $155.54.

Insider Buying and Selling at SEA

In other news, Director David Y. Ma sold 176,719 shares of the business’s stock in a transaction that occurred on Tuesday, April 14th. The stock was sold at an average price of $87.56, for a total transaction of $15,473,515.64. Following the transaction, the director directly owned 895,364 shares in the company, valued at $78,398,071.84. The trade was a 16.48% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In the last 90 days, insiders sold 1,640,017 shares of company stock worth $144,462,088. Insiders own 0.22% of the company’s stock.

SEA Trading Up 0.3%

Shares of SEA stock opened at $86.95 on Wednesday. The stock has a market cap of $53.13 billion, a P/E ratio of 34.23, a P/E/G ratio of 0.90 and a beta of 1.57. The stock’s 50 day simple moving average is $87.54 and its 200-day simple moving average is $103.70. Sea Limited Sponsored ADR has a 1-year low of $77.05 and a 1-year high of $199.30. The company has a debt-to-equity ratio of 0.05, a current ratio of 1.58 and a quick ratio of 1.56.

SEA (NYSE:SE) last issued its earnings results on Tuesday, May 12th. The Internet company based in Singapore reported $0.67 earnings per share for the quarter, missing the consensus estimate of $0.75 by ($0.08). The company had revenue of $7.10 billion for the quarter, compared to analyst estimates of $6.46 billion. SEA had a return on equity of 14.12% and a net margin of 6.41%.The company’s revenue for the quarter was up 46.6% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.65 earnings per share. Analysts predict that Sea Limited Sponsored ADR will post 3.33 EPS for the current fiscal year.

SEA Company 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.