BOCHK Asset Management Ltd Grows Position in Sea Limited (NYSE:SE)

BOCHK Asset Management Ltd grew its stake in Sea Limited (NYSE:SE) by 280.0% in the 3rd quarter, HoldingsChannel reports. The institutional investor owned 1,900 shares of the Internet company based in Singapore’s stock after purchasing an additional 1,400 shares during the period. BOCHK Asset Management Ltd’s holdings in SEA were worth $179,000 as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in SE. Eminence Capital LP raised its holdings in SEA by 45.2% during the second quarter. Eminence Capital LP now owns 4,522,441 shares of the Internet company based in Singapore’s stock worth $322,993,000 after purchasing an additional 1,408,314 shares in the last quarter. Clearbridge Investments LLC acquired a new stake in shares of SEA during the 2nd quarter worth about $99,989,000. Healthcare of Ontario Pension Plan Trust Fund purchased a new stake in shares of SEA during the first quarter worth about $60,171,000. Los Angeles Capital Management LLC raised its holdings in SEA by 10,373.5% in the 2nd quarter. Los Angeles Capital Management LLC now owns 1,035,722 shares of the Internet company based in Singapore’s stock valued at $73,971,000 after acquiring an additional 1,025,833 shares during the last quarter. Finally, Tree Line Advisors Hong Kong Ltd. purchased a new position in SEA during the first quarter worth about $48,876,000. 59.53% of the stock is owned by institutional investors and hedge funds.

SEA Price Performance

Shares of SEA stock traded up $0.87 during midday trading on Thursday, hitting $100.26. 1,399,503 shares of the company were exchanged, compared to its average volume of 5,499,718. The firm has a 50 day simple moving average of $87.73 and a 200-day simple moving average of $74.68. The company has a debt-to-equity ratio of 0.41, a current ratio of 1.49 and a quick ratio of 1.48. Sea Limited has a 52 week low of $34.35 and a 52 week high of $101.60.

SEA (NYSE:SE) last posted its earnings results on Tuesday, August 13th. The Internet company based in Singapore reported $0.14 earnings per share (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 firm had revenue of $3.81 billion during the quarter, compared to the consensus estimate of $3.73 billion. During the same quarter last year, the firm posted $0.54 EPS. The business’s revenue was up 23.0% on a year-over-year basis. As a group, sell-side analysts anticipate that Sea Limited will post 0.64 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on the company. Barclays increased their target price on SEA from $87.00 to $94.00 and gave the stock an “overweight” rating in a research report on Thursday, August 15th. TD Cowen raised their target price on SEA from $64.00 to $69.00 and gave the company a “hold” rating in a report on Wednesday, August 14th. JPMorgan Chase & Co. raised SEA from a “neutral” rating to an “overweight” rating and boosted their price target for the stock from $66.00 to $90.00 in a research report on Wednesday, August 14th. Wedbush restated an “outperform” rating and set a $84.00 price objective (up from $76.00) on shares of SEA in a report on Tuesday, August 13th. Finally, Citigroup reduced their price target on shares of SEA from $81.00 to $80.00 and set a “buy” rating on the stock in a research report on Tuesday, July 23rd. Three analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target 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.