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

Fred Alger Management LLC lessened its holdings in shares of Sea Limited Sponsored ADR (NYSE:SE) by 4.1% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 2,767,173 shares of the Internet company based in Singapore’s stock after selling 119,268 shares during the period. SEA makes up about 1.4% of Fred Alger Management LLC’s portfolio, making the stock its 14th biggest holding. Fred Alger Management LLC owned about 0.47% of SEA worth $353,008,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the business. Venturi Wealth Management LLC lifted its holdings in shares of SEA by 1.9% during the 4th quarter. Venturi Wealth Management LLC now owns 5,208 shares of the Internet company based in Singapore’s stock valued at $664,000 after purchasing an additional 98 shares during the last quarter. Rothschild Investment LLC lifted its holdings in shares of SEA by 114.0% during the 3rd 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. Cloud Capital Management LLC lifted its holdings in shares of SEA by 8.0% during the 4th quarter. Cloud Capital Management LLC now owns 2,005 shares of the Internet company based in Singapore’s stock valued at $255,000 after purchasing an additional 148 shares during the last quarter. SlateStone Wealth LLC lifted its holdings in shares of SEA by 0.5% during the 4th quarter. SlateStone Wealth LLC now owns 31,098 shares of the Internet company based in Singapore’s stock valued at $3,967,000 after purchasing an additional 150 shares during the last quarter. Finally, EverSource Wealth Advisors LLC lifted its holdings in shares of SEA by 9.6% during the 3rd quarter. EverSource Wealth Advisors LLC now owns 1,835 shares of the Internet company based in Singapore’s stock valued at $328,000 after purchasing an additional 160 shares during the last quarter. Hedge funds and other institutional investors own 59.53% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have commented on the company. Bank of America reaffirmed a “buy” rating and set a $125.00 price target on shares of SEA in a research report on Monday, March 9th. Jefferies Financial Group reaffirmed a “buy” rating on shares of SEA in a research report on Tuesday, May 12th. JPMorgan Chase & Co. lowered their price target on SEA from $168.00 to $163.00 and set an “overweight” rating for the company in a research report on Thursday, May 14th. Morgan Stanley set a $121.00 price target on SEA and gave the stock an “overweight” rating in a research report on Friday, March 13th. Finally, Barclays lifted their price target on SEA from $120.00 to $122.00 and gave the stock an “overweight” rating in a research report on Thursday, May 14th. One analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and four have issued a Hold rating to the company’s stock. Based on data from MarketBeat, SEA has a consensus rating of “Moderate Buy” and an average price target of $155.54.

Insider Buying and Selling at SEA

In other SEA news, Director David Y. Ma sold 176,719 shares of SEA stock in a transaction dated 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 completion of the transaction, the director owned 895,364 shares in the company, valued at approximately $78,398,071.84. This trade represents a 16.48% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In the last ninety days, insiders sold 1,640,017 shares of company stock worth $144,462,088. Company insiders own 0.22% of the company’s stock.

SEA Stock Performance

NYSE SE opened at $86.95 on Wednesday. The stock has a 50-day simple moving average of $87.54 and a two-hundred day simple moving average of $103.70. The firm has a market capitalization of $53.13 billion, a P/E ratio of 34.23, a PEG ratio of 0.90 and a beta of 1.57. Sea Limited Sponsored ADR has a fifty-two week low of $77.05 and a fifty-two week high of $199.30. The company has a debt-to-equity ratio of 0.05, a quick ratio of 1.56 and a current ratio of 1.58.

SEA (NYSE:SE) last released its quarterly earnings data on Tuesday, May 12th. The Internet company based in Singapore reported $0.67 earnings per share for the quarter, missing analysts’ consensus estimates of $0.75 by ($0.08). The company had revenue of $7.10 billion for the quarter, compared to analysts’ expectations of $6.46 billion. SEA had a net margin of 6.41% and a return on equity of 14.12%. The business’s quarterly revenue was up 46.6% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.65 EPS. On average, equities analysts forecast that Sea Limited Sponsored ADR will post 3.33 earnings per share for the current year.

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.