Columbus Circle Investors Acquires New Position in Sea Ltd (NYSE:SE)

Columbus Circle Investors acquired a new stake in Sea Ltd (NYSE:SE) in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 754,079 shares of the Internet company based in Singapore’s stock, valued at approximately $25,051,000.

Other institutional investors have also recently made changes to their positions in the company. Norges Bank bought a new stake in SEA in the fourth quarter valued at about $16,980,000. TD Asset Management Inc. increased its holdings in SEA by 13.1% in the first quarter. TD Asset Management Inc. now owns 164,496 shares of the Internet company based in Singapore’s stock valued at $3,869,000 after buying an additional 19,096 shares during the last quarter. Royce & Associates LP bought a new stake in SEA in the first quarter valued at about $2,540,000. Miura Global Management LLC bought a new stake in SEA in the first quarter valued at about $17,640,000. Finally, Tree Line Advisors Hong Kong Ltd. bought a new stake in SEA in the first quarter valued at about $23,755,000. 59.72% of the stock is owned by hedge funds and other institutional investors.

Several brokerages recently weighed in on SE. JPMorgan Chase & Co. began coverage on SEA in a report on Wednesday, June 12th. They issued an “overweight” rating and a $36.00 price objective for the company. Credit Suisse Group set a $43.00 price objective on SEA and gave the company a “buy” rating in a report on Thursday, July 4th. Stifel Nicolaus reissued a “buy” rating and issued a $44.00 price objective (up from $32.00) on shares of SEA in a report on Wednesday, May 22nd. Goldman Sachs Group raised SEA from a “neutral” rating to a “buy” rating in a report on Tuesday. Finally, Piper Jaffray Companies boosted their price objective on SEA from $35.00 to $43.00 and gave the company an “overweight” rating in a report on Thursday, August 8th. Six equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. The stock presently has an average rating of “Buy” and an average price target of $40.80.

NYSE:SE opened at $34.39 on Friday. The firm has a market capitalization of $11.32 billion, a PE ratio of -11.62 and a beta of 1.32. The stock has a 50 day moving average of $35.25 and a 200-day moving average of $26.92. Sea Ltd has a 52 week low of $10.52 and a 52 week high of $38.00. The company has a current ratio of 2.26, a quick ratio of 2.25 and a debt-to-equity ratio of 0.47.

SEA (NYSE:SE) last posted its earnings results on Tuesday, May 21st. The Internet company based in Singapore reported ($0.68) EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.91) by $0.23. The company had revenue of $578.82 million during the quarter, compared to analyst estimates of $425.65 million. SEA had a negative return on equity of 272.42% and a negative net margin of 140.24%. As a group, analysts predict that Sea Ltd will post -3.09 EPS for the current fiscal year.

SEA Company Profile

Sea Limited engages in the digital entertainment, e-commerce, and digital financial service businesses in Taiwan, Thailand, Vietnam, Indonesia, and internationally. It provides Garena digital entertainment platform for users to access mobile and PC online games, and eSports operations; and access to other entertainment content, such as live streaming of online gameplay and social features.

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Institutional Ownership by Quarter for SEA (NYSE:SE)

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