527,641 Shares in Sea Limited (NYSE:SE) Bought by Fred Alger Management LLC

Fred Alger Management LLC bought a new position in Sea Limited (NYSE:SE) in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm bought 527,641 shares of the Internet company based in Singapore’s stock, valued at approximately $49,746,000. Fred Alger Management LLC owned 0.09% of SEA as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of the business. Captrust Financial Advisors increased its stake in shares of SEA by 319.5% in the third quarter. Captrust Financial Advisors now owns 31,396 shares of the Internet company based in Singapore’s stock worth $2,960,000 after purchasing an additional 23,911 shares during the period. Icon Wealth Advisors LLC acquired a new position in shares of SEA in the 3rd quarter worth approximately $216,000. Vinva Investment Management Ltd raised its holdings in shares of SEA by 43.5% in the 3rd quarter. Vinva Investment Management Ltd now owns 68,524 shares of the Internet company based in Singapore’s stock worth $6,462,000 after buying an additional 20,773 shares in the last quarter. Public Sector Pension Investment Board grew its position in SEA by 24.8% during the 3rd quarter. Public Sector Pension Investment Board now owns 191,807 shares of the Internet company based in Singapore’s stock worth $18,084,000 after acquiring an additional 38,100 shares during the last quarter. Finally, Beaconlight Capital LLC bought a new position in SEA in the 3rd quarter valued at $2,251,000. Institutional investors and hedge funds own 59.53% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on SE. Wedbush reaffirmed an “outperform” rating and set a $105.00 price objective (up previously from $84.00) on shares of SEA in a research note on Monday, November 4th. JPMorgan Chase & Co. upgraded shares of SEA from a “neutral” rating to an “overweight” rating and lifted their price target for the company from $66.00 to $90.00 in a research report on Wednesday, August 14th. Benchmark boosted their price objective on shares of SEA from $94.00 to $130.00 and gave the company a “buy” rating in a research report on Wednesday, November 13th. TD Cowen upped their price target on shares of SEA from $69.00 to $100.00 and gave the stock a “hold” rating in a report on Wednesday, November 13th. Finally, Barclays boosted their price objective on shares of SEA from $94.00 to $131.00 and gave the stock an “overweight” rating in a research note on Thursday, November 14th. One investment analyst has rated the stock with a sell rating, two have given a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $91.21.

SEA Stock Up 1.6 %

SE opened at $115.71 on Friday. Sea Limited has a twelve month low of $34.35 and a twelve month high of $117.85. The stock has a market capitalization of $66.23 billion, a price-to-earnings ratio of 771.40 and a beta of 1.52. The company has a quick ratio of 1.60, a current ratio of 1.62 and a debt-to-equity ratio of 0.36. The firm has a 50 day moving average price of $100.03 and a 200-day moving average price of $82.37.

SEA (NYSE:SE) last posted its quarterly earnings results on Tuesday, November 12th. The Internet company based in Singapore reported $0.24 earnings per share for the quarter, missing analysts’ consensus estimates of $0.59 by ($0.35). SEA had a return on equity of 1.40% and a net margin of 0.64%. The firm had revenue of $4.33 billion during the quarter, compared to the consensus estimate of $4.09 billion. During the same quarter in the previous year, the company earned ($0.26) earnings per share. The business’s revenue for the quarter was up 30.8% compared to the same quarter last year. Equities research analysts forecast that Sea Limited will post 0.81 earnings per share for the current year.

SEA Company Profile

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.