First Beijing Investment Ltd Sells 2,283,682 Shares of Sea Limited (NYSE:SE)

First Beijing Investment Ltd lessened its position in Sea Limited (NYSE:SE) by 47.4% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,537,398 shares of the Internet company based in Singapore’s stock after selling 2,283,682 shares during the period. SEA accounts for about 17.6% of First Beijing Investment Ltd’s portfolio, making the stock its 2nd biggest holding. First Beijing Investment Ltd owned about 0.44% of SEA worth $239,226,000 at the end of the most recent reporting period.

Several other hedge funds have also added to or reduced their stakes in the business. Rosenberg Matthew Hamilton boosted its holdings in shares of SEA by 213.7% during the 3rd quarter. Rosenberg Matthew Hamilton now owns 298 shares of the Internet company based in Singapore’s stock worth $28,000 after buying an additional 203 shares in the last quarter. SOA Wealth Advisors LLC. acquired a new position in SEA during the 2nd quarter worth approximately $32,000. Hexagon Capital Partners LLC boosted its holdings in SEA by 63.1% in the second quarter. Hexagon Capital Partners LLC now owns 654 shares of the Internet company based in Singapore’s stock worth $47,000 after acquiring an additional 253 shares in the last quarter. Canton Hathaway LLC grew its stake in SEA by 20.0% in the second quarter. Canton Hathaway LLC now owns 1,200 shares of the Internet company based in Singapore’s stock valued at $86,000 after acquiring an additional 200 shares during the period. Finally, Advisors Asset Management Inc. increased its stake in SEA by 34.5% during the 1st quarter. Advisors Asset Management Inc. now owns 1,825 shares of the Internet company based in Singapore’s stock valued at $98,000 after purchasing an additional 468 shares in the last quarter. 59.53% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several brokerages have recently issued reports on SE. TD Cowen raised their target price on SEA from $64.00 to $69.00 and gave the company a “hold” rating in a research report on Wednesday, August 14th. Barclays increased their price target on shares of SEA from $87.00 to $94.00 and gave the stock an “overweight” rating in a report on Thursday, August 15th. JPMorgan Chase & Co. raised shares of SEA from a “neutral” rating to an “overweight” rating and lifted their price objective for the stock from $66.00 to $90.00 in a report on Wednesday, August 14th. Benchmark lifted their price objective on SEA from $87.00 to $94.00 and gave the stock a “buy” rating in a report on Wednesday, August 14th. Finally, Wedbush reaffirmed an “outperform” rating and issued a $105.00 target price (up from $84.00) on shares of SEA in a research report on Monday. Three investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $82.54.

SEA Stock Down 1.0 %

SE traded down $0.98 during trading on Wednesday, hitting $94.76. The stock had a trading volume of 967,082 shares, compared to its average volume of 5,374,794. Sea Limited has a twelve month low of $34.35 and a twelve month high of $101.93. The stock has a 50 day simple moving average of $90.45 and a two-hundred day simple moving average of $77.43. The company has a debt-to-equity ratio of 0.41, a quick ratio of 1.48 and a current ratio of 1.49. The company has a market capitalization of $54.23 billion, a PE ratio of -273.57 and a beta of 1.52.

SEA (NYSE:SE) last announced its quarterly earnings results on Tuesday, August 13th. The Internet company based in Singapore reported $0.14 earnings per share for the quarter, missing the consensus estimate of $0.59 by ($0.45). The company had revenue of $3.81 billion for the quarter, compared to analyst estimates of $3.73 billion. SEA had a negative return on equity of 2.92% and a negative net margin of 1.36%. SEA’s revenue for the quarter was up 23.0% on a year-over-year basis. During the same period in the prior year, the business posted $0.54 earnings per share. On average, research analysts predict that Sea Limited will post 0.64 earnings per share for the current year.

SEA 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.