Connable Office Inc. Invests $1.56 Million in Sea Limited (NYSE:SE)

Connable Office Inc. bought a new stake in Sea Limited (NYSE:SE) during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 16,525 shares of the Internet company based in Singapore’s stock, valued at approximately $1,558,000.

Other institutional investors have also bought and sold shares of the company. Duquesne Family Office LLC acquired a new position in shares of SEA in the 2nd quarter valued at about $4,778,000. WCM Investment Management LLC lifted its stake in SEA by 35.9% in the third quarter. WCM Investment Management LLC now owns 20,902,378 shares of the Internet company based in Singapore’s stock valued at $1,971,303,000 after buying an additional 5,517,559 shares during the period. Robeco Institutional Asset Management B.V. lifted its stake in SEA by 1.8% in the third quarter. Robeco Institutional Asset Management B.V. now owns 404,096 shares of the Internet company based in Singapore’s stock valued at $38,098,000 after buying an additional 7,175 shares during the period. Toronto Dominion Bank boosted its holdings in shares of SEA by 28.2% during the 2nd quarter. Toronto Dominion Bank now owns 892,969 shares of the Internet company based in Singapore’s stock worth $63,776,000 after buying an additional 196,506 shares in the last quarter. Finally, Kaizen Investment Management Pte. Ltd. acquired a new stake in shares of SEA during the 3rd quarter worth approximately $587,544,000. Institutional investors own 59.53% of the company’s stock.

SEA Price Performance

Shares of NYSE:SE opened at $103.32 on Friday. The company has a market capitalization of $59.13 billion, a P/E ratio of 688.80 and a beta of 1.52. The company’s 50-day moving average is $93.42 and its 200 day moving average is $79.05. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.48 and a current ratio of 1.62. Sea Limited has a fifty-two week low of $34.35 and a fifty-two week high of $117.52.

SEA (NYSE:SE) last released its 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). The company had revenue of $4.33 billion for the quarter, compared to the consensus estimate of $4.09 billion. SEA had a net margin of 0.64% and a return on equity of 1.40%. The firm’s revenue was up 30.8% on a year-over-year basis. During the same period in the prior year, the company earned ($0.26) earnings per share. On average, equities research analysts forecast that Sea Limited will post 0.8 earnings per share for the current year.

Wall Street Analysts Forecast Growth

SE has been the topic of a number of research reports. Wedbush reiterated an “outperform” rating and set a $105.00 target price (up previously from $84.00) on shares of SEA in a research report on Monday, November 4th. Bank of America increased their price objective on shares of SEA from $84.00 to $96.00 and gave the stock a “buy” rating in a research report on Monday, September 23rd. Dbs Bank raised SEA from a “hold” rating to a “strong-buy” rating in a research report on Wednesday. Barclays upped their price target on SEA from $94.00 to $131.00 and gave the stock an “overweight” rating in a research note on Thursday. Finally, JPMorgan Chase & Co. raised SEA from a “neutral” rating to an “overweight” rating and raised their price objective for the company from $66.00 to $90.00 in a research note on Wednesday, August 14th. Two analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $90.54.

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.