Fred Alger Management LLC Buys 521,782 Shares of Sea Limited Sponsored ADR $SE

Fred Alger Management LLC increased its position in Sea Limited Sponsored ADR (NYSE:SE) by 22.1% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,886,441 shares of the Internet company based in Singapore’s stock after acquiring an additional 521,782 shares during the quarter. SEA comprises approximately 2.0% of Fred Alger Management LLC’s holdings, making the stock its 12th biggest position. Fred Alger Management LLC owned about 0.49% of SEA worth $515,894,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. OVERSEA CHINESE BANKING Corp Ltd boosted its position in shares of SEA by 11.5% in the third quarter. OVERSEA CHINESE BANKING Corp Ltd now owns 1,440,820 shares of the Internet company based in Singapore’s stock worth $257,414,000 after purchasing an additional 148,621 shares during the period. Baird Financial Group Inc. raised its position in shares of SEA by 14.4% during the 2nd quarter. Baird Financial Group Inc. now owns 555,983 shares of the Internet company based in Singapore’s stock valued at $88,924,000 after purchasing an additional 70,070 shares during the period. State of Tennessee Department of Treasury raised its position in shares of SEA by 5.4% during the 2nd quarter. State of Tennessee Department of Treasury now owns 543,203 shares of the Internet company based in Singapore’s stock valued at $86,880,000 after purchasing an additional 27,964 shares during the period. Handelsbanken Fonder AB lifted its stake in shares of SEA by 1.3% during the 2nd quarter. Handelsbanken Fonder AB now owns 168,962 shares of the Internet company based in Singapore’s stock valued at $27,024,000 after buying an additional 2,106 shares in the last quarter. Finally, Andra AP fonden lifted its stake in shares of SEA by 7.0% during the 3rd quarter. Andra AP fonden now owns 144,300 shares of the Internet company based in Singapore’s stock valued at $25,791,000 after buying an additional 9,400 shares in the last quarter. Institutional investors own 59.53% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have issued reports on SE. Weiss Ratings reiterated a “hold (c-)” rating on shares of SEA in a research note on Monday, December 29th. Jefferies Financial Group restated a “buy” rating and issued a $150.00 price objective on shares of SEA in a research report on Tuesday, March 3rd. Barclays dropped their price objective on SEA from $226.00 to $120.00 and set an “overweight” rating for the company in a research note on Thursday, March 5th. Sanford C. Bernstein cut their target price on SEA from $170.00 to $150.00 and set an “outperform” rating for the company in a research report on Wednesday, March 4th. Finally, Morgan Stanley set a $121.00 target price on SEA and gave the company an “overweight” rating in a research note on Friday. One equities research analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, SEA has an average rating of “Moderate Buy” and a consensus price target of $166.83.

SEA Stock Performance

SE opened at $85.83 on Monday. The company has a debt-to-equity ratio of 0.04, a quick ratio of 1.57 and a current ratio of 1.58. The stock has a market capitalization of $50.56 billion, a price-to-earnings ratio of 34.06, a PEG ratio of 0.80 and a beta of 1.59. The company has a fifty day moving average of $113.10 and a 200 day moving average of $142.05. Sea Limited Sponsored ADR has a fifty-two week low of $77.05 and a fifty-two week high of $199.30.

SEA (NYSE:SE) last announced its quarterly earnings results on Tuesday, March 3rd. The Internet company based in Singapore reported $0.63 EPS for the quarter, missing the consensus estimate of $0.91 by ($0.28). SEA had a return on equity of 15.20% and a net margin of 6.93%.The company had revenue of $6.85 billion during the quarter, compared to analysts’ expectations of $6.42 billion. During the same quarter in the previous year, the firm earned $0.39 EPS. The firm’s revenue for the quarter was up 38.4% compared to the same quarter last year. As a group, sell-side analysts forecast that Sea Limited Sponsored ADR will post 0.74 earnings per share for the current fiscal year.

SEA declared that its Board of Directors has approved a share repurchase plan on Monday, November 17th that permits the company to buyback $0.00 in shares. This buyback authorization permits the Internet company based in Singapore to repurchase shares of its stock through open market purchases. Shares buyback plans are typically an indication that the company’s management believes its shares are undervalued.

SEA Company 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.