SEA (NYSE:SE) Reaches New 12-Month Low Following Analyst Downgrade

Shares of Sea Limited Sponsored ADR (NYSE:SE) reached a new 52-week low on Thursday after StoneX lowered their price target on the stock from $175.00 to $155.00. StoneX currently has a buy rating on the stock. SEA traded as low as $71.33 and last traded at $73.8660, with a volume of 1,116,927 shares trading hands. The stock had previously closed at $73.99.

Several other equities research analysts also recently commented on the company. Jefferies Financial Group cut their price objective on SEA from $164.00 to $142.00 and set a “buy” rating for the company in a report on Tuesday. TD Cowen lowered their target price on shares of SEA from $100.00 to $90.00 and set a “hold” rating on the stock in a report on Wednesday. JPMorgan Chase & Co. dropped their price target on shares of SEA from $173.00 to $149.00 and set an “overweight” rating on the stock in a research report on Wednesday, October 28th. Royal Bank Of Canada upgraded shares of SEA from a “sector perform” rating to a “buy” rating in a research note on Tuesday, September 8th. Finally, Bank of America set a $110.00 price objective on shares of SEA and gave the company a “buy” rating in a research report on Wednesday. One equities research analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and four have assigned a Hold rating to the stock. Based on data from MarketBeat.com, SEA has an average rating of “Moderate Buy” and a consensus target price of $135.17.

Insider Buying and Selling

In related news, insider Feng Zhao sold 30,000 shares of the stock in a transaction on Wednesday, November 4th. The stock was sold at an average price of $80.22, for a total value of $2,406,600.00. Following the sale, the insider owned 63,580 shares in the company, valued at approximately $5,100,387.60. This represents a 32.06% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Yanjun Wang sold 800 shares of the firm’s stock in a transaction on Monday, November 9th. The shares were sold at an average price of $78.32, for a total value of $62,656.00. Following the sale, the insider directly owned 64,780 shares of the company’s stock, valued at $5,073,569.60. This represents a 1.22% decrease in their position. The SEC filing for this sale provides additional information. Over the last ninety days, insiders sold 808,306 shares of company stock valued at $89,099,509. Insiders own 0.22% of the company’s stock.

Hedge Funds Weigh In On SEA

Several institutional investors and hedge funds have recently made changes to their positions in the company. Advisors Asset Management Inc. acquired a new position in shares of SEA in the third quarter valued at about $1,997,000. USS Investment Management Ltd boosted its holdings in SEA by 5.9% in the 3rd quarter. USS Investment Management Ltd now owns 660,654 shares of the Internet company based in Singapore’s stock valued at $64,328,000 after purchasing an additional 36,955 shares during the period. Private Advisor Group LLC bought a new stake in SEA in the 3rd quarter valued at about $243,000. Ieq Capital LLC boosted its holdings in SEA by 1.6% in the 3rd quarter. Ieq Capital LLC now owns 68,883 shares of the Internet company based in Singapore’s stock valued at $6,706,000 after purchasing an additional 1,094 shares during the period. Finally, Cibc World Market Inc. grew its position in shares of SEA by 27.5% during the 3rd quarter. Cibc World Market Inc. now owns 53,808 shares of the Internet company based in Singapore’s stock worth $5,239,000 after purchasing an additional 11,598 shares in the last quarter. Institutional investors and hedge funds own 59.53% of the company’s stock.

SEA Stock Performance

The stock’s 50-day simple moving average is $92.51 and its 200-day simple moving average is $97.12. The stock has a market cap of $44.80 billion, a price-to-earnings ratio of 26.38, a price-to-earnings-growth ratio of 0.79 and a beta of 1.58. The company has a current ratio of 1.49, a quick ratio of 1.48 and a debt-to-equity ratio of 0.07.

SEA (NYSE:SE) last released its quarterly earnings results on Tuesday, November 10th. The Internet company based in Singapore reported $0.78 earnings per share for the quarter, missing analysts’ consensus estimates of $0.99 by ($0.21). The business had revenue of $8.58 billion during the quarter, compared to analyst estimates of $8.08 billion. SEA had a net margin of 5.89% and a return on equity of 13.85%. The firm’s quarterly revenue was up 43.7% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.59 earnings per share. Analysts forecast that Sea Limited Sponsored ADR will post 2.88 earnings per share for the current fiscal year.

About SEA

Sea Limited is a Singapore-based technology company operating digital entertainment, e-commerce and digital financial services businesses. Founded in 2009 as Garena, the company adopted the name Sea Limited in 2017. Its digital entertainment business, Garena, publishes and develops online games and also provides a platform for users to access games and connect with other players. Shopee, Sea’s e-commerce platform, serves consumers and merchants in Southeast Asia and other markets, including Taiwan and parts of Latin America.