Coronation Fund Managers Ltd. Sells 282,361 Shares of Sea Limited (NYSE:SE)

Coronation Fund Managers Ltd. trimmed its stake in shares of Sea Limited (NYSE:SE) by 26.6% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 778,065 shares of the Internet company based in Singapore’s stock after selling 282,361 shares during the quarter. SEA makes up 2.5% of Coronation Fund Managers Ltd.’s portfolio, making the stock its 8th biggest position. Coronation Fund Managers Ltd. owned 0.14% of SEA worth $55,569,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently added to or reduced their stakes in SE. SOA Wealth Advisors LLC. bought a new stake in shares of SEA in the 2nd quarter valued at approximately $32,000. GAMMA Investing LLC increased its stake in SEA by 121.3% during the first quarter. GAMMA Investing LLC now owns 613 shares of the Internet company based in Singapore’s stock valued at $33,000 after purchasing an additional 336 shares during the last quarter. Hexagon Capital Partners LLC raised its holdings in shares of SEA by 63.1% during the second quarter. Hexagon Capital Partners LLC now owns 654 shares of the Internet company based in Singapore’s stock worth $47,000 after purchasing an additional 253 shares during the period. UMB Bank n.a. lifted its position in shares of SEA by 50.8% in the 1st quarter. UMB Bank n.a. now owns 1,188 shares of the Internet company based in Singapore’s stock worth $64,000 after buying an additional 400 shares during the last quarter. Finally, Canton Hathaway LLC boosted its holdings in shares of SEA by 20.0% in the 2nd quarter. Canton Hathaway LLC now owns 1,200 shares of the Internet company based in Singapore’s stock valued at $86,000 after buying an additional 200 shares during the period. 59.53% of the stock is owned by institutional investors and hedge funds.

SEA Stock Up 3.4 %

Shares of SE stock opened at $97.47 on Wednesday. The stock’s 50 day simple moving average is $76.77 and its 200 day simple moving average is $69.71. Sea Limited has a twelve month low of $34.35 and a twelve month high of $98.09. 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 $55.79 billion, a price-to-earnings ratio of 1,949.40 and a beta of 1.51.

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

Analyst Ratings Changes

Several equities research analysts recently weighed in on the stock. Wedbush reiterated an “outperform” rating and set a $84.00 price objective (up previously from $76.00) on shares of SEA in a research note on Tuesday, August 13th. Citigroup cut their price target on SEA from $81.00 to $80.00 and set a “buy” rating on the stock in a report on Tuesday, July 23rd. JPMorgan Chase & Co. raised SEA from a “neutral” rating to an “overweight” rating and increased their target price for the stock from $66.00 to $90.00 in a research report on Wednesday, August 14th. Barclays boosted their price target on shares of SEA from $87.00 to $94.00 and gave the company an “overweight” rating in a report on Thursday, August 15th. Finally, 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 report on Monday, September 23rd. Three analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to data from MarketBeat.com, SEA has an average rating of “Moderate Buy” and an average price target of $80.92.

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.