Pitcairn Co. Increases Stock Position in Sea Limited (NYSE:SE)

Pitcairn Co. lifted its holdings in Sea Limited (NYSE:SE) by 63.0% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 12,753 shares of the Internet company based in Singapore’s stock after buying an additional 4,931 shares during the quarter. Pitcairn Co.’s holdings in SEA were worth $685,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of the business. Healthcare of Ontario Pension Plan Trust Fund bought a new position in SEA during the 1st quarter valued at approximately $60,171,000. CANADA LIFE ASSURANCE Co increased its holdings in shares of SEA by 2.4% during the first quarter. CANADA LIFE ASSURANCE Co now owns 243,346 shares of the Internet company based in Singapore’s stock valued at $13,086,000 after acquiring an additional 5,781 shares in the last quarter. Thornburg Investment Management Inc. raised its position in shares of SEA by 362.6% in the 1st quarter. Thornburg Investment Management Inc. now owns 170,717 shares of the Internet company based in Singapore’s stock worth $9,169,000 after purchasing an additional 133,817 shares during the last quarter. UniSuper Management Pty Ltd boosted its stake in SEA by 103.8% in the 1st quarter. UniSuper Management Pty Ltd now owns 5,300 shares of the Internet company based in Singapore’s stock worth $285,000 after purchasing an additional 2,700 shares in the last quarter. Finally, Seven Eight Capital LP purchased a new stake in SEA during the 1st quarter valued at about $565,000. 59.53% of the stock is currently owned by institutional investors.

SEA Trading Down 1.7 %

SEA stock opened at $64.11 on Friday. Sea Limited has a 52-week low of $34.35 and a 52-week high of $76.60. The company has a market cap of $36.69 billion, a P/E ratio of 1,282.20 and a beta of 1.51. The company has a quick ratio of 1.44, a current ratio of 1.46 and a debt-to-equity ratio of 0.43. The business has a 50-day simple moving average of $71.86 and a two-hundred day simple moving average of $58.58.

SEA (NYSE:SE) last announced its earnings results on Tuesday, May 14th. The Internet company based in Singapore reported ($0.04) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.36 by ($0.40). SEA had a net margin of 0.39% and a return on equity of 0.80%. The business had revenue of $3.73 billion for the quarter, compared to the consensus estimate of $3.64 billion. During the same quarter last year, the firm posted $0.15 earnings per share. The business’s quarterly revenue was up 22.8% compared to the same quarter last year. Analysts predict that Sea Limited will post 0.66 EPS for the current year.

Wall Street Analysts Forecast Growth

SE has been the subject of several recent analyst reports. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and issued a $60.00 target price on shares of SEA in a report on Wednesday, May 15th. Morgan Stanley raised SEA from an “equal weight” rating to an “overweight” rating and upped their price objective for the company from $65.00 to $70.00 in a research report on Monday, April 22nd. Wedbush reissued an “outperform” rating and issued a $72.00 target price on shares of SEA in a report on Tuesday, May 14th. TD Cowen upped their price target on SEA from $52.00 to $64.00 and gave the company a “hold” rating in a report on Wednesday, May 15th. Finally, Barclays increased their price objective on SEA from $85.00 to $87.00 and gave the company an “overweight” rating in a research report on Thursday, May 16th. Six investment 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 currently has an average rating of “Moderate Buy” and an average price target of $74.53.

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.