Traders Buy Large Volume of SEA Put Options (NYSE:SE)

Sea Limited (NYSE:SE) was the target of some unusual options trading on Thursday. Traders purchased 32,258 put options on the stock. This is an increase of 62% compared to the typical volume of 19,865 put options.

Analyst Ratings Changes

A number of brokerages recently issued reports on SE. TD Cowen raised their price target on SEA from $64.00 to $69.00 and gave the stock a “hold” rating in a research note on Wednesday, August 14th. Dbs Bank reissued a “hold” rating and set a $75.00 price target on shares of SEA in a research note on Friday, June 28th. Benchmark raised their price target on SEA from $87.00 to $94.00 and gave the stock a “buy” rating in a research note on Wednesday, August 14th. JPMorgan Chase & Co. raised SEA from a “neutral” rating to an “overweight” rating and raised their price target for the stock from $66.00 to $90.00 in a research note on Wednesday, August 14th. Finally, Loop Capital raised their price objective on SEA from $92.00 to $94.00 and gave the stock a “buy” rating in a report on Monday, June 10th. Three equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $80.00.

SEA Stock Up 2.5 %

Shares of NYSE:SE traded up $1.94 on Thursday, reaching $79.89. The company had a trading volume of 2,574,201 shares, compared to its average volume of 5,791,421. SEA has a 52-week low of $34.35 and a 52-week high of $83.69. The firm’s 50 day simple moving average is $72.54 and its 200-day simple moving average is $66.55. The firm has a market capitalization of $45.72 billion, a PE ratio of 1,559.00 and a beta of 1.51. The company has a current ratio of 1.49, a quick ratio of 1.48 and a debt-to-equity ratio of 0.41.

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

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in SE. Canton Hathaway LLC increased its stake 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 purchasing an additional 200 shares in the last quarter. Gulf International Bank UK Ltd increased its stake in SEA by 0.7% during the 2nd quarter. Gulf International Bank UK Ltd now owns 28,958 shares of the Internet company based in Singapore’s stock worth $2,068,000 after buying an additional 213 shares in the last quarter. Parallel Advisors LLC increased its stake in SEA by 5.2% during the 2nd quarter. Parallel Advisors LLC now owns 5,063 shares of the Internet company based in Singapore’s stock worth $362,000 after buying an additional 250 shares in the last quarter. Hexagon Capital Partners LLC increased its stake in SEA by 63.1% during the 2nd quarter. Hexagon Capital Partners LLC now owns 654 shares of the Internet company based in Singapore’s stock worth $47,000 after buying an additional 253 shares in the last quarter. Finally, GAMMA Investing LLC increased its stake in SEA by 121.3% during the 1st quarter. GAMMA Investing LLC now owns 613 shares of the Internet company based in Singapore’s stock worth $33,000 after buying an additional 336 shares in the last quarter. 59.53% of the stock is currently owned by hedge funds and other institutional investors.

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.