Zacks Research Upgrades SEA (NYSE:SE) to “Hold”

SEA (NYSE:SE) was upgraded by research analysts at Zacks Research from a “strong sell” rating to a “hold” rating in a research report issued to clients and investors on Monday,Zacks.com reports.

A number of other research firms also recently issued reports on SE. TD Cowen boosted their target price on shares of SEA from $100.00 to $108.00 and gave the company a “hold” rating in a research report on Wednesday, May 13th. Bank of America restated a “buy” rating and set a $125.00 target price on shares of SEA in a research report on Monday, March 9th. Weiss Ratings restated a “hold (c-)” rating on shares of SEA in a research report on Friday, March 27th. Sanford C. Bernstein decreased their price objective on shares of SEA from $170.00 to $150.00 and set an “outperform” rating for the company in a research report on Wednesday, March 4th. Finally, Barclays upped their price objective on shares of SEA from $120.00 to $122.00 and gave the stock an “overweight” rating in a research report on Thursday, May 14th. One equities research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and four have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $155.54.

SEA Trading Down 2.1%

NYSE SE opened at $93.20 on Monday. The company has a market capitalization of $56.95 billion, a PE ratio of 36.69, a P/E/G ratio of 0.99 and a beta of 1.57. The company has a fifty day moving average of $86.13 and a 200 day moving average of $107.75. SEA has a 1 year low of $77.05 and a 1 year high of $199.30. The company has a debt-to-equity ratio of 0.05, a current ratio of 1.58 and a quick ratio of 1.56.

SEA (NYSE:SE) last posted its earnings results on Tuesday, May 12th. The Internet company based in Singapore reported $0.67 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.75 by ($0.08). The business had revenue of $7.10 billion for the quarter, compared to analyst estimates of $6.46 billion. SEA had a net margin of 6.41% and a return on equity of 14.12%. The company’s revenue for the quarter was up 46.6% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.65 earnings per share. Research analysts forecast that SEA will post 3.33 earnings per share for the current year.

Insider Buying and Selling at SEA

In related news, Director David Y. Ma sold 176,719 shares of the company’s stock in a transaction dated Tuesday, April 14th. The shares were sold at an average price of $87.56, for a total transaction of $15,473,515.64. Following the completion of the transaction, the director owned 895,364 shares in the company, valued at $78,398,071.84. This represents a 16.48% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In the last three months, insiders have sold 1,660,052 shares of company stock worth $146,135,385. 0.22% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the stock. Fred Alger Management LLC raised its position in shares of SEA by 22.1% during the 3rd quarter. Fred Alger Management LLC now owns 2,886,441 shares of the Internet company based in Singapore’s stock worth $515,894,000 after purchasing an additional 521,782 shares during the last quarter. OVERSEA CHINESE BANKING Corp Ltd raised its position in shares of SEA by 24.4% during the 4th quarter. OVERSEA CHINESE BANKING Corp Ltd now owns 1,791,660 shares of the Internet company based in Singapore’s stock worth $228,549,000 after purchasing an additional 350,840 shares during the last quarter. SG Americas Securities LLC raised its position in shares of SEA by 5.7% during the 1st quarter. SG Americas Securities LLC now owns 1,642,304 shares of the Internet company based in Singapore’s stock worth $135,999,000 after purchasing an additional 88,431 shares during the last quarter. Charles Lim Capital Ltd raised its position in shares of SEA by 172.7% during the 4th quarter. Charles Lim Capital Ltd now owns 750,000 shares of the Internet company based in Singapore’s stock worth $95,678,000 after purchasing an additional 475,000 shares during the last quarter. Finally, State of Tennessee Department of Treasury raised its position in shares of SEA by 32.4% during the 4th quarter. State of Tennessee Department of Treasury now owns 718,949 shares of the Internet company based in Singapore’s stock worth $83,750,000 after purchasing an additional 175,746 shares during the last quarter. Institutional investors and hedge funds own 59.53% of the company’s stock.

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.