Sea Limited (NYSE:SE) Shares Sold by QRG Capital Management Inc.

QRG Capital Management Inc. cut its holdings in shares of Sea Limited (NYSE:SE) by 4.9% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 35,902 shares of the Internet company based in Singapore’s stock after selling 1,866 shares during the quarter. QRG Capital Management Inc.’s holdings in SEA were worth $3,385,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Asset Management One Co. Ltd. raised its position in SEA by 26.5% in the 3rd quarter. Asset Management One Co. Ltd. now owns 298,631 shares of the Internet company based in Singapore’s stock valued at $28,155,000 after purchasing an additional 62,489 shares in the last quarter. National Pension Service increased its stake in shares of SEA by 9.7% during the third quarter. National Pension Service now owns 560,648 shares of the Internet company based in Singapore’s stock worth $52,858,000 after buying an additional 49,548 shares during the period. Roman Butler Fullerton & Co. acquired a new stake in SEA in the third quarter valued at approximately $680,000. Robeco Institutional Asset Management B.V. lifted its stake in SEA by 1.8% in the third quarter. Robeco Institutional Asset Management B.V. now owns 404,096 shares of the Internet company based in Singapore’s stock worth $38,098,000 after acquiring an additional 7,175 shares during the last quarter. Finally, Coronation Fund Managers Ltd. grew its holdings in SEA by 26.1% during the 3rd quarter. Coronation Fund Managers Ltd. now owns 981,118 shares of the Internet company based in Singapore’s stock worth $92,500,000 after acquiring an additional 203,053 shares in the last quarter. Hedge funds and other institutional investors own 59.53% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on SE shares. JPMorgan Chase & Co. raised shares of SEA from a “neutral” rating to an “overweight” rating and lifted their price objective for the stock from $66.00 to $90.00 in a research report on Wednesday, August 14th. Barclays upped their price objective on SEA from $87.00 to $94.00 and gave the stock an “overweight” rating in a research report on Thursday, August 15th. Benchmark boosted their target price on SEA from $87.00 to $94.00 and gave the stock a “buy” rating in a research note on Wednesday, August 14th. Wedbush reiterated an “outperform” rating and issued a $105.00 price target (up from $84.00) on shares of SEA in a research note on Monday. Finally, Bank of America raised 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 research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $82.54.

SEA Price Performance

Shares of SE opened at $95.36 on Thursday. The company has a market capitalization of $54.58 billion, a price-to-earnings ratio of -272.46 and a beta of 1.52. Sea Limited has a fifty-two week low of $34.35 and a fifty-two week high of $101.93. The firm has a 50-day simple moving average of $90.73 and a 200-day simple moving average of $77.56. The company has a debt-to-equity ratio of 0.41, a quick ratio of 1.48 and a current ratio of 1.49.

SEA (NYSE:SE) last released 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 company had revenue of $3.81 billion during the quarter, compared to analyst estimates of $3.73 billion. During the same period in the previous year, the firm posted $0.54 EPS. The company’s revenue for the quarter was up 23.0% on a year-over-year basis. On average, equities research analysts anticipate that Sea Limited will post 0.64 earnings per share for the current year.

SEA Company Profile

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.