Engineers Gate Manager LP Decreases Stock Position in Sea Limited Sponsored ADR $SE

Key Points

• Engineers Gate Manager LP cut its SEA stake by 57.6% in the second quarter, selling 30,479 shares and retaining 22,450 shares valued at approximately $2.15 million. Institutional investors collectively own 59.53% of the company.
• Analyst sentiment remains broadly positive, with a consensus rating of “Moderate Buy” and an average price target of $149.40; Morgan Stanley and Barclays set targets of $153 and $156, respectively.
• SEA reported quarterly revenue of $7.79 billion, up 48.3% year over year and above estimates, but earnings per share of $0.70 missed the $0.86 consensus. Recent insider selling totaled more than $257 million over 90 days.

Engineers Gate Manager LP trimmed its stake in shares of Sea Limited Sponsored ADR (NYSE:SE - Free Report) by 57.6% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 22,450 shares of the Internet company based in Singapore's stock after selling 30,479 shares during the quarter. Engineers Gate Manager LP's holdings in SEA were worth $2,151,000 at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of the stock. Capstone Capital Management Ltd purchased a new position in shares of SEA in the 1st quarter valued at about $1,612,000. Ramirez Asset Management Inc. acquired a new stake in SEA in the fourth quarter valued at approximately $3,560,000. Equitable Trust Co. lifted its stake in SEA by 30.9% in the first quarter. Equitable Trust Co. now owns 187,558 shares of the Internet company based in Singapore's stock worth $15,532,000 after acquiring an additional 44,252 shares during the last quarter. Handelsbanken Fonder AB lifted its stake in SEA by 18.8% in the second quarter. Handelsbanken Fonder AB now owns 167,648 shares of the Internet company based in Singapore's stock worth $16,066,000 after acquiring an additional 26,498 shares during the last quarter. Finally, Charles Lim Capital Ltd grew its holdings in 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 acquiring an additional 475,000 shares in the last quarter. Hedge funds and other institutional investors own 59.53% of the company's stock.

Analysts Set New Price Targets

SE has been the topic of a number of recent analyst reports. Morgan Stanley reissued an "overweight" rating and issued a $153.00 price objective on shares of SEA in a research report on Thursday, August 13th. Barclays boosted their target price on shares of SEA from $122.00 to $156.00 and gave the stock an "overweight" rating in a research note on Wednesday, August 12th. Sanford C. Bernstein reissued an "outperform" rating on shares of SEA in a report on Monday, July 20th. Zacks Research cut SEA from a "hold" rating to a "strong sell" rating in a research note on Tuesday, August 11th. Finally, Weiss Ratings upgraded SEA from a "hold (c-)" rating to a "hold (c)" rating in a research note on Wednesday, August 12th. One investment analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $149.40.

SEA Stock Performance

Shares of SEA stock opened at $102.81 on Wednesday. The firm has a market capitalization of $62.82 billion, a P/E ratio of 39.69, a P/E/G ratio of 1.09 and a beta of 1.51. Sea Limited Sponsored ADR has a 52 week low of $77.05 and a 52 week high of $195.48. The company has a quick ratio of 1.48, a current ratio of 1.49 and a debt-to-equity ratio of 0.07. The firm's 50 day moving average is $112.18 and its two-hundred day moving average is $96.98.

SEA (NYSE:SE - Get Free Report) last released its quarterly earnings data on Tuesday, August 11th. The Internet company based in Singapore reported $0.70 earnings per share for the quarter, missing analysts' consensus estimates of $0.86 by ($0.16). The company had revenue of $7.79 billion for the quarter, compared to analyst estimates of $7.12 billion. SEA had a return on equity of 13.54% and a net margin of 5.98%.The firm's revenue for the quarter was up 48.3% compared to the same quarter last year. During the same period in the previous year, the business posted $0.65 EPS. Research analysts forecast that Sea Limited Sponsored ADR will post 2.91 EPS for the current fiscal year.

Insider Activity at SEA

In related news, COO Gang Ye sold 30,000 shares of SEA stock in a transaction on Tuesday, August 11th. The shares were sold at an average price of $129.35, for a total transaction of $3,880,500.00. Following the sale, the chief operating officer directly owned 430,000 shares in the company, valued at $55,620,500. This trade represents a 6.52% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Jingye Chen sold 30,000 shares of the business's stock in a transaction on Wednesday, September 9th. The shares were sold at an average price of $108.87, for a total transaction of $3,266,100.00. Following the completion of the sale, the insider directly owned 270,000 shares of the company's stock, valued at approximately $29,394,900. This trade represents a 10.00% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 2,113,386 shares of company stock valued at $257,040,026 in the last ninety days. Insiders own 0.22% of the company's stock.

SEA Profile

Sea Limited NYSE: SE is a Singapore-based global consumer internet company that develops and operates digital services across entertainment, e-commerce and financial technology. Founded in 2009 as Garena, the company adopted the Sea name in 2017 as it expanded beyond online gaming.

Garena, Sea's digital entertainment business, publishes and develops online games, including the widely distributed mobile battle royale title Free Fire. Garena also provides an online platform for game-related content and community activities.

Shopee operates an e-commerce marketplace that connects consumers, sellers and brands.

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