Fred Alger Management LLC Raises Holdings in Sea Limited Sponsored ADR $SE

Key Points

• Fred Alger Management LLC has increased its stake in Sea Limited Sponsored ADR (NYSE:SE) by 144.6% during the first quarter, now owning 2,585,179 shares worth approximately $337 million.
• Analysts have mixed ratings for Sea Limited, with target prices ranging from $177.00 to $219.90, indicating a consensus average target price of $173.99.
• Sea Limited reported a $0.65 EPS for the latest quarter, missing analysts' expectations while achieving a quarterly revenue increase of 38.2% year-over-year.

Fred Alger Management LLC increased its stake in Sea Limited Sponsored ADR (NYSE:SE - Free Report) by 144.6% during the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 2,585,179 shares of the Internet company based in Singapore's stock after buying an additional 1,528,301 shares during the period. SEA accounts for about 1.9% of Fred Alger Management LLC's holdings, making the stock its 11th largest holding. Fred Alger Management LLC owned 0.44% of SEA worth $337,340,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently made changes to their positions in the stock. MAI Capital Management increased its stake in shares of SEA by 7.3% in the 1st quarter. MAI Capital Management now owns 1,198 shares of the Internet company based in Singapore's stock worth $156,000 after purchasing an additional 82 shares in the last quarter. Pacer Advisors Inc. increased its stake in shares of SEA by 2.9% in the 1st quarter. Pacer Advisors Inc. now owns 3,082 shares of the Internet company based in Singapore's stock worth $402,000 after purchasing an additional 87 shares in the last quarter. State of Wyoming increased its stake in shares of SEA by 3.1% in the 4th quarter. State of Wyoming now owns 3,010 shares of the Internet company based in Singapore's stock worth $319,000 after purchasing an additional 90 shares in the last quarter. Blue Trust Inc. increased its stake in shares of SEA by 4.8% in the 1st quarter. Blue Trust Inc. now owns 2,043 shares of the Internet company based in Singapore's stock worth $267,000 after purchasing an additional 93 shares in the last quarter. Finally, SOA Wealth Advisors LLC. increased its stake in shares of SEA by 13.3% in the 1st quarter. SOA Wealth Advisors LLC. now owns 850 shares of the Internet company based in Singapore's stock worth $111,000 after purchasing an additional 100 shares in the last quarter. Hedge funds and other institutional investors own 59.53% of the company's stock.

Wall Street Analyst Weigh In

SE has been the subject of several analyst reports. Arete lowered SEA from a "buy" rating to a "neutral" rating and set a $177.00 price objective for the company. in a research note on Wednesday, September 3rd. Wall Street Zen lowered SEA from a "buy" rating to a "hold" rating in a research note on Saturday. Arete Research lowered SEA from a "strong-buy" rating to a "hold" rating in a research note on Wednesday, September 3rd. Barclays increased their price target on SEA from $200.00 to $214.00 and gave the stock an "overweight" rating in a research note on Thursday, August 14th. Finally, JPMorgan Chase & Co. increased their price target on SEA from $208.00 to $230.00 and gave the stock an "overweight" rating in a research note on Thursday. One investment analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and five have given a Hold rating to the company. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $176.85.

SEA Price Performance

Shares of SEA stock traded down $0.24 during trading on Friday, reaching $196.26. 3,048,989 shares of the stock traded hands, compared to its average volume of 3,519,849. The company has a market capitalization of $115.62 billion, a price-to-earnings ratio of 101.69 and a beta of 1.53. The business has a fifty day simple moving average of $169.15 and a two-hundred day simple moving average of $150.60. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.55 and a quick ratio of 1.54. Sea Limited Sponsored ADR has a 52-week low of $78.51 and a 52-week high of $199.30.

SEA (NYSE:SE - Get Free Report) last issued its quarterly earnings data on Tuesday, August 12th. The Internet company based in Singapore reported $0.65 earnings per share for the quarter, missing analysts' consensus estimates of $1.03 by ($0.38). The firm had revenue of $5.26 billion for the quarter, compared to analysts' expectations of $5 billion. SEA had a net margin of 6.23% and a return on equity of 13.66%. The company's revenue for the quarter was up 38.2% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.14 EPS. Sell-side analysts expect that Sea Limited Sponsored ADR will post 0.74 EPS for the current year.

About SEA

Sea Ltd. is an internet and mobile platform company, which engages in the provision of online gaming services. It operates through the following segments: Digital Entertainment, E-Commerce, and Digital Financial Services. The Digital Entertainment segment offers and develops mobile and PC online games.