Prudential PLC Sells 842,512 Shares of Sea Limited Sponsored ADR (NYSE:SE)

Key Points

• Prudential PLC reduced its stake in Sea Limited, selling 842,512 shares and cutting its position by 26.2%, leaving it with approximately 2.37 million shares.
• Despite missing earnings estimates of $0.93 per share, Sea Limited reported an increase in revenue of 29.6% year-over-year, totaling $4.84 billion.
• Analysts have mixed sentiments on SEA, with Barclays raising its price target from $182 to $200, while Bank of America downgraded it from "buy" to "neutral" with a $160 target price.

Prudential PLC cut its position in shares of Sea Limited Sponsored ADR (NYSE:SE - Free Report) by 26.2% during the 1st quarter, according to the company in its most recent filing with the SEC. The firm owned 2,367,402 shares of the Internet company based in Singapore's stock after selling 842,512 shares during the quarter. SEA accounts for 1.6% of Prudential PLC's portfolio, making the stock its 6th largest position. Prudential PLC owned about 0.40% of SEA worth $308,922,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. Bank of Nova Scotia grew its holdings in shares of SEA by 37.8% in the 4th quarter. Bank of Nova Scotia now owns 3,350 shares of the Internet company based in Singapore's stock worth $355,000 after acquiring an additional 919 shares during the last quarter. Raymond James Financial Inc. acquired a new position in shares of SEA in the 4th quarter worth $19,247,000. Qtron Investments LLC acquired a new position in shares of SEA in the 4th quarter worth $299,000. Townsquare Capital LLC grew its holdings in shares of SEA by 26.1% in the 4th quarter. Townsquare Capital LLC now owns 27,015 shares of the Internet company based in Singapore's stock worth $2,866,000 after acquiring an additional 5,591 shares during the last quarter. Finally, Mariner LLC grew its holdings in shares of SEA by 3.8% in the 4th quarter. Mariner LLC now owns 37,637 shares of the Internet company based in Singapore's stock worth $3,994,000 after acquiring an additional 1,386 shares during the last quarter. 59.53% of the stock is currently owned by institutional investors and hedge funds.

SEA Stock Performance

Shares of SE opened at $146.24 on Tuesday. Sea Limited Sponsored ADR has a 12 month low of $65.15 and a 12 month high of $172.65. The company's fifty day moving average is $156.26 and its 200-day moving average is $141.12. The firm has a market cap of $86.15 billion, a price-to-earnings ratio of 102.99 and a beta of 1.58. The company has a quick ratio of 1.49, a current ratio of 1.51 and a debt-to-equity ratio of 0.18.

SEA (NYSE:SE - Get Free Report) last announced its quarterly earnings results on Tuesday, May 13th. The Internet company based in Singapore reported $0.65 earnings per share for the quarter, missing analysts' consensus estimates of $0.93 by ($0.28). SEA had a return on equity of 10.74% and a net margin of 4.87%. The company had revenue of $4.84 billion during the quarter, compared to analyst estimates of $4.90 billion. During the same period in the prior year, the firm earned ($0.04) EPS. SEA's quarterly revenue was up 29.6% on a year-over-year basis. Equities analysts expect that Sea Limited Sponsored ADR will post 0.74 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on the company. Barclays lifted their target price on SEA from $182.00 to $200.00 and gave the stock an "overweight" rating in a report on Thursday, May 15th. Loop Capital reaffirmed a "buy" rating and issued a $190.00 target price (up previously from $165.00) on shares of SEA in a research report on Thursday, May 29th. Wedbush reaffirmed an "outperform" rating on shares of SEA in a research report on Wednesday, May 14th. Bank of America cut SEA from a "buy" rating to a "neutral" rating and set a $160.00 target price for the company. in a research report on Friday, May 9th. Finally, Sanford C. Bernstein reaffirmed an "outperform" rating and issued a $170.00 target price on shares of SEA in a research report on Wednesday, May 14th. Four analysts have rated the stock with a hold rating, eight have given a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $159.82.

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.

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