Sea Limited Sponsored ADR $SE Shares Sold by Eminence Capital LP

Key Points

• Eminence Capital LP has reduced its stake in Sea Limited Sponsored ADR by 37.4%, making it the largest position in their portfolio with 2,536,210 shares now owned.
• Several hedge funds significantly increased their stakes in SEA, with OVERSEA CHINESE BANKING Corp Ltd boosting its ownership by 2,082.7% to nearly 28.8 million shares.
• SEA reported earnings of $0.65 per share, missing estimates, but revenue was up 38.2% year-on-year to $5.26 billion, exceeding analysts' expectations.

Eminence Capital LP decreased its holdings in Sea Limited Sponsored ADR (NYSE:SE - Free Report) by 37.4% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 2,536,210 shares of the Internet company based in Singapore's stock after selling 1,513,853 shares during the period. SEA accounts for approximately 5.5% of Eminence Capital LP's holdings, making the stock its biggest holding. Eminence Capital LP owned 0.43% of SEA worth $330,950,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in SE. OVERSEA CHINESE BANKING Corp Ltd lifted its holdings in shares of SEA by 2,082.7% in the 1st quarter. OVERSEA CHINESE BANKING Corp Ltd now owns 28,766,718 shares of the Internet company based in Singapore's stock valued at $3,753,769,000 after acquiring an additional 27,448,779 shares during the last quarter. Jennison Associates LLC bought a new position in shares of SEA in the 1st quarter valued at about $336,521,000. Nuveen LLC bought a new position in shares of SEA in the 1st quarter valued at about $162,796,000. Mirae Asset Global Investments Co. Ltd. lifted its holdings in shares of SEA by 713.3% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 790,538 shares of the Internet company based in Singapore's stock valued at $103,157,000 after acquiring an additional 693,336 shares during the last quarter. Finally, AGF Management Ltd. lifted its holdings in shares of SEA by 171.3% in the 1st quarter. AGF Management Ltd. now owns 982,853 shares of the Internet company based in Singapore's stock valued at $128,252,000 after acquiring an additional 620,587 shares during the last quarter. Institutional investors own 59.53% of the company's stock.

SEA Stock Up 0.6%

SE stock traded up $1.19 during trading on Tuesday, hitting $191.76. 1,723,679 shares of the company's stock traded hands, compared to its average volume of 4,568,779. The firm has a market capitalization of $112.97 billion, a P/E ratio of 99.30 and a beta of 1.53. The business has a fifty day simple moving average of $165.54 and a two-hundred day simple moving average of $148.86. The company has a quick ratio of 1.54, a current ratio of 1.55 and a debt-to-equity ratio of 0.16. Sea Limited Sponsored ADR has a 1 year low of $76.38 and a 1 year high of $195.00.

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

Wall Street Analysts Forecast Growth

SE has been the subject of several analyst reports. Arete Research downgraded shares of SEA from a "strong-buy" rating to a "hold" rating in a research note on Wednesday, September 3rd. Loop Capital reissued a "buy" rating and issued a $190.00 price objective (up previously from $165.00) on shares of SEA in a research note on Thursday, May 29th. Barclays raised their target price on shares of SEA from $200.00 to $214.00 and gave the stock an "overweight" rating in a research report on Thursday, August 14th. Macquarie reaffirmed an "outperform" rating and set a $219.90 target price (up from $178.20) on shares of SEA in a research report on Tuesday, August 12th. Finally, Benchmark raised their target price on shares of SEA from $180.00 to $205.00 and gave the stock a "buy" rating in a research report on Wednesday, August 13th. One equities research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and five have given a Hold rating to the company. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $173.99.

SEA Profile

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.