State of New Jersey Common Pension Fund D Boosts Stock Holdings in Sea Limited Sponsored ADR $SE

Key Points

• The State of New Jersey Common Pension Fund D increased its shares in Sea Limited Sponsored ADR by 6.9%, holding 169,362 shares valued at $22.1 million at the end of the first quarter.
• Several institutional investors have significantly updated their positions in SEA, including OVERSEA CHINESE BANKING Corp Ltd, which raised its stake by 2,082.7%, now owning over 28.7 million shares.
• SEA's latest quarterly earnings report showed earnings per share of $0.65, missing analysts' expectations, but revenue grew by 38.2% year-on-year to $5.26 billion.

State of New Jersey Common Pension Fund D increased its stake in shares of Sea Limited Sponsored ADR (NYSE:SE - Free Report) by 6.9% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 169,362 shares of the Internet company based in Singapore's stock after purchasing an additional 10,900 shares during the period. State of New Jersey Common Pension Fund D's holdings in SEA were worth $22,100,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in SE. Raymond James Financial Inc. purchased a new stake in SEA during the fourth quarter valued at approximately $19,247,000. Mariner LLC increased its holdings in SEA by 3.8% during the fourth quarter. Mariner LLC now owns 37,637 shares of the Internet company based in Singapore's stock valued at $3,994,000 after buying an additional 1,386 shares during the last quarter. NewEdge Advisors LLC increased its holdings in SEA by 9.2% during the fourth quarter. NewEdge Advisors LLC now owns 14,266 shares of the Internet company based in Singapore's stock valued at $1,514,000 after buying an additional 1,200 shares during the last quarter. CANADA LIFE ASSURANCE Co increased its holdings in SEA by 0.8% during the fourth quarter. CANADA LIFE ASSURANCE Co now owns 284,005 shares of the Internet company based in Singapore's stock valued at $30,097,000 after buying an additional 2,220 shares during the last quarter. Finally, Capital International Sarl increased its holdings in SEA by 43.1% during the fourth quarter. Capital International Sarl now owns 22,832 shares of the Internet company based in Singapore's stock valued at $2,422,000 after buying an additional 6,879 shares during the last quarter. 59.53% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have commented on SE shares. Macquarie reaffirmed an "outperform" rating and set a $219.90 target price (up from $178.20) on shares of SEA in a report on Tuesday, August 12th. Bank of America cut shares of SEA from a "buy" rating to a "neutral" rating and set a $160.00 target price for the company. in a report on Friday, May 9th. Wall Street Zen upgraded shares of SEA from a "hold" rating to a "buy" rating in a research report on Saturday, August 16th. Loop Capital reiterated a "buy" rating and issued a $190.00 price target (up from $165.00) on shares of SEA in a research report on Thursday, May 29th. Finally, Sanford C. Bernstein reiterated an "outperform" rating and issued a $170.00 price target on shares of SEA in a research report on Wednesday, May 14th. Two analysts have rated the stock with a Strong Buy rating, nine have given a Buy rating and three have assigned a Hold rating to the company's stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $173.49.

SEA Price Performance

Shares of NYSE:SE traded down $0.7650 during midday trading on Thursday, reaching $177.9750. 1,193,813 shares of the company were exchanged, compared to its average volume of 4,621,992. The stock has a market cap of $104.85 billion, a PE ratio of 92.17 and a beta of 1.58. The business's fifty day moving average is $158.02 and its two-hundred day moving average is $143.53. Sea Limited Sponsored ADR has a one year low of $75.67 and a one year high of $181.76. The company has a current ratio of 1.55, a quick ratio of 1.54 and a debt-to-equity ratio of 0.16.

SEA (NYSE:SE - Get Free Report) last posted its earnings results on Tuesday, August 12th. The Internet company based in Singapore reported $0.65 earnings per share for the quarter, missing the consensus estimate of $1.03 by ($0.38). The company 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 business's revenue was up 38.2% on a year-over-year basis. During the same period in the previous year, the business posted $0.14 earnings per share. As a group, analysts predict that Sea Limited Sponsored ADR will post 0.74 earnings per share 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.