Financial Advocates Investment Management Invests $703,000 in Sea Limited (NYSE:SE)

Financial Advocates Investment Management purchased a new position in shares of Sea Limited (NYSE:SE) in the 3rd quarter, Holdings Channel reports. The institutional investor purchased 7,455 shares of the Internet company based in Singapore’s stock, valued at approximately $703,000.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. First Trust Direct Indexing L.P. acquired a new position in shares of SEA during the 3rd quarter worth $252,000. China Universal Asset Management Co. Ltd. acquired a new position in SEA in the 3rd quarter valued at about $2,216,000. Autumn Glory Partners LLC acquired a new position in SEA in the 3rd quarter valued at about $661,000. Covenant Partners LLC acquired a new position in SEA in the 3rd quarter valued at about $391,000. Finally, Arkadios Wealth Advisors acquired a new position in SEA in the 3rd quarter valued at about $230,000. Institutional investors and hedge funds own 59.53% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on the stock. Citigroup cut their target price on shares of SEA from $81.00 to $80.00 and set a “buy” rating for the company in a research note on Tuesday, July 23rd. Barclays upped their price objective on shares of SEA from $87.00 to $94.00 and gave the company an “overweight” rating in a research note on Thursday, August 15th. Wedbush reaffirmed an “outperform” rating and set a $84.00 price objective (up previously from $76.00) on shares of SEA in a research note on Tuesday, August 13th. Bank of America upped their price objective on shares of SEA from $84.00 to $96.00 and gave the company a “buy” rating in a research note on Monday, September 23rd. Finally, JPMorgan Chase & Co. upgraded SEA from a “neutral” rating to an “overweight” rating and boosted their target price for the stock from $66.00 to $90.00 in a report on Wednesday, August 14th. Three analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $80.92.

SEA Stock Up 1.4 %

NYSE SE opened at $95.39 on Friday. The stock has a market cap of $54.60 billion, a PE ratio of -271.94 and a beta of 1.52. Sea Limited has a fifty-two week low of $34.35 and a fifty-two week high of $101.93. The business has a 50 day moving average price of $89.69 and a two-hundred day moving average price of $76.28. The company has a quick ratio of 1.48, a current ratio of 1.49 and a debt-to-equity ratio of 0.41.

SEA (NYSE:SE) last released its quarterly earnings results on Tuesday, August 13th. The Internet company based in Singapore reported $0.14 earnings per share for the quarter, missing analysts’ consensus estimates of $0.59 by ($0.45). The company had revenue of $3.81 billion during the quarter, compared to analysts’ expectations of $3.73 billion. SEA had a negative return on equity of 2.92% and a negative net margin of 1.36%. The firm’s revenue was up 23.0% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.54 EPS. As a group, sell-side analysts predict that Sea Limited will post 0.64 EPS for the current fiscal year.

About SEA

Sea Limited, together with its subsidiaries, engages in the digital entertainment, e-commerce, and digital financial service businesses in Southeast Asia, Latin America, rest of Asia, and internationally. It offers Garena digital entertainment platform for users to access mobile and PC online games, as well as promotes eSports operations.