SEA (NYSE:SE) Hits New 52-Week High – Here’s What Happened

Shares of Sea Limited (NYSE:SE) hit a new 52-week high during mid-day trading on Wednesday . The company traded as high as $119.68 and last traded at $117.99, with a volume of 6682 shares changing hands. The stock had previously closed at $118.16.

Wall Street Analysts Forecast Growth

A number of analysts have commented on SE shares. Barclays lifted their target price on shares of SEA from $94.00 to $131.00 and gave the stock an “overweight” rating in a report on Thursday, November 14th. Phillip Securities reaffirmed a “reduce” rating and issued a $100.00 target price (up previously from $80.00) on shares of SEA in a research note on Tuesday, November 19th. Wedbush reissued an “outperform” rating and set a $105.00 price target (up from $84.00) on shares of SEA in a research report on Monday, November 4th. TD Cowen boosted their target price on shares of SEA from $69.00 to $100.00 and gave the stock a “hold” rating in a report on Wednesday, November 13th. Finally, Dbs Bank raised shares of SEA from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, November 13th. One research analyst has rated the stock with a sell rating, two have issued a hold rating, eleven have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, SEA has a consensus rating of “Moderate Buy” and an average target price of $91.21.

SEA Stock Performance

The stock has a 50 day moving average of $111.61 and a 200 day moving average of $93.13. The company has a quick ratio of 1.60, a current ratio of 1.62 and a debt-to-equity ratio of 0.36. The firm has a market cap of $67.82 billion, a price-to-earnings ratio of 789.40 and a beta of 1.54.

SEA (NYSE:SE) last issued its quarterly earnings results on Tuesday, November 12th. The Internet company based in Singapore reported $0.24 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.59 by ($0.35). The business had revenue of $4.33 billion during the quarter, compared to the consensus estimate of $4.09 billion. SEA had a net margin of 0.64% and a return on equity of 1.40%. The company’s revenue for the quarter was up 30.8% on a year-over-year basis. During the same quarter in the previous year, the business posted ($0.26) EPS. As a group, analysts anticipate that Sea Limited will post 0.81 EPS for the current fiscal year.

Hedge Funds Weigh In On SEA

Institutional investors and hedge funds have recently bought and sold shares of the company. Baillie Gifford & Co. lifted its stake in shares of SEA by 15.5% in the third quarter. Baillie Gifford & Co. now owns 39,564,018 shares of the Internet company based in Singapore’s stock worth $3,730,096,000 after acquiring an additional 5,295,590 shares during the period. WCM Investment Management LLC raised its stake in SEA by 35.9% during the third quarter. WCM Investment Management LLC now owns 20,902,378 shares of the Internet company based in Singapore’s stock worth $1,971,303,000 after buying an additional 5,517,559 shares during the last quarter. Kaizen Investment Management Pte. Ltd. acquired a new position in SEA in the third quarter valued at $587,544,000. Eminence Capital LP boosted its position in SEA by 45.2% during the second quarter. Eminence Capital LP now owns 4,522,441 shares of the Internet company based in Singapore’s stock valued at $322,993,000 after acquiring an additional 1,408,314 shares during the last quarter. Finally, Geode Capital Management LLC grew its holdings in SEA by 4.2% during the 3rd quarter. Geode Capital Management LLC now owns 3,059,521 shares of the Internet company based in Singapore’s stock worth $283,543,000 after acquiring an additional 124,433 shares during the period. Institutional investors and hedge funds own 59.53% of the company’s stock.

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.