Beaconlight Capital LLC Buys New Stake in Sea Limited (NYSE:SE)

Beaconlight Capital LLC bought a new stake in shares of Sea Limited (NYSE:SE) in the third quarter, Holdings Channel reports. The fund bought 23,871 shares of the Internet company based in Singapore’s stock, valued at approximately $2,251,000. SEA accounts for 0.9% of Beaconlight Capital LLC’s holdings, making the stock its 23rd largest position.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Baillie Gifford & Co. lifted its position in SEA by 15.5% during the third quarter. Baillie Gifford & Co. now owns 39,564,018 shares of the Internet company based in Singapore’s stock valued at $3,730,096,000 after purchasing an additional 5,295,590 shares during the period. WCM Investment Management LLC raised its position in shares of SEA by 35.9% in 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 acquiring an additional 5,517,559 shares during the period. Kaizen Investment Management Pte. Ltd. acquired a new position in shares of SEA in the third quarter worth about $587,544,000. Eminence Capital LP raised its position in shares of SEA by 45.2% in the second quarter. Eminence Capital LP now owns 4,522,441 shares of the Internet company based in Singapore’s stock worth $322,993,000 after acquiring an additional 1,408,314 shares during the period. Finally, Prudential PLC raised its position in shares of SEA by 6.7% in the second quarter. Prudential PLC now owns 3,649,862 shares of the Internet company based in Singapore’s stock worth $260,673,000 after acquiring an additional 229,500 shares during the period. 59.53% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

SE has been the subject of a number of analyst reports. Bank of America upped their price objective on shares of SEA from $84.00 to $96.00 and gave the stock a “buy” rating in a research report on Monday, September 23rd. Dbs Bank raised shares of SEA from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, November 13th. 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 research note on Wednesday, November 13th. JPMorgan Chase & Co. raised shares of SEA from a “neutral” rating to an “overweight” rating and upped their price objective for the company from $66.00 to $90.00 in a research note on Wednesday, August 14th. Finally, Wedbush reaffirmed an “outperform” rating and set a $105.00 price objective (up previously from $84.00) on shares of SEA in a research note on Monday, November 4th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $91.21.

SEA Stock Up 0.6 %

SEA stock traded up $0.74 during mid-day trading on Wednesday, reaching $114.67. 220,805 shares of the company’s stock were exchanged, compared to its average volume of 5,360,865. The company has a market cap of $65.63 billion, a P/E ratio of 759.40 and a beta of 1.52. Sea Limited has a twelve month low of $34.35 and a twelve month high of $117.85. 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 company has a fifty day moving average of $98.75 and a 200-day moving average of $81.90.

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

SEA Company Profile

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.