Covenant Partners LLC Makes New Investment in Sea Limited (NYSE:SE)

Covenant Partners LLC purchased a new position in Sea Limited (NYSE:SE) in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 4,147 shares of the Internet company based in Singapore’s stock, valued at approximately $391,000.

Several other institutional investors also recently bought and sold shares of the business. Wasatch Advisors LP raised its holdings in shares of SEA by 3.2% during the first quarter. Wasatch Advisors LP now owns 1,544,492 shares of the Internet company based in Singapore’s stock valued at $82,955,000 after acquiring an additional 48,273 shares during the last quarter. Sumitomo Mitsui Trust Holdings Inc. lifted its stake in shares of SEA by 42.4% in the first quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 1,220,930 shares of the Internet company based in Singapore’s stock worth $65,576,000 after buying an additional 363,694 shares in the last quarter. Commonwealth Equity Services LLC boosted its position in SEA by 6.4% during the first quarter. Commonwealth Equity Services LLC now owns 9,997 shares of the Internet company based in Singapore’s stock worth $537,000 after acquiring an additional 597 shares during the last quarter. Privium Fund Management B.V. grew its stake in SEA by 78.0% during the 1st quarter. Privium Fund Management B.V. now owns 210,000 shares of the Internet company based in Singapore’s stock valued at $11,279,000 after acquiring an additional 92,000 shares in the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. raised its holdings in SEA by 4.6% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 180,646 shares of the Internet company based in Singapore’s stock valued at $9,702,000 after acquiring an additional 7,866 shares during the last quarter. 59.53% of the stock is owned by institutional investors and hedge funds.

SEA Stock Down 1.4 %

Shares of NYSE:SE traded down $1.37 during trading hours on Friday, reaching $99.15. The stock had a trading volume of 1,950,595 shares, compared to its average volume of 5,487,757. The stock has a market capitalization of $56.75 billion, a price-to-earnings ratio of 1,981.80 and a beta of 1.52. The firm’s 50 day moving average is $88.56 and its 200-day moving average is $75.16. Sea Limited has a 1 year low of $34.35 and a 1 year high of $101.93. The company has a debt-to-equity ratio of 0.41, a quick ratio of 1.48 and a current ratio of 1.49.

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

Analyst Ratings Changes

A number of research firms have recently issued reports on SE. Benchmark upped their price target on SEA from $87.00 to $94.00 and gave the company a “buy” rating in a research report on Wednesday, August 14th. Dbs Bank reiterated a “hold” rating and set a $75.00 price target on shares of SEA in a report on Friday, June 28th. Citigroup dropped their price objective on shares of SEA from $81.00 to $80.00 and set a “buy” rating for the company in a report on Tuesday, July 23rd. JPMorgan Chase & Co. raised shares of SEA from a “neutral” rating to an “overweight” rating and lifted their target price for the stock from $66.00 to $90.00 in a research note on Wednesday, August 14th. Finally, Bank of America raised their price target on shares of SEA from $84.00 to $96.00 and gave the stock a “buy” rating in a report on Monday, September 23rd. Three analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $80.92.

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.