CIBC Asset Management Inc Grows Stock Position in Sea Limited (NYSE:SE)

CIBC Asset Management Inc raised its position in Sea Limited (NYSE:SE) by 6.6% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 35,699 shares of the Internet company based in Singapore’s stock after acquiring an additional 2,206 shares during the quarter. CIBC Asset Management Inc’s holdings in SEA were worth $3,366,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in the company. Duquesne Family Office LLC purchased a new stake in SEA during the 2nd quarter worth approximately $4,778,000. WCM Investment Management LLC increased its stake 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 buying an additional 5,517,559 shares during the last quarter. Robeco Institutional Asset Management B.V. increased its stake in shares of SEA by 1.8% in the third quarter. Robeco Institutional Asset Management B.V. now owns 404,096 shares of the Internet company based in Singapore’s stock worth $38,098,000 after buying an additional 7,175 shares during the last quarter. Toronto Dominion Bank raised its holdings in SEA by 28.2% in the second quarter. Toronto Dominion Bank now owns 892,969 shares of the Internet company based in Singapore’s stock valued at $63,776,000 after acquiring an additional 196,506 shares in the last quarter. Finally, Kaizen Investment Management Pte. Ltd. bought a new position in SEA during the 3rd quarter valued at $587,544,000. Hedge funds and other institutional investors own 59.53% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on the stock. Benchmark upped their target price on shares of SEA from $94.00 to $130.00 and gave the company a “buy” rating in a research note on Wednesday, November 13th. TD Cowen increased their target price on SEA from $69.00 to $100.00 and gave the stock a “hold” rating in a report on Wednesday, November 13th. JPMorgan Chase & Co. upgraded 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 report on Wednesday, August 14th. Barclays upped their price target on SEA from $94.00 to $131.00 and gave the company an “overweight” rating in a research report on Thursday, November 14th. Finally, Dbs Bank upgraded shares of SEA from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, November 13th. Two investment analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $90.54.

SEA Price Performance

Shares of NYSE:SE opened at $108.58 on Tuesday. The firm’s 50 day moving average is $94.57 and its two-hundred day moving average is $79.86. The firm has a market capitalization of $62.14 billion, a P/E ratio of 723.87 and a beta of 1.52. The company has a current ratio of 1.62, a quick ratio of 1.48 and a debt-to-equity ratio of 0.36. Sea Limited has a 52 week low of $34.35 and a 52 week high of $117.52.

SEA (NYSE:SE) last posted its earnings results on Tuesday, November 12th. The Internet company based in Singapore reported $0.24 EPS for the quarter, missing the consensus estimate 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 revenue was up 30.8% compared to the same quarter last year. Analysts anticipate that Sea Limited will post 0.8 earnings per share for the current 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.