New York State Common Retirement Fund Increases Position in Sea Limited (NYSE:SE)

New York State Common Retirement Fund lifted its position in Sea Limited (NYSE:SE) by 862.3% in the third quarter, HoldingsChannel.com reports. The firm owned 162,328 shares of the Internet company based in Singapore’s stock after purchasing an additional 145,459 shares during the quarter. New York State Common Retirement Fund’s holdings in SEA were worth $15,304,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of SE. Rosenberg Matthew Hamilton increased its stake in shares of SEA by 213.7% in the third quarter. Rosenberg Matthew Hamilton now owns 298 shares of the Internet company based in Singapore’s stock worth $28,000 after purchasing an additional 203 shares in the last quarter. SOA Wealth Advisors LLC. purchased a new stake in shares of SEA in the second quarter worth $32,000. Hexagon Capital Partners LLC increased its stake in shares of SEA by 63.1% in the second quarter. Hexagon Capital Partners LLC now owns 654 shares of the Internet company based in Singapore’s stock worth $47,000 after purchasing an additional 253 shares in the last quarter. Canton Hathaway LLC increased its stake in shares of SEA by 20.0% in the second quarter. Canton Hathaway LLC now owns 1,200 shares of the Internet company based in Singapore’s stock worth $86,000 after purchasing an additional 200 shares in the last quarter. Finally, Advisors Asset Management Inc. boosted its position in shares of SEA by 34.5% during the first quarter. Advisors Asset Management Inc. now owns 1,825 shares of the Internet company based in Singapore’s stock worth $98,000 after acquiring an additional 468 shares during the last quarter. 59.53% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on SE. TD Cowen upped their target price on shares of SEA from $64.00 to $69.00 and gave the stock a “hold” rating in a research report on Wednesday, August 14th. JPMorgan Chase & Co. upgraded shares of SEA from a “neutral” rating to an “overweight” rating and upped their target price for the stock from $66.00 to $90.00 in a research report on Wednesday, August 14th. Barclays upped their target price on shares of SEA from $87.00 to $94.00 and gave the stock an “overweight” rating in a research report on Thursday, August 15th. Bank of America upped their target price 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. Finally, Benchmark increased their price objective on shares of SEA from $87.00 to $94.00 and gave the company a “buy” rating in a research report on Wednesday, August 14th. Three equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $82.54.

SEA Price Performance

SEA stock opened at $95.75 on Wednesday. The firm has a 50-day moving average price of $90.45 and a 200-day moving average price of $77.43. The firm has a market capitalization of $54.80 billion, a PE ratio of -273.57 and a beta of 1.52. The company has a current ratio of 1.49, a quick ratio of 1.48 and a debt-to-equity ratio of 0.41. Sea Limited has a 12-month low of $34.35 and a 12-month high of $101.93.

SEA (NYSE:SE) last posted its quarterly earnings results on Tuesday, August 13th. The Internet company based in Singapore reported $0.14 EPS for the quarter, missing the consensus estimate 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 company’s quarterly revenue was up 23.0% on a year-over-year basis. During the same period in the prior year, the business earned $0.54 EPS. As a group, equities research analysts forecast that Sea Limited will post 0.64 EPS for the current year.

SEA 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.