First Beijing Investment Ltd Sells 2,283,682 Shares of Sea Limited (NYSE:SE)

First Beijing Investment Ltd lowered its holdings in Sea Limited (NYSE:SE) by 47.4% in the third quarter, HoldingsChannel reports. The firm owned 2,537,398 shares of the Internet company based in Singapore’s stock after selling 2,283,682 shares during the quarter. SEA makes up approximately 17.6% of First Beijing Investment Ltd’s holdings, making the stock its 2nd biggest holding. First Beijing Investment Ltd’s holdings in SEA were worth $239,226,000 as of its most recent filing with the SEC.

A number of other hedge funds also recently added to or reduced their stakes in the business. Commonwealth Equity Services LLC lifted its holdings in SEA by 6.4% during the 1st quarter. Commonwealth Equity Services LLC now owns 9,997 shares of the Internet company based in Singapore’s stock worth $537,000 after buying an additional 597 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. increased its stake in SEA by 4.6% in the first 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 purchasing an additional 7,866 shares during the period. Daiwa Securities Group Inc. raised its holdings in shares of SEA by 11.9% in the first quarter. Daiwa Securities Group Inc. now owns 25,847 shares of the Internet company based in Singapore’s stock valued at $1,388,000 after buying an additional 2,747 shares during the last quarter. Mediolanum International Funds Ltd acquired a new position in shares of SEA in the first quarter valued at approximately $2,753,000. Finally, Duality Advisers LP acquired a new stake in shares of SEA in the 1st quarter worth $845,000. 59.53% of the stock is currently owned by institutional investors and hedge funds.

SEA Price Performance

Shares of SE stock traded down $0.98 during trading hours on Wednesday, hitting $94.76. 967,082 shares of the company’s stock were exchanged, compared to its average volume of 5,374,794. The stock’s 50-day moving average is $90.45 and its 200-day moving average is $77.43. The company has a debt-to-equity ratio of 0.41, a current ratio of 1.49 and a quick ratio of 1.48. Sea Limited has a 52 week low of $34.35 and a 52 week high of $101.93. The stock has a market cap of $54.23 billion, a price-to-earnings ratio of -273.57 and a beta of 1.52.

SEA (NYSE:SE) last issued its earnings results 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). SEA had a negative net margin of 1.36% and a negative return on equity of 2.92%. The business had revenue of $3.81 billion during the quarter, compared to the consensus estimate of $3.73 billion. During the same period last year, the business posted $0.54 EPS. The firm’s revenue for the quarter was up 23.0% compared to the same quarter last year. As a group, research analysts forecast that Sea Limited will post 0.64 EPS for the current year.

Wall Street Analysts Forecast Growth

SE has been the topic of a number of research reports. Citigroup lowered their price objective on shares of SEA from $81.00 to $80.00 and set a “buy” rating on the stock in a research note on Tuesday, July 23rd. TD Cowen upped their price target 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. Benchmark boosted their price objective on shares of SEA from $87.00 to $94.00 and gave the stock a “buy” rating in a research note on Wednesday, August 14th. Barclays increased their price target on SEA from $87.00 to $94.00 and gave the company an “overweight” rating in a report on Thursday, August 15th. Finally, Bank of America upped their target price on SEA from $84.00 to $96.00 and gave the stock a “buy” rating in a research report on Monday, September 23rd. Three research analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $82.54.

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.