Ramirez Asset Management Inc. Purchases Shares of 27,904 Sea Limited Sponsored ADR $SE

Ramirez Asset Management Inc. purchased a new stake in shares of Sea Limited Sponsored ADR (NYSE:SE) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 27,904 shares of the Internet company based in Singapore’s stock, valued at approximately $3,560,000.

A number of other large investors have also made changes to their positions in the company. Fred Alger Management LLC grew its stake in shares of SEA by 22.1% during the 3rd quarter. Fred Alger Management LLC now owns 2,886,441 shares of the Internet company based in Singapore’s stock valued at $515,894,000 after purchasing an additional 521,782 shares during the period. OVERSEA CHINESE BANKING Corp Ltd grew its stake in shares of SEA by 24.4% during the 4th quarter. OVERSEA CHINESE BANKING Corp Ltd now owns 1,791,660 shares of the Internet company based in Singapore’s stock valued at $228,549,000 after purchasing an additional 350,840 shares during the period. State of Tennessee Department of Treasury grew its stake in shares of SEA by 5.4% during the 2nd quarter. State of Tennessee Department of Treasury now owns 543,203 shares of the Internet company based in Singapore’s stock valued at $86,880,000 after purchasing an additional 27,964 shares during the period. PFA Pension Forsikringsaktieselskab bought a new stake in shares of SEA during the 4th quarter valued at about $26,282,000. Finally, Andra AP fonden grew its stake in shares of SEA by 7.0% during the 3rd quarter. Andra AP fonden now owns 144,300 shares of the Internet company based in Singapore’s stock valued at $25,791,000 after purchasing an additional 9,400 shares during the period. 59.53% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other SEA news, Director David Y. Ma sold 176,719 shares of the company’s stock in a transaction that occurred on Tuesday, April 14th. The stock was sold at an average price of $87.56, for a total value of $15,473,515.64. Following the completion of the transaction, the director directly owned 895,364 shares in the company, valued at $78,398,071.84. This represents a 16.48% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. In the last ninety days, insiders sold 1,670,852 shares of company stock valued at $147,112,509. Corporate insiders own 0.22% of the company’s stock.

SEA Trading Down 5.7%

Shares of NYSE:SE opened at $86.80 on Friday. The stock has a 50 day moving average of $86.98 and a 200 day moving average of $106.56. The company has a market cap of $53.04 billion, a PE ratio of 34.17, a price-to-earnings-growth ratio of 0.90 and a beta of 1.57. The company has a current ratio of 1.58, a quick ratio of 1.56 and a debt-to-equity ratio of 0.05. Sea Limited Sponsored ADR has a 12-month low of $77.05 and a 12-month high of $199.30.

SEA (NYSE:SE) last announced its quarterly earnings data on Tuesday, May 12th. The Internet company based in Singapore reported $0.67 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.75 by ($0.08). The company had revenue of $7.10 billion for the quarter, compared to the consensus estimate of $6.46 billion. SEA had a net margin of 6.41% and a return on equity of 14.12%. The company’s revenue was up 46.6% compared to the same quarter last year. During the same quarter last year, the firm posted $0.65 earnings per share. As a group, equities research analysts expect that Sea Limited Sponsored ADR will post 3.33 EPS for the current year.

Wall Street Analyst Weigh In

A number of research firms have issued reports on SE. Morgan Stanley set a $121.00 price target on SEA and gave the company an “overweight” rating in a research note on Friday, March 13th. Bank of America reiterated a “buy” rating and set a $125.00 price objective on shares of SEA in a research note on Monday, March 9th. Barclays boosted their price objective on SEA from $120.00 to $122.00 and gave the company an “overweight” rating in a research note on Thursday, May 14th. TD Cowen boosted their price objective on SEA from $100.00 to $108.00 and gave the company a “hold” rating in a research note on Wednesday, May 13th. Finally, Jefferies Financial Group reiterated a “buy” rating on shares of SEA in a research note on Tuesday, May 12th. One equities research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and four have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $155.54.

SEA Profile

Sea Limited (NYSE: SE) is a Singapore-based consumer internet company that operates a trio of interconnected businesses across digital entertainment, e-commerce and digital financial services. Founded in 2009 as Garena and later rebranded as Sea, the company is headquartered in Singapore and listed on the New York Stock Exchange. Sea positions itself as a technology platform focused on enabling online consumers, merchants and developers primarily across Southeast Asia and adjacent markets.

Sea’s digital entertainment arm, Garena, is a game developer and publisher that also organizes esports initiatives and operates online gaming platforms.