M&G PLC Buys 7,602 Shares of Sea Limited Sponsored ADR $SE

M&G PLC boosted its stake in shares of Sea Limited Sponsored ADR (NYSE:SE) by 2.7% during the third quarter, according to its most recent Form 13F filing with the SEC. The fund owned 291,229 shares of the Internet company based in Singapore’s stock after buying an additional 7,602 shares during the period. M&G PLC’s holdings in SEA were worth $28,249,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Carrhae Capital LLP purchased a new stake in SEA in the 2nd quarter valued at $140,501,000. Public Employees Retirement System of Ohio purchased a new position in shares of SEA during the 2nd quarter worth $37,527,000. Assenagon Asset Management S.A. raised its holdings in shares of SEA by 80.6% during the 3rd quarter. Assenagon Asset Management S.A. now owns 563,692 shares of the Internet company based in Singapore’s stock worth $54,881,000 after acquiring an additional 251,517 shares during the period. Livforsakringsbolaget Skandia Omsesidigt purchased a new position in shares of SEA during the 2nd quarter worth $12,410,000. Finally, Trek Financial LLC acquired a new position in shares of SEA during the 3rd quarter valued at about $11,844,000. Institutional investors and hedge funds own 59.53% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on SE shares. Wall Street Zen lowered shares of SEA from a “buy” rating to a “hold” rating in a report on Sunday, November 1st. TD Cowen restated a “hold” rating and set a $115.00 price objective (up from $100.00) on shares of SEA in a research report on Monday, August 17th. JPMorgan Chase & Co. reduced their target price on shares of SEA from $173.00 to $149.00 and set an “overweight” rating on the stock in a research note on Wednesday, October 28th. Sanford C. Bernstein reiterated an “outperform” rating on shares of SEA in a report on Monday, July 20th. Finally, New Street Research lowered shares of SEA from a “buy” rating to a “neutral” rating and set a $70.00 target price on the stock. in a report on Monday, October 26th. One equities research analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and four have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, SEA has a consensus rating of “Moderate Buy” and an average target price of $137.73.

Insiders Place Their Bets

In related news, insider Feng Zhao sold 40,000 shares of the firm’s stock in a transaction dated Thursday, October 1st. The stock was sold at an average price of $95.02, for a total transaction of $3,800,800.00. Following the completion of the sale, the insider directly owned 93,580 shares of the company’s stock, valued at approximately $8,891,971.60. This trade represents a 29.94% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Xiaodong Li sold 57,690 shares of the business’s stock in a transaction dated Tuesday, August 25th. The shares were sold at an average price of $122.28, for a total transaction of $7,054,333.20. Following the completion of the sale, the chief executive officer owned 1,232,992 shares in the company, valued at approximately $150,770,261.76. This trade represents a 4.47% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders have sold 874,436 shares of company stock valued at $97,383,458. 0.22% of the stock is owned by company insiders.

SEA Price Performance

SE stock opened at $78.02 on Tuesday. The business has a fifty day moving average of $94.01 and a two-hundred day moving average of $97.61. The company has a quick ratio of 1.48, a current ratio of 1.49 and a debt-to-equity ratio of 0.07. The stock has a market cap of $47.67 billion, a price-to-earnings ratio of 30.12, a price-to-earnings-growth ratio of 0.83 and a beta of 1.58. Sea Limited Sponsored ADR has a 52-week low of $71.53 and a 52-week high of $159.09.

SEA (NYSE:SE) last posted its earnings results on Tuesday, August 11th. The Internet company based in Singapore reported $0.70 EPS for the quarter, missing analysts’ consensus estimates of $0.86 by ($0.16). SEA had a net margin of 5.98% and a return on equity of 13.54%. The business had revenue of $7.79 billion during the quarter, compared to analysts’ expectations of $7.12 billion. During the same quarter in the prior year, the firm earned $0.65 EPS. SEA’s revenue for the quarter was up 48.3% compared to the same quarter last year. As a group, research analysts anticipate that Sea Limited Sponsored ADR will post 2.88 earnings per share for the current year.

SEA Profile

Sea Limited is a Singapore-based technology company operating digital entertainment, e-commerce and digital financial services businesses. Founded in 2009 as Garena, the company adopted the name Sea Limited in 2017.

Its digital entertainment business, Garena, publishes and develops online games and also provides a platform for users to access games and connect with other players. Shopee, Sea’s e-commerce platform, serves consumers and merchants in Southeast Asia and other markets, including Taiwan and parts of Latin America.

Sea also provides digital financial services through Monee, formerly known as SeaMoney.