Penserra Capital Management LLC Trims Holdings in Sea Limited (NYSE:SE)

Penserra Capital Management LLC trimmed its position in shares of Sea Limited (NYSE:SE) by 16.5% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 290,019 shares of the Internet company based in Singapore’s stock after selling 57,380 shares during the quarter. Penserra Capital Management LLC owned approximately 0.05% of SEA worth $16,832,000 at the end of the most recent quarter.

Several other large investors have also bought and sold shares of SE. IFP Advisors Inc lifted its position in SEA by 16.4% in the 2nd quarter. IFP Advisors Inc now owns 1,531 shares of the Internet company based in Singapore’s stock valued at $25,000 after acquiring an additional 216 shares in the last quarter. Glassman Wealth Services increased its stake in shares of SEA by 120.1% in the 1st quarter. Glassman Wealth Services now owns 306 shares of the Internet company based in Singapore’s stock worth $26,000 after purchasing an additional 167 shares in the last quarter. Geneos Wealth Management Inc. increased its stake in shares of SEA by 204.8% in the 2nd quarter. Geneos Wealth Management Inc. now owns 506 shares of the Internet company based in Singapore’s stock worth $29,000 after purchasing an additional 340 shares in the last quarter. First Horizon Advisors Inc. increased its stake in SEA by 135.7% in the 1st quarter. First Horizon Advisors Inc. now owns 495 shares of the Internet company based in Singapore’s stock worth $43,000 after buying an additional 285 shares in the last quarter. Finally, Laffer Tengler Investments bought a new position in shares of SEA during the 1st quarter valued at about $66,000. 72.05% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on the stock. Barclays lowered their price target on shares of SEA from $98.00 to $64.00 and set an “overweight” rating for the company in a report on Wednesday, August 16th. KGI Securities lowered shares of SEA from an “outperform” rating to a “neutral” rating and set a $42.00 target price on the stock. in a research report on Thursday, August 24th. Bank of America cut their price objective on shares of SEA from $73.00 to $53.00 and set a “neutral” rating on the stock in a report on Wednesday, August 16th. Wedbush reissued an “outperform” rating and set a $48.00 price objective on shares of SEA in a report on Wednesday, September 6th. Finally, Benchmark cut their price objective on shares of SEA from $95.00 to $65.00 and set a “buy” rating on the stock in a report on Wednesday, November 15th. Nine equities research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $67.25.

SEA Stock Performance

Shares of NYSE:SE traded down $0.54 on Tuesday, hitting $37.98. 594,253 shares of the company were exchanged, compared to its average volume of 6,180,425. Sea Limited has a 1-year low of $34.87 and a 1-year high of $88.84. The stock’s 50 day moving average price is $41.92 and its 200 day moving average price is $52.26. The company has a current ratio of 1.70, a quick ratio of 1.73 and a debt-to-equity ratio of 0.52. The firm has a market capitalization of $21.45 billion, a P/E ratio of 33.51 and a beta of 1.70.

SEA (NYSE:SE) last posted its earnings results on Tuesday, November 14th. The Internet company based in Singapore reported ($0.26) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.12 by ($0.38). The business had revenue of $3.31 billion for the quarter, compared to analyst estimates of $3.17 billion. SEA had a net margin of 5.44% and a return on equity of 11.14%. The company’s revenue for the quarter was up 4.9% on a year-over-year basis. During the same quarter in the prior year, the firm earned ($1.02) earnings per share. Sell-side analysts predict that Sea Limited will post 1.09 EPS 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 eSports operations.