State of New Jersey Common Pension Fund D Reduces Holdings in Sea Limited (NYSE:SE)

State of New Jersey Common Pension Fund D decreased its position in shares of Sea Limited (NYSE:SE) by 34.3% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 216,800 shares of the Internet company based in Singapore’s stock after selling 113,352 shares during the quarter. State of New Jersey Common Pension Fund D’s holdings in SEA were worth $8,780,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Maryland State Retirement & Pension System grew its holdings in shares of SEA by 2.2% during the third quarter. Maryland State Retirement & Pension System now owns 12,427 shares of the Internet company based in Singapore’s stock worth $546,000 after buying an additional 271 shares during the last quarter. Sunbelt Securities Inc. increased its position in SEA by 91.4% during the 3rd quarter. Sunbelt Securities Inc. now owns 670 shares of the Internet company based in Singapore’s stock worth $29,000 after purchasing an additional 320 shares during the period. UMB Bank n.a. increased its position in SEA by 70.9% during the 4th quarter. UMB Bank n.a. now owns 788 shares of the Internet company based in Singapore’s stock worth $32,000 after purchasing an additional 327 shares during the period. Meiji Yasuda Asset Management Co Ltd. increased its position in SEA by 4.3% during the 3rd quarter. Meiji Yasuda Asset Management Co Ltd. now owns 8,662 shares of the Internet company based in Singapore’s stock worth $381,000 after purchasing an additional 360 shares during the period. Finally, Cigna Investments Inc. New increased its position in SEA by 6.0% during the 4th quarter. Cigna Investments Inc. New now owns 7,119 shares of the Internet company based in Singapore’s stock worth $288,000 after purchasing an additional 401 shares during the period. Hedge funds and other institutional investors own 59.53% of the company’s stock.

SEA Stock Performance

Shares of NYSE:SE traded up $0.03 during trading hours on Friday, hitting $62.86. The stock had a trading volume of 4,640,841 shares, compared to its average volume of 6,556,255. Sea Limited has a 1-year low of $34.35 and a 1-year high of $88.39. The company has a debt-to-equity ratio of 0.46, a quick ratio of 1.43 and a current ratio of 1.44. The firm has a market capitalization of $35.50 billion, a price-to-earnings ratio of 261.38 and a beta of 1.50. The stock’s fifty day simple moving average is $54.23 and its 200 day simple moving average is $45.04.

SEA (NYSE:SE) last posted its quarterly earnings data on Monday, March 4th. The Internet company based in Singapore reported ($0.19) EPS for the quarter, missing analysts’ consensus estimates of ($0.06) by ($0.13). SEA had a net margin of 1.27% and a return on equity of 2.54%. The company had revenue of $3.62 billion for the quarter, compared to analyst estimates of $3.57 billion. During the same quarter in the prior year, the business earned $0.72 EPS. SEA’s revenue was up 5.7% compared to the same quarter last year. Sell-side analysts anticipate that Sea Limited will post 0.72 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on the company. Sanford C. Bernstein boosted their target price on SEA from $60.00 to $70.00 and gave the stock an “outperform” rating in a research report on Thursday, March 14th. HSBC boosted their price target on SEA from $70.00 to $76.00 and gave the stock a “buy” rating in a research note on Tuesday, March 5th. JPMorgan Chase & Co. raised SEA from a “neutral” rating to an “overweight” rating and boosted their price target for the stock from $43.00 to $70.00 in a research note on Tuesday, March 5th. Citigroup raised SEA from a “neutral” rating to a “buy” rating and boosted their price target for the stock from $44.00 to $50.00 in a research note on Thursday, February 1st. Finally, Daiwa Capital Markets raised SEA from a “neutral” rating to a “buy” rating in a research note on Friday, February 2nd. Three investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. Based on data from MarketBeat, SEA has a consensus rating of “Moderate Buy” and a consensus target price of $70.00.

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.