Coronation Fund Managers Ltd. Acquires 203,053 Shares of Sea Limited (NYSE:SE)

Coronation Fund Managers Ltd. increased its position in Sea Limited (NYSE:SE - Free Report) by 26.1% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 981,118 shares of the Internet company based in Singapore's stock after acquiring an additional 203,053 shares during the quarter. SEA comprises approximately 5.1% of Coronation Fund Managers Ltd.'s holdings, making the stock its 5th biggest position. Coronation Fund Managers Ltd. owned about 0.17% of SEA worth $92,500,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in SE. Baillie Gifford & Co. boosted its stake in SEA by 0.4% in the 2nd quarter. Baillie Gifford & Co. now owns 34,268,428 shares of the Internet company based in Singapore's stock worth $2,447,451,000 after purchasing an additional 148,980 shares during the period. Kaizen Investment Management Pte. Ltd. bought a new position in shares of SEA during the 3rd quarter valued at approximately $587,544,000. Kora Management LP boosted its position in shares of SEA by 9.4% during the 1st quarter. Kora Management LP now owns 4,637,500 shares of the Internet company based in Singapore's stock valued at $249,080,000 after acquiring an additional 400,000 shares during the last quarter. Eminence Capital LP boosted its position in shares of SEA by 45.2% during the 2nd quarter. Eminence Capital LP now owns 4,522,441 shares of the Internet company based in Singapore's stock valued at $322,993,000 after acquiring an additional 1,408,314 shares during the last quarter. Finally, Kontiki Capital Management HK Ltd. boosted its position in shares of SEA by 1.9% during the 1st quarter. Kontiki Capital Management HK Ltd. now owns 3,744,416 shares of the Internet company based in Singapore's stock valued at $201,113,000 after acquiring an additional 68,900 shares during the last quarter. 59.53% of the stock is owned by hedge funds and other institutional investors.

SEA Stock Performance

Shares of SE stock traded up $1.33 during midday trading on Friday, hitting $95.38. The company had a trading volume of 3,977,035 shares, compared to its average volume of 2,824,468. The company's 50 day simple moving average is $89.93 and its 200 day simple moving average is $76.72. 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 $54.59 billion, a price-to-earnings ratio of -272.51 and a beta of 1.52. 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 (NYSE:SE - Get Free Report) last released its earnings results on Tuesday, August 13th. The Internet company based in Singapore reported $0.14 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 analyst estimates of $3.73 billion. During the same quarter in the previous year, the company posted $0.54 earnings per share. The business's revenue for the quarter was up 23.0% compared to the same quarter last year. Research analysts anticipate that Sea Limited will post 0.64 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several research firms have commented on SE. Benchmark lifted 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. Bank of America lifted their price objective on shares of SEA from $84.00 to $96.00 and gave the stock a "buy" rating in a research note on Monday, September 23rd. JPMorgan Chase & Co. raised shares of SEA from a "neutral" rating to an "overweight" rating and lifted their price objective for the stock from $66.00 to $90.00 in a research note on Wednesday, August 14th. Citigroup dropped their price objective on shares of SEA from $81.00 to $80.00 and set a "buy" rating for the company in a research note on Tuesday, July 23rd. Finally, TD Cowen lifted their price objective on shares of SEA from $64.00 to $69.00 and gave the stock a "hold" rating in a research note on Wednesday, August 14th. Three analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $80.92.

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 promotes eSports operations.