SEA (NYSE:SE) Shares Gap Up to $55.06

Shares of Sea Limited (NYSE:SE) gapped up before the market opened on Monday . The stock had previously closed at $55.06, but opened at $58.84. SEA shares last traded at $58.12, with a volume of 6,022,973 shares traded.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on SE shares. Morgan Stanley raised shares of SEA from an “equal weight” rating to an “overweight” rating and increased their price objective for the stock from $65.00 to $70.00 in a research report on Monday. Bank of America raised shares of SEA from a “neutral” rating to a “buy” rating and raised their target price for the company from $62.00 to $70.00 in a research report on Monday. Citigroup raised shares of SEA from a “neutral” rating to a “buy” rating and raised their target price for the company from $44.00 to $50.00 in a research report on Thursday, February 1st. Barclays raised their target price on shares of SEA from $59.00 to $68.00 and gave the company an “overweight” rating in a research report on Tuesday, March 5th. Finally, Daiwa Capital Markets raised shares of SEA from a “neutral” rating to a “buy” rating in a research report on Friday, February 2nd. Three equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $68.31.

SEA Trading Up 4.4 %

The business’s 50 day moving average price is $53.04 and its 200-day moving average price is $44.65. The company has a current ratio of 1.44, a quick ratio of 1.43 and a debt-to-equity ratio of 0.46. The company has a market cap of $35.03 billion, a price-to-earnings ratio of 258.46 and a beta of 1.50.

SEA (NYSE:SE) last posted its earnings results on Monday, March 4th. The Internet company based in Singapore reported ($0.19) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.06) by ($0.13). SEA had a return on equity of 2.54% and a net margin of 1.27%. 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 posted $0.72 EPS. The business’s quarterly revenue was up 5.7% compared to the same quarter last year. On average, equities analysts anticipate that Sea Limited will post 1.03 EPS for the current fiscal year.

Institutional Trading of SEA

Several hedge funds and other institutional investors have recently bought and sold shares of SE. CWM LLC raised its stake in SEA by 162.5% in the 3rd quarter. CWM LLC now owns 4,307 shares of the Internet company based in Singapore’s stock worth $189,000 after purchasing an additional 2,666 shares in the last quarter. IFP Advisors Inc increased its holdings in SEA by 42.7% in the 3rd quarter. IFP Advisors Inc now owns 2,185 shares of the Internet company based in Singapore’s stock valued at $96,000 after buying an additional 654 shares during the period. Summit Global Investments bought a new position in SEA in the 3rd quarter valued at about $371,000. Exchange Traded Concepts LLC increased its holdings in SEA by 48.0% in the 3rd quarter. Exchange Traded Concepts LLC now owns 237,216 shares of the Internet company based in Singapore’s stock valued at $10,426,000 after buying an additional 76,915 shares during the period. Finally, ARK Investment Management LLC increased its holdings in SEA by 7.5% in the 3rd quarter. ARK Investment Management LLC now owns 21,703 shares of the Internet company based in Singapore’s stock valued at $954,000 after buying an additional 1,508 shares during the period. Institutional investors and hedge funds own 59.53% of the company’s stock.

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.