Connor Clark & Lunn Investment Management Ltd. Sells 514,963 Shares of Sea Limited (NYSE:SE)

Connor Clark & Lunn Investment Management Ltd. lowered its stake in Sea Limited (NYSE:SE) by 47.7% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 565,473 shares of the Internet company based in Singapore’s stock after selling 514,963 shares during the period. Connor Clark & Lunn Investment Management Ltd. owned approximately 0.10% of SEA worth $53,313,000 as of its most recent SEC filing.

Other large investors also recently added to or reduced their stakes in the company. Kaizen Investment Management Pte. Ltd. purchased a new position in shares of SEA in the 3rd quarter worth approximately $587,544,000. WCM Investment Management LLC lifted its position in SEA by 35.9% in the third quarter. WCM Investment Management LLC now owns 20,902,378 shares of the Internet company based in Singapore’s stock worth $1,971,303,000 after buying an additional 5,517,559 shares during the last quarter. Baillie Gifford & Co. lifted its position in SEA by 15.5% in the third quarter. Baillie Gifford & Co. now owns 39,564,018 shares of the Internet company based in Singapore’s stock worth $3,730,096,000 after buying an additional 5,295,590 shares during the last quarter. Eminence Capital LP increased its position in SEA by 45.2% during the second 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, Clearbridge Investments LLC purchased a new stake in shares of SEA in the second quarter valued at $99,989,000. 59.53% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of research firms recently commented on SE. Dbs Bank raised shares of SEA from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, November 13th. JPMorgan Chase & Co. raised SEA from a “neutral” rating to an “overweight” rating and upped their target price for the company from $66.00 to $90.00 in a research note on Wednesday, August 14th. Barclays raised their price target on SEA from $94.00 to $131.00 and gave the stock an “overweight” rating in a research note on Thursday, November 14th. Wedbush reaffirmed an “outperform” rating and issued a $105.00 price objective (up previously from $84.00) on shares of SEA in a research report on Monday, November 4th. Finally, Benchmark lifted their target price on SEA from $94.00 to $130.00 and gave the stock a “buy” rating in a research report on Wednesday, November 13th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, SEA presently has an average rating of “Moderate Buy” and an average price target of $91.21.

SEA Stock Up 4.6 %

NYSE:SE opened at $113.68 on Wednesday. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.62 and a quick ratio of 1.60. Sea Limited has a 1-year low of $34.35 and a 1-year high of $117.52. The company has a 50-day moving average of $95.29 and a 200 day moving average of $80.19. The firm has a market cap of $65.06 billion, a PE ratio of 757.87 and a beta of 1.52.

SEA (NYSE:SE) last announced its quarterly earnings results on Tuesday, November 12th. The Internet company based in Singapore reported $0.24 earnings per share for the quarter, missing the consensus estimate of $0.59 by ($0.35). The business had revenue of $4.33 billion during the quarter, compared to analysts’ expectations of $4.09 billion. SEA had a return on equity of 1.40% and a net margin of 0.64%. SEA’s revenue for the quarter was up 30.8% on a year-over-year basis. During the same period in the previous year, the company posted ($0.26) EPS. As a group, research analysts anticipate that Sea Limited will post 0.8 EPS for the current fiscal year.

SEA Profile

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.