Zacks Investment Research Downgrades SEA (NYSE:SE) to Sell
According to Zacks, “Sea Limited is an internet service provider company. It offers Digital Entertainment, E-Commerce and Digital Financial Services known as Garena, Shopee and AirPay. The company operates primarily in Indonesia, Taiwan, Vietnam, Thailand, Philippines, Malaysia and Singapore. Sea Limited is based in Singapore. “
Other research analysts have also issued reports about the company. Cowen increased their price objective on SEA from $67.00 to $77.00 and gave the stock an outperform rating in a research report on Tuesday, May 19th. Piper Sandler increased their price objective on SEA from $62.00 to $73.00 and gave the stock an overweight rating in a research report on Tuesday, May 19th. CLSA upgraded SEA from an underperform rating to an outperform rating and set a $74.00 price objective for the company in a research report on Tuesday, May 19th. Stifel Nicolaus lowered SEA from a buy rating to a hold rating and increased their price objective for the stock from $55.00 to $62.00 in a research report on Thursday, May 14th. Finally, ValuEngine upgraded SEA from a hold rating to a buy rating in a research report on Thursday, April 2nd. One research analyst has rated the stock with a sell rating, two have given a hold rating, seven have given a buy rating and one has given a strong buy rating to the company’s stock. The company currently has a consensus rating of Buy and a consensus target price of $58.33.
SEA (NYSE:SE) last posted its quarterly earnings results on Monday, May 18th. The Internet company based in Singapore reported ($0.52) EPS for the quarter, missing the consensus estimate of ($0.38) by ($0.14). SEA had a negative net margin of 41.46% and a negative return on equity of 83.74%. The company had revenue of $913.90 million during the quarter, compared to analyst estimates of $890.94 million. During the same period in the prior year, the business posted ($0.64) EPS. SEA’s revenue for the quarter was up 57.9% compared to the same quarter last year. As a group, sell-side analysts forecast that SEA will post -2.68 EPS for the current year.
Hedge funds and other institutional investors have recently made changes to their positions in the company. First Trust Advisors LP acquired a new stake in shares of SEA in the 1st quarter valued at about $301,000. Bank of Montreal Can raised its holdings in SEA by 14.7% during the 4th quarter. Bank of Montreal Can now owns 8,635 shares of the Internet company based in Singapore’s stock worth $348,000 after purchasing an additional 1,106 shares during the last quarter. Pacer Advisors Inc. raised its holdings in SEA by 40.4% during the 4th quarter. Pacer Advisors Inc. now owns 1,488 shares of the Internet company based in Singapore’s stock worth $60,000 after purchasing an additional 428 shares during the last quarter. Great West Life Assurance Co. Can raised its holdings in SEA by 26.7% during the 4th quarter. Great West Life Assurance Co. Can now owns 27,863 shares of the Internet company based in Singapore’s stock worth $1,110,000 after purchasing an additional 5,863 shares during the last quarter. Finally, Paradice Investment Management LLC raised its holdings in SEA by 17.9% during the 4th quarter. Paradice Investment Management LLC now owns 37,271 shares of the Internet company based in Singapore’s stock worth $1,499,000 after purchasing an additional 5,649 shares during the last quarter. Institutional investors and hedge funds own 68.88% of the company’s stock.
Sea Limited engages in the digital entertainment, e-commerce, and digital financial service businesses in Taiwan, Thailand, Vietnam, Indonesia, and internationally. It provides Garena digital entertainment platform for users to access mobile and PC online games, and eSports operations; and access to other entertainment content, such as live streaming of online gameplay and social features.
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