SEA (NYSE:SE) Stock Price Down 5.1% – Here’s What Happened

Sea Limited Sponsored ADR (NYSE:SE)’s stock price dropped 5.1% on Tuesday . The stock traded as low as $105.03 and last traded at $105.5190. Approximately 959,342 shares changed hands during mid-day trading, a decline of 82% from the average daily volume of 5,419,181 shares. The stock had previously closed at $111.24.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on the company. Wedbush reduced their price objective on SEA from $190.00 to $170.00 and set an “outperform” rating for the company in a research report on Friday, December 19th. Morgan Stanley reaffirmed an “overweight” rating and issued a $173.00 price objective on shares of SEA in a report on Wednesday, February 11th. Zacks Research downgraded shares of SEA from a “hold” rating to a “strong sell” rating in a research report on Wednesday, December 10th. Phillip Securities upgraded shares of SEA from a “hold” rating to a “strong-buy” rating in a research note on Sunday, November 16th. Finally, Barclays increased their price target on SEA from $214.00 to $226.00 and gave the company an “overweight” rating in a research note on Thursday, November 13th. One research analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, SEA has an average rating of “Moderate Buy” and an average price target of $189.84.

SEA Stock Down 4.4%

The company has a quick ratio of 1.42, a current ratio of 1.44 and a debt-to-equity ratio of 0.03. The company has a market capitalization of $62.63 billion, a price-to-earnings ratio of 46.67 and a beta of 1.59. The business has a 50-day moving average price of $121.58 and a 200-day moving average price of $149.90.

SEA announced that its board has initiated a share buyback plan on Monday, November 17th that permits the company to buyback $0.00 in outstanding shares. This buyback authorization permits the Internet company based in Singapore to reacquire shares of its stock through open market purchases. Stock buyback plans are usually a sign that the company’s board of directors believes its shares are undervalued.

Institutional Trading of SEA

A number of hedge funds have recently modified their holdings of the business. Salomon & Ludwin LLC lifted its stake in SEA by 2,860.0% in the 3rd quarter. Salomon & Ludwin LLC now owns 148 shares of the Internet company based in Singapore’s stock worth $27,000 after acquiring an additional 143 shares in the last quarter. Sound Income Strategies LLC bought a new stake in shares of SEA during the 3rd quarter worth $29,000. Rothschild Investment LLC grew its position in shares of SEA by 114.0% in the third quarter. Rothschild Investment LLC now owns 199 shares of the Internet company based in Singapore’s stock valued at $36,000 after purchasing an additional 106 shares during the last quarter. Zions Bancorporation National Association UT grew its holdings in SEA by 539.6% in the 4th quarter. Zions Bancorporation National Association UT now owns 307 shares of the Internet company based in Singapore’s stock valued at $39,000 after buying an additional 259 shares during the last quarter. Finally, Holos Integrated Wealth LLC acquired a new stake in shares of SEA in the fourth quarter worth $44,000. Hedge funds and other institutional investors own 59.53% of the company’s stock.

SEA Company Profile

Sea Limited (NYSE: SE) is a Singapore-based consumer internet company that operates a trio of interconnected businesses across digital entertainment, e-commerce and digital financial services. Founded in 2009 as Garena and later rebranded as Sea, the company is headquartered in Singapore and listed on the New York Stock Exchange. Sea positions itself as a technology platform focused on enabling online consumers, merchants and developers primarily across Southeast Asia and adjacent markets.

Sea’s digital entertainment arm, Garena, is a game developer and publisher that also organizes esports initiatives and operates online gaming platforms.