CIBC Asset Management Inc Reduces Stock Holdings in Sea Limited (NYSE:SE)

CIBC Asset Management Inc recently decreased its position in Sea Limited (NYSE:SE) by 5.1% during the fourth quarter, as disclosed in the company’s latest SEC filing. The firm sold 1,768 shares, leaving them with 33,099 shares of the Singapore-based Internet company’s stock, valued at $1,341,000.

Several other hedge funds also made moves with SE shares. Victory Capital Management Inc increased its holdings by 15.2%, Charles Schwab Investment Management Inc by 3.4%, Mitsubishi UFJ Trust & Banking Corp by 14.6%, Andra AP fonden acquired a new stake, and Investment House LLC raised its holdings significantly. Currently, 59.53% of the stock is owned by institutional investors and hedge funds.

Analysts have set new price targets for SE, with various ratings ranging from “hold” to “buy.” The stock’s performance shows a positive trend, with a one-year low of $34.35 and a one-year high of $74.33.

SEA last reported its quarterly earnings on May 14th, with a net margin of 0.39% and a return on equity of 0.80%. The company’s revenue was $3.73 billion, surpassing the consensus estimate. Analysts predict earnings per share of 0.67 for the current year.

Sea Limited operates in digital entertainment, e-commerce, and digital financial services across several regions. The company’s Garena platform offers mobile and PC online games, as well as eSports operations.

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