11 Best Asian Stocks to Buy

2. Sea Limited (NYSE:SE)

Number of Hedge Fund Holders: 104

Return since September 2021: -81.1%

Ranking second on the list of 11 best Asian stocks to buy now is Sea Limited (NYSE:SE). The Singapore-based tech conglomerate was founded in 2009. The company operates as a holding company for Shopee, SeaMoney, and Garena.

On September 17th, Stifel analyst Scott Devitt upgraded Sea Limited (NYSE:SE) to a Buy rating from a Hold rating with a $400 per share price target.

The company has a market cap of $124.98 billion. In the second quarter of 2021, Sea Limited (NYSE:SE) reported an EPS of -$0.61, missing estimates by -$0.12. However, the company’s second-quarter revenue came in at $2.28 billion, beating estimates by $262.88 million. Shares of Sea Limited (NYSE:SE) jumped 130.02% in the last twelve months and 72.27% year-to-date.

By the end of the second quarter of 2021, 104 hedge funds out of the 873 tracked by Insider Monkey held stakes in Sea Limited (NYSE:SE) worth roughly $12.20 billion. This is compared to 98 hedge funds in the previous quarter with a total stake value of approximately $10.43 billion.

Tao Value mentioned Sea Limited (NYSE:SE) in its Q2 2021 investor letter:

“Sea continued to execute above expectation. The gaming business continued strong momentum, recording bookings of $1.1 billion, growing 117% y-o-y. The major franchise Free Fire showed no sign of slowing down in established ASEAN & LatAm market and received positive reception from new markets

like US. On e-commerce side, Shopee demonstrated early success in expanding to Brazil, by adopting a low-price category & gamification strategy. For 2021, Shopee is now top downloaded e-commerce app in Brazil, almost 2x of the second-place local leader Mercado Libre (MELI). I also see the most promising development is in its FinTech business – SeaMoney, which more than doubled its revenue in Q1 2021 from the previous quarter! With online lending products rolling out, SeaMoney is poised to grow rapidly, becoming the 3rd growth curve for Sea.”