KE (NYSE:BEKE) Shares Gap Down to $24.57

KE Holdings Inc. (NYSE:BEKE)’s share price gapped down prior to trading on Thursday . The stock had previously closed at $24.57, but opened at $23.27. KE shares last traded at $24.32, with a volume of 5,935,826 shares changing hands.

Wall Street Analysts Forecast Growth

Separately, Citigroup started coverage on shares of KE in a research note on Tuesday, September 10th. They set a “buy” rating and a $23.80 price target on the stock.

KE Stock Performance

The stock has a market cap of $30.80 billion, a price-to-earnings ratio of 60.00, a PEG ratio of 3.40 and a beta of -0.74. The business has a fifty day simple moving average of $15.12 and a 200 day simple moving average of $15.25.

KE (NYSE:BEKE) last posted its quarterly earnings data on Monday, August 12th. The company reported $2.28 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.22 by $2.06. KE had a return on equity of 6.74% and a net margin of 5.32%. The business had revenue of $23.37 billion for the quarter, compared to analysts’ expectations of $21.51 billion. During the same quarter last year, the firm earned $0.17 earnings per share. The business’s revenue was up 19.9% on a year-over-year basis. On average, equities research analysts anticipate that KE Holdings Inc. will post 0.68 EPS for the current fiscal year.

Hedge Funds Weigh In On KE

Hedge funds have recently made changes to their positions in the business. M&G Plc purchased a new stake in shares of KE during the 1st quarter valued at about $135,880,000. RWC Asset Advisors US LLC acquired a new position in shares of KE during the second quarter worth $70,807,000. Price T Rowe Associates Inc. MD boosted its stake in shares of KE by 14.1% in the first quarter. Price T Rowe Associates Inc. MD now owns 38,363,638 shares of the company’s stock valued at $526,734,000 after purchasing an additional 4,736,152 shares during the period. Coatue Management LLC grew its holdings in KE by 169.7% during the 4th quarter. Coatue Management LLC now owns 5,015,918 shares of the company’s stock valued at $81,308,000 after purchasing an additional 3,155,995 shares in the last quarter. Finally, Capital World Investors increased its stake in KE by 24.9% during the 4th quarter. Capital World Investors now owns 13,861,852 shares of the company’s stock worth $224,701,000 after buying an additional 2,763,209 shares during the period. Hedge funds and other institutional investors own 39.34% of the company’s stock.

KE Company Profile

KE Holdings Inc, through its subsidiaries, engages in operating an integrated online and offline platform for housing transactions and services in the People's Republic of China. It operates through four segments: Existing Home Transaction Services, New Home Transaction Services, Home Renovation and Furnishing, and Emerging and Other Services.