Asset Management One Co. Ltd. Reduces Holdings in KE Holdings Inc. (NYSE:BEKE)

Asset Management One Co. Ltd. trimmed its holdings in shares of KE Holdings Inc. (NYSE:BEKE) by 5.1% in the third quarter, HoldingsChannel reports. The firm owned 93,442 shares of the company’s stock after selling 4,978 shares during the period. Asset Management One Co. Ltd.’s holdings in KE were worth $1,860,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Blue Trust Inc. increased its stake in shares of KE by 2,662.2% during the 2nd quarter. Blue Trust Inc. now owns 3,287 shares of the company’s stock worth $45,000 after purchasing an additional 3,168 shares in the last quarter. Signaturefd LLC increased its stake in shares of KE by 12.5% during the 2nd quarter. Signaturefd LLC now owns 7,781 shares of the company’s stock worth $110,000 after purchasing an additional 866 shares in the last quarter. US Bancorp DE boosted its position in KE by 41.6% during the third quarter. US Bancorp DE now owns 6,203 shares of the company’s stock worth $124,000 after acquiring an additional 1,823 shares during the last quarter. Vanguard Personalized Indexing Management LLC acquired a new stake in KE during the second quarter worth approximately $146,000. Finally, QRG Capital Management Inc. boosted its position in KE by 11.3% during the first quarter. QRG Capital Management Inc. now owns 13,357 shares of the company’s stock worth $183,000 after acquiring an additional 1,360 shares during the last quarter. 39.34% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on the stock. Citigroup assumed coverage on shares of KE in a research report on Tuesday, September 10th. They set a “buy” rating and a $23.80 target price on the stock. Bank of America upgraded shares of KE from a “neutral” rating to a “buy” rating and raised their target price for the stock from $24.00 to $28.00 in a research report on Wednesday, October 30th. Four research analysts have rated the stock with a buy rating, According to data from MarketBeat, KE presently has an average rating of “Buy” and a consensus target price of $25.90.

KE Stock Down 10.7 %

Shares of BEKE opened at $20.99 on Friday. The firm has a market cap of $25.66 billion, a PE ratio of 43.73, a price-to-earnings-growth ratio of 4.94 and a beta of -0.73. The company’s fifty day moving average is $19.31 and its two-hundred day moving average is $16.82. KE Holdings Inc. has a fifty-two week low of $12.44 and a fifty-two week high of $26.05.

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

KE 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.