KE (NYSE:BEKE) Shares Down 9.1% – Here’s What Happened

KE Holdings Inc. (NYSE:BEKE) shares dropped 9.1% during trading on Friday . The company traded as low as $20.75 and last traded at $21.35. Approximately 5,812,508 shares were traded during mid-day trading, a decline of 38% from the average daily volume of 9,401,285 shares. The stock had previously closed at $23.50.

Analyst Ratings Changes

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

KE Price Performance

The stock has a 50-day moving average price of $19.31 and a 200-day moving average price of $16.82. The company has a market capitalization of $25.66 billion, a P/E ratio of 43.73, a P/E/G ratio of 4.94 and a beta of -0.73.

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

Institutional Investors Weigh In On KE

A number of hedge funds have recently added to or reduced their stakes in BEKE. Price T Rowe Associates Inc. MD raised 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 worth $526,734,000 after purchasing an additional 4,736,152 shares during the last quarter. Capital World Investors raised its position in KE by 5.8% in the 1st quarter. Capital World Investors now owns 14,666,625 shares of the company’s stock valued at $201,373,000 after buying an additional 804,773 shares during the last quarter. M&G PLC lifted its stake in KE by 16.4% during the 3rd quarter. M&G PLC now owns 10,090,834 shares of the company’s stock valued at $201,817,000 after acquiring an additional 1,422,667 shares in the last quarter. M&G Plc purchased a new position in KE during the 1st quarter worth $135,880,000. Finally, Turiya Advisors Asia Ltd grew its stake in shares of KE by 56.2% in the 2nd quarter. Turiya Advisors Asia Ltd now owns 5,070,206 shares of the company’s stock worth $71,743,000 after acquiring an additional 1,824,206 shares in the last quarter. Institutional investors and hedge funds 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.