KE (NYSE:BEKE – Get Free Report) was downgraded by research analysts at Zacks Research from a “strong-buy” rating to a “hold” rating in a note issued to investors on Monday, Zacks reports.
BEKE has been the topic of a number of other reports. Morgan Stanley reaffirmed an “overweight” rating on shares of KE in a research report on Friday, August 21st. CLSA assumed coverage on KE in a research note on Wednesday, August 19th. They set an “outperform” rating and a $23.80 target price for the company. Weiss Ratings raised shares of KE from a “hold (c)” rating to a “hold (c+)” rating in a research report on Friday, October 9th. Finally, Wall Street Zen upgraded shares of KE from a “hold” rating to a “buy” rating in a research note on Saturday, August 29th. Six research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, KE presently has an average rating of “Moderate Buy” and a consensus target price of $23.64.
KE Stock Up 0.0%
Shares of NYSE BEKE opened at $17.61 on Monday. KE has a 1 year low of $13.81 and a 1 year high of $19.88. The stock’s 50-day simple moving average is $17.17 and its 200-day simple moving average is $16.84.
KE (NYSE:BEKE – Get Free Report) last issued its quarterly earnings results on Friday, August 21st. The company reported $0.42 EPS for the quarter, beating analysts’ consensus estimates of $0.31 by $0.11. The business had revenue of $3.61 billion during the quarter, compared to analysts’ expectations of $3.59 billion. Research analysts forecast that KE will post 1.03 earnings per share for the current fiscal year.
Insider Activity at KE
In related news, CEO Yongdong Peng sold 16,033,983 shares of the company’s stock in a transaction that occurred on Friday, September 25th. The stock was sold at an average price of $5.27, for a total transaction of $84,499,090.41. Following the sale, the chief executive officer directly owned 62,824,251 shares of the company’s stock, valued at approximately $331,083,802.77. This represents a 20.33% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Yigang Shan sold 3,326,670 shares of the company’s stock in a transaction that occurred on Monday, September 21st. The shares were sold at an average price of $5.44, for a total value of $18,097,084.80. Following the sale, the director directly owned 53,868,189 shares in the company, valued at approximately $293,042,948.16. This represents a 5.82% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 6.80% of the stock is currently owned by company insiders.
Hedge Funds Weigh In On KE
A number of hedge funds have recently added to or reduced their stakes in the business. Wellington Management Group LLP raised its holdings in shares of KE by 16.0% during the second quarter. Wellington Management Group LLP now owns 8,915,061 shares of the company’s stock worth $129,536,000 after purchasing an additional 1,231,445 shares during the period. Baird Financial Group Inc. boosted its holdings in shares of KE by 5.8% in the 2nd quarter. Baird Financial Group Inc. now owns 5,942,507 shares of the company’s stock valued at $86,345,000 after buying an additional 324,707 shares during the period. Perseverance Asset Management International grew its position in shares of KE by 20.4% during the 1st quarter. Perseverance Asset Management International now owns 1,391,439 shares of the company’s stock valued at $20,830,000 after buying an additional 236,000 shares during the last quarter. Carrhae Capital LLP bought a new stake in shares of KE during the 2nd quarter valued at about $10,138,000. Finally, Robeco Institutional Asset Management B.V. grew its position in shares of KE by 56.5% during the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 630,660 shares of the company’s stock valued at $10,627,000 after buying an additional 227,616 shares during the last quarter. Institutional investors and hedge funds own 39.34% of the company’s stock.
About KE
KE Holdings Inc, also known as Beike, operates a technology-driven housing-services platform in China. The company connects consumers, housing agents, property developers and other service providers through online and offline channels.
Its business includes brokerage services for existing-home and new-home transactions, residential rentals, and related housing services. KE Holdings also provides home renovation and furnishing services, property management, and other services designed to support consumers throughout the residential real estate lifecycle.
The company’s platform supports a network of agents and stores and uses data, digital tools and standardized operating processes to facilitate property searches, transactions and related services.
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