Van ECK Associates Corp Lowers Stake in KE Holdings Inc. (NYSE:BEKE)

Van ECK Associates Corp cut its stake in KE Holdings Inc. (NYSE:BEKE) by 9.3% during the third quarter, HoldingsChannel reports. The fund owned 652,597 shares of the company’s stock after selling 66,942 shares during the quarter. Van ECK Associates Corp’s holdings in KE were worth $13,476,000 as of its most recent SEC filing.

Other large investors have also recently made changes to their positions in the company. Price T Rowe Associates Inc. MD grew its holdings in 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 increased its position in KE by 5.8% during 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 in the last quarter. M&G Plc purchased a new stake in KE in the first quarter valued at about $135,880,000. Turiya Advisors Asia Ltd boosted its holdings in KE by 56.2% in the second 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. Finally, RWC Asset Advisors US LLC purchased a new stake in shares of KE during the second quarter worth about $70,807,000. 39.34% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

BEKE has been the subject of several research analyst reports. Bank of America raised shares of KE from a “neutral” rating to a “buy” rating and increased their price objective for the company from $24.00 to $28.00 in a research report on Wednesday, October 30th. Citigroup assumed coverage on shares of KE in a report on Tuesday, September 10th. They issued a “buy” rating and a $23.80 price target for the company. Four investment analysts have rated the stock with a buy rating, According to MarketBeat.com, the company presently has an average rating of “Buy” and an average price target of $25.90.

KE Stock Up 1.9 %

KE stock opened at $22.60 on Wednesday. The stock has a 50-day moving average price of $18.67 and a 200 day moving average price of $16.58. The company has a market capitalization of $27.63 billion, a price-to-earnings ratio of 47.08, a price-to-earnings-growth ratio of 4.86 and a beta of -0.73. KE Holdings Inc. has a 52 week low of $12.44 and a 52 week high of $26.05.

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