Mirae Asset Global Investments Co. Ltd. Makes New Investment in KE Holdings Inc. Sponsored ADR $BEKE

Mirae Asset Global Investments Co. Ltd. acquired a new stake in shares of KE Holdings Inc. Sponsored ADR (NYSE:BEKE) during the 3rd quarter, HoldingsChannel.com reports. The firm acquired 69,089 shares of the company’s stock, valued at approximately $1,164,000.

Several other hedge funds also recently modified their holdings of BEKE. Wellington Management Group LLP grew its position in KE by 16.0% during the 2nd quarter. Wellington Management Group LLP now owns 8,915,061 shares of the company’s stock worth $129,536,000 after acquiring an additional 1,231,445 shares during the last quarter. Baird Financial Group Inc. raised its position in KE by 5.8% in the second quarter. Baird Financial Group Inc. now owns 5,942,507 shares of the company’s stock valued at $86,345,000 after purchasing an additional 324,707 shares during the last quarter. Perseverance Asset Management International raised its position in KE by 20.4% in the first quarter. Perseverance Asset Management International now owns 1,391,439 shares of the company’s stock valued at $20,830,000 after purchasing an additional 236,000 shares during the last quarter. Carrhae Capital LLP bought a new position in KE in the second quarter valued at about $10,138,000. Finally, Robeco Institutional Asset Management B.V. boosted its stake in shares of KE by 56.5% during the third quarter. Robeco Institutional Asset Management B.V. now owns 630,660 shares of the company’s stock valued at $10,627,000 after purchasing an additional 227,616 shares in the last quarter. Institutional investors and hedge funds own 39.34% of the company’s stock.

Analyst Ratings Changes

A number of analysts have recently commented on BEKE shares. Weiss Ratings raised KE from a “hold (c)” rating to a “hold (c+)” rating in a research note on Friday, October 9th. CLSA assumed coverage on KE in a research note on Wednesday, August 19th. They issued an “outperform” rating and a $23.80 price objective for the company. Wall Street Zen upgraded shares of KE from a “hold” rating to a “buy” rating in a report on Saturday, August 29th. Zacks Research downgraded shares of KE from a “strong-buy” rating to a “hold” rating in a research report on Monday, October 26th. Finally, Morgan Stanley reissued an “overweight” rating on shares of KE in a report on Friday, August 21st. Six research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. According to MarketBeat.com, KE presently has a consensus rating of “Moderate Buy” and an average price target of $23.64.

KE Stock Performance

Shares of KE stock opened at $18.86 on Monday. The stock has a market cap of $21.60 billion, a price-to-earnings ratio of 30.91, a P/E/G ratio of 0.61 and a beta of -0.27. KE Holdings Inc. Sponsored ADR has a twelve month low of $13.81 and a twelve month high of $19.88. The company’s fifty day moving average is $17.25 and its 200 day moving average is $16.87. The company has a quick ratio of 3.30, a current ratio of 3.30 and a debt-to-equity ratio of 0.01.

KE (NYSE:BEKE) last announced its earnings results on Friday, August 21st. The company reported $0.42 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.31 by $0.11. The business had revenue of $3.61 billion during the quarter, compared to analyst estimates of $3.59 billion. KE had a return on equity of 7.62% and a net margin of 5.38%. Sell-side analysts forecast that KE Holdings Inc. Sponsored ADR will post 1.03 EPS for the current year.

Insider Transactions at KE

In other news, CEO Yongdong Peng sold 16,033,983 shares of the stock in a transaction dated Friday, September 25th. The stock was sold at an average price of $5.27, for a total value of $84,499,090.41. Following the completion of the sale, the chief executive officer 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 ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Yigang Shan sold 3,326,670 shares of the stock in a transaction dated 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 completion of the sale, the director directly owned 53,868,189 shares of the company’s stock, valued at approximately $293,042,948.16. The trade was a 5.82% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders own 6.80% of the company’s stock.

KE Profile

KE Holdings Inc operates Beike, a real estate services platform in China that connects consumers with agents and other housing service providers. Its services include existing-home and new-home sales, residential rentals, and related services such as property management and home renovation.

The company’s business traces its roots to Lianjia, a real estate brokerage founded in Beijing in 2001 by Zuo Hui. KE Holdings was established in 2018, and its Beike platform brings together Lianjia and other participating agencies.

KE Holdings serves customers across China.