Rovida Advisors Inc. Acquires New Stake in KE Holdings Inc. Sponsored ADR $BEKE

Rovida Advisors Inc. bought a new position in KE Holdings Inc. Sponsored ADR (NYSE:BEKE) in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm bought 550,000 shares of the company’s stock, valued at approximately $9,752,000. KE makes up approximately 1.8% of Rovida Advisors Inc.’s investment portfolio, making the stock its 10th largest holding.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its holdings in KE by 299.4% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 7,323,774 shares of the company’s stock worth $147,135,000 after acquiring an additional 5,490,172 shares in the last quarter. Siren L.L.C. increased its holdings in shares of KE by 75.0% in the first quarter. Siren L.L.C. now owns 105,000 shares of the company’s stock worth $2,109,000 after purchasing an additional 45,000 shares during the last quarter. Acadian Asset Management LLC purchased a new stake in shares of KE during the 1st quarter worth approximately $1,479,000. Axiom Investors LLC DE purchased a new position in shares of KE in the 1st quarter worth $25,547,000. Finally, Bank of New York Mellon Corp increased its stake in KE by 13.4% during the first quarter. Bank of New York Mellon Corp now owns 741,494 shares of the company’s stock worth $14,897,000 after acquiring an additional 87,659 shares during the last quarter. Institutional investors own 39.34% of the company’s stock.

KE Price Performance

NYSE BEKE opened at $16.42 on Wednesday. The company’s 50 day simple moving average is $18.47 and its 200 day simple moving average is $18.62. KE Holdings Inc. Sponsored ADR has a 12 month low of $15.39 and a 12 month high of $25.17. The firm has a market capitalization of $19.56 billion, a PE ratio of 39.11, a P/E/G ratio of 2.92 and a beta of -0.64.

Analysts Set New Price Targets

BEKE has been the subject of several research analyst reports. Barclays decreased their target price on KE from $33.00 to $25.00 and set an “overweight” rating for the company in a research report on Friday, August 15th. Jefferies Financial Group set a $22.00 target price on shares of KE and gave the stock a “buy” rating in a report on Tuesday, August 26th. Weiss Ratings reiterated a “hold (c+)” rating on shares of KE in a research note on Wednesday, October 8th. JPMorgan Chase & Co. reduced their price target on shares of KE from $24.00 to $22.00 and set an “overweight” rating for the company in a research report on Tuesday, August 12th. Finally, UBS Group cut KE from a “buy” rating to a “neutral” rating and set a $19.00 price target for the company. in a research report on Friday, October 31st. Five equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $23.30.

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.