KE (NYSE:BEKE) Shares Down 5.4%

KE Holdings Inc. (NYSE:BEKE)’s share price dropped 5.4% during mid-day trading on Friday . The stock traded as low as $14.38 and last traded at $14.40. Approximately 5,781,322 shares were traded during mid-day trading, a decline of 25% from the average daily volume of 7,695,704 shares. The stock had previously closed at $15.22.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on the stock. Citigroup assumed coverage on shares of KE in a research report on Tuesday, September 10th. They set a “buy” rating and a $23.80 target price on the stock. Barclays boosted their price objective on shares of KE from $28.00 to $30.00 and gave the stock an “overweight” rating in a report on Wednesday, May 29th.

KE Stock Performance

The firm has a market cap of $17.76 billion, a price-to-earnings ratio of 35.17, a PEG ratio of 3.13 and a beta of -0.74. The business’s 50-day moving average is $14.30 and its 200-day moving average is $14.89.

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

Institutional Trading of KE

Hedge funds and other institutional investors have recently modified their holdings of the stock. Price T Rowe Associates Inc. MD lifted 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 valued at $526,734,000 after buying an additional 4,736,152 shares during the period. Wellington Management Group LLP grew its stake in shares of KE by 12.0% during the fourth quarter. Wellington Management Group LLP now owns 18,807,246 shares of the company’s stock worth $304,865,000 after purchasing an additional 2,008,418 shares during the period. Capital World Investors grew its stake in shares of KE by 5.8% during the first quarter. Capital World Investors now owns 14,666,625 shares of the company’s stock worth $201,373,000 after purchasing an additional 804,773 shares during the period. M&G Plc acquired a new position in shares of KE during the 1st quarter worth about $135,880,000. Finally, Schroder Investment Management Group increased its stake in shares of KE by 2.1% in the 4th quarter. Schroder Investment Management Group now owns 5,534,372 shares of the company’s stock valued at $89,712,000 after acquiring an additional 113,910 shares during 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.