Massachusetts Financial Services Co. MA Trims Holdings in KE Holdings Inc. (NYSE:BEKE)

Massachusetts Financial Services Co. MA reduced its stake in KE Holdings Inc. (NYSE:BEKE) by 25.3% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 302,470 shares of the company’s stock after selling 102,553 shares during the quarter. Massachusetts Financial Services Co. MA’s holdings in KE were worth $4,280,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of BEKE. M&G Plc acquired a new position in shares of KE during the 1st quarter valued at about $135,880,000. RWC Asset Advisors US LLC acquired a new position in KE in the 2nd quarter valued at about $70,807,000. Price T Rowe Associates Inc. MD grew its stake in shares of KE by 14.1% in the 1st 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. Coatue Management LLC increased its holdings in shares of KE by 169.7% during the 4th quarter. Coatue Management LLC now owns 5,015,918 shares of the company’s stock worth $81,308,000 after buying an additional 3,155,995 shares during the last quarter. Finally, Capital World Investors raised its position in shares of KE by 24.9% during the 4th quarter. Capital World Investors now owns 13,861,852 shares of the company’s stock valued at $224,701,000 after buying an additional 2,763,209 shares during the period. 39.34% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research firms have issued reports on BEKE. Barclays raised their target price on KE from $28.00 to $30.00 and gave the stock an “overweight” rating in a research note on Wednesday, May 29th. Citigroup initiated coverage on KE in a research report on Tuesday, September 10th. They set a “buy” rating and a $23.80 price objective for the company.

KE Trading Down 5.6 %

BEKE stock opened at $14.37 on Friday. The business’s fifty day moving average price is $14.28 and its 200 day moving average price is $14.90. KE Holdings Inc. has a 12-month low of $12.44 and a 12-month high of $20.48. The company has a market capitalization of $17.72 billion, a PE ratio of 35.05, a P/E/G ratio of 3.13 and a beta of -0.74.

KE (NYSE:BEKE) last issued its quarterly earnings results on Monday, August 12th. The company reported $2.28 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.22 by $2.06. KE had a net margin of 5.32% and a return on equity of 6.74%. The business had revenue of $23.37 billion for the quarter, compared to analysts’ expectations of $21.51 billion. During the same quarter in the prior year, the company earned $0.17 earnings per share. The business’s quarterly revenue was up 19.9% on a year-over-year basis. Research analysts predict 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.