BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp Trims Position in KE Holdings Inc. (NYSE:BEKE)

BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp lessened its stake in shares of KE Holdings Inc. (NYSE:BEKE) by 24.3% in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 935,250 shares of the company’s stock after selling 300,000 shares during the quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp owned about 0.08% of KE worth $13,234,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in the stock. Bank of Montreal Can grew its holdings in KE by 54.5% during the 2nd quarter. Bank of Montreal Can now owns 98,600 shares of the company’s stock valued at $1,395,000 after buying an additional 34,800 shares in the last quarter. Public Sector Pension Investment Board grew its holdings in KE by 1.8% during the 2nd quarter. Public Sector Pension Investment Board now owns 222,826 shares of the company’s stock valued at $3,153,000 after buying an additional 4,000 shares in the last quarter. XTX Topco Ltd purchased a new position in KE during the 2nd quarter valued at about $392,000. Seven Eight Capital LP bought a new stake in shares of KE during the 2nd quarter valued at about $726,000. Finally, Hsbc Holdings PLC boosted its position in shares of KE by 8.9% during the 2nd quarter. Hsbc Holdings PLC now owns 2,196,325 shares of the company’s stock valued at $31,056,000 after acquiring an additional 179,253 shares during the last quarter. Hedge funds and other institutional investors own 39.34% of the company’s stock.

Analyst Ratings Changes

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

KE Trading Up 9.6 %

Shares of BEKE opened at $16.93 on Wednesday. The stock has a 50-day moving average price of $14.33 and a 200-day moving average price of $14.98. The company has a market cap of $20.88 billion, a PE ratio of 41.29, a price-to-earnings-growth ratio of 3.13 and a beta of -0.74. KE Holdings Inc. has a 12-month low of $12.44 and a 12-month high of $20.48.

KE (NYSE:BEKE) last released its earnings results on Monday, August 12th. The company reported $2.28 earnings per share for the quarter, topping analysts’ consensus estimates of $0.22 by $2.06. The company had revenue of $23.37 billion during the quarter, compared to the consensus estimate of $21.51 billion. KE had a return on equity of 6.74% and a net margin of 5.32%. KE’s quarterly revenue was up 19.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.17 EPS. As a group, analysts predict that KE Holdings Inc. will post 0.68 earnings per share for the current 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.