Aspex Management HK Ltd Makes New $120 Million Investment in KE Holdings Inc. (NYSE:BEKE)

Aspex Management HK Ltd purchased a new position in shares of KE Holdings Inc. (NYSE:BEKE - Free Report) during the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor purchased 6,514,463 shares of the company's stock, valued at approximately $119,996,000. KE accounts for 3.2% of Aspex Management HK Ltd's holdings, making the stock its 12th biggest position. Aspex Management HK Ltd owned about 0.54% of KE at the end of the most recent quarter.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. TT International Asset Management LTD bought a new position in KE during the 4th quarter valued at $717,000. Headwater Capital Co Ltd bought a new position in shares of KE during the fourth quarter valued at about $11,052,000. ABS Direct Equity Fund LLC boosted its holdings in KE by 284.5% during the fourth quarter. ABS Direct Equity Fund LLC now owns 84,200 shares of the company's stock worth $1,551,000 after purchasing an additional 62,300 shares during the last quarter. China Universal Asset Management Co. Ltd. grew its position in KE by 55.0% in the 4th quarter. China Universal Asset Management Co. Ltd. now owns 169,000 shares of the company's stock worth $3,113,000 after purchasing an additional 60,000 shares in the last quarter. Finally, Virtu Financial LLC purchased a new stake in KE in the 3rd quarter valued at about $1,033,000. Institutional investors own 39.34% of the company's stock.

Analysts Set New Price Targets

Several brokerages have recently issued reports on BEKE. Jefferies Financial Group reaffirmed a "buy" rating on shares of KE in a research report on Tuesday, March 18th. Morgan Stanley lifted their price objective on shares of KE from $19.00 to $27.00 and gave the stock an "overweight" rating in a research report on Wednesday, March 19th. Finally, UBS Group downgraded shares of KE from a "buy" rating to a "neutral" rating and increased their target price for the company from $22.70 to $24.50 in a research report on Thursday, March 20th. One analyst has rated the stock with a hold rating and five have given a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $27.26.

KE Trading Down 1.3 %

Shares of NYSE BEKE traded down $0.28 during midday trading on Tuesday, hitting $20.56. The company's stock had a trading volume of 4,978,288 shares, compared to its average volume of 9,523,779. The stock has a fifty day moving average price of $20.94 and a 200 day moving average price of $19.82. The firm has a market capitalization of $24.84 billion, a price-to-earnings ratio of 41.95, a P/E/G ratio of 3.45 and a beta of -0.73. KE Holdings Inc. has a one year low of $12.92 and a one year high of $26.05.

KE Increases Dividend

The business also recently declared a -- dividend, which was paid on Friday, April 25th. Stockholders of record on Wednesday, April 9th were given a $0.36 dividend. The ex-dividend date was Wednesday, April 9th. This is a boost from KE's previous -- dividend of $0.17. This represents a dividend yield of 1.4%. KE's payout ratio is 64.58%.

About KE

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.