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

Aspex Management HK Ltd acquired a new position in shares of KE Holdings Inc. (NYSE:BEKE - Free Report) in the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm acquired 6,514,463 shares of the company's stock, valued at approximately $119,996,000. KE comprises approximately 3.2% of Aspex Management HK Ltd's investment portfolio, making the stock its 12th biggest position. Aspex Management HK Ltd owned 0.54% of KE at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of BEKE. SBI Securities Co. Ltd. acquired a new stake in KE in the 4th quarter valued at approximately $30,000. Principal Securities Inc. lifted its stake in KE by 411.9% during the 4th quarter. Principal Securities Inc. now owns 2,068 shares of the company's stock worth $38,000 after acquiring an additional 1,664 shares in the last quarter. Rakuten Securities Inc. boosted its holdings in KE by 42.3% during the 4th quarter. Rakuten Securities Inc. now owns 4,762 shares of the company's stock valued at $88,000 after acquiring an additional 1,416 shares during the period. US Bancorp DE grew its position in KE by 42.3% in the 4th quarter. US Bancorp DE now owns 8,826 shares of the company's stock valued at $163,000 after acquiring an additional 2,623 shares in the last quarter. Finally, PNC Financial Services Group Inc. increased its stake in KE by 8.8% during the fourth quarter. PNC Financial Services Group Inc. now owns 9,379 shares of the company's stock worth $173,000 after purchasing an additional 762 shares during the period. Institutional investors and hedge funds own 39.34% of the company's stock.

KE Stock Down 1.2 %

Shares of BEKE stock traded down $0.23 on Thursday, reaching $19.36. 3,080,997 shares of the stock were exchanged, compared to its average volume of 9,498,125. KE Holdings Inc. has a 1-year low of $12.92 and a 1-year high of $26.05. The stock has a market cap of $23.39 billion, a P/E ratio of 39.51, a price-to-earnings-growth ratio of 3.45 and a beta of -0.73. The firm has a 50 day moving average of $20.84 and a two-hundred day moving average of $19.82.

KE Increases Dividend

The firm also recently announced a -- dividend, which was paid on Friday, April 25th. Investors of record on Wednesday, April 9th were given a dividend of $0.36 per share. This represents a yield of 1.4%. The ex-dividend date of this dividend was Wednesday, April 9th. This is an increase from KE's previous -- dividend of $0.17. KE's dividend payout ratio is 64.58%.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on BEKE shares. Jefferies Financial Group reiterated a "buy" rating on shares of KE in a report on Tuesday, March 18th. Morgan Stanley boosted their target price on KE from $19.00 to $27.00 and gave the stock an "overweight" rating in a research note on Wednesday, March 19th. Finally, UBS Group cut KE from a "buy" rating to a "neutral" rating and lifted their price objective for the company from $22.70 to $24.50 in a research note on Thursday, March 20th. One investment analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $27.26.

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.