Alberta Investment Management Corp Lowers Stake in KE Holdings Inc. Sponsored ADR (NYSE:BEKE)

Key Points

• Alberta Investment Management Corp reduced its stake in KE Holdings Inc. by 9.4%, owning 934,022 shares after selling 96,759 shares during the first quarter.
• UBS Group upgraded KE Holdings from a "neutral" to a "buy" rating, raising their price objective from $22.10 to $23.00, while other analysts gave varied ratings.
• KE Holdings Inc. has a market cap of $22.27 billion and trades at a current price of $18.43, with a 12-month range between $12.92 and $26.05.

Alberta Investment Management Corp lowered its stake in shares of KE Holdings Inc. Sponsored ADR (NYSE:BEKE - Free Report) by 9.4% in the first quarter, according to its most recent 13F filing with the SEC. The firm owned 934,022 shares of the company's stock after selling 96,759 shares during the period. Alberta Investment Management Corp owned approximately 0.08% of KE worth $18,765,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in BEKE. FIL Ltd lifted its holdings in KE by 21.1% during the 4th quarter. FIL Ltd now owns 25,847,478 shares of the company's stock worth $476,111,000 after buying an additional 4,503,902 shares in the last quarter. Krane Funds Advisors LLC lifted its holdings in KE by 12.9% during the 1st quarter. Krane Funds Advisors LLC now owns 14,915,812 shares of the company's stock worth $299,659,000 after buying an additional 1,707,067 shares in the last quarter. Hhlr Advisors LTD. lifted its holdings in KE by 3.6% during the 4th quarter. Hhlr Advisors LTD. now owns 11,261,276 shares of the company's stock worth $207,433,000 after buying an additional 392,588 shares in the last quarter. Canada Pension Plan Investment Board lifted its holdings in KE by 111,822,650.0% during the 4th quarter. Canada Pension Plan Investment Board now owns 11,182,275 shares of the company's stock worth $205,978,000 after buying an additional 11,182,265 shares in the last quarter. Finally, Renaissance Technologies LLC lifted its holdings in KE by 2.4% during the 4th quarter. Renaissance Technologies LLC now owns 8,155,694 shares of the company's stock worth $150,228,000 after buying an additional 194,800 shares in the last quarter. Hedge funds and other institutional investors own 39.34% of the company's stock.

KE Price Performance

Shares of BEKE traded down $0.43 during midday trading on Monday, reaching $17.78. The stock had a trading volume of 2,923,274 shares, compared to its average volume of 8,839,706. KE Holdings Inc. Sponsored ADR has a 1-year low of $12.92 and a 1-year high of $26.05. The company's fifty day simple moving average is $18.60 and its two-hundred day simple moving average is $19.51. The company has a market cap of $21.17 billion, a price-to-earnings ratio of 33.56, a PEG ratio of 1.36 and a beta of -0.76.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on BEKE shares. UBS Group upgraded shares of KE from a "neutral" rating to a "buy" rating and increased their target price for the stock from $22.10 to $23.00 in a report on Friday, May 16th. Wall Street Zen lowered shares of KE from a "buy" rating to a "hold" rating in a report on Sunday, June 22nd. Finally, Citigroup reduced their target price on shares of KE from $25.80 to $24.80 and set a "buy" rating on the stock in a report on Friday, May 16th. One equities research analyst has rated the stock with a hold rating and six have assigned a buy rating to the company's stock. According to MarketBeat, KE currently has a consensus rating of "Moderate Buy" and a consensus target price of $27.16.

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.