Ardmore Road Asset Management LP Takes Position in KE Holdings Inc. Sponsored ADR $BEKE

Key Points

• Ardmore Road Asset Management LP acquired a new stake of 525,000 shares in KE Holdings Inc. valued at approximately $10.5 million.
• Multiple institutional investors, including First Trust Advisors and Northern Trust Corp, have increased their stakes in KE Holdings during the previous quarters, reflecting growing interest in the company.
• Analysts have mixed reviews, with some firms like UBS upgrading the stock to a "buy" rating, while others, like Barclays, have lowered their price target significantly.

Ardmore Road Asset Management LP acquired a new position in shares of KE Holdings Inc. Sponsored ADR (NYSE:BEKE - Free Report) during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 525,000 shares of the company's stock, valued at approximately $10,547,000.

Other hedge funds and other institutional investors have also bought and sold shares of the company. GAMMA Investing LLC bought a new position in KE during the 1st quarter worth approximately $34,000. Wealthquest Corp bought a new position in KE during the 1st quarter worth approximately $79,000. State of Wyoming bought a new position in KE during the 4th quarter worth approximately $100,000. Brooklyn Investment Group boosted its stake in KE by 3,813.6% during the 1st quarter. Brooklyn Investment Group now owns 5,753 shares of the company's stock worth $116,000 after acquiring an additional 5,606 shares during the last quarter. Finally, Raiffeisen Bank International AG bought a new position in KE during the 4th quarter worth approximately $151,000. Institutional investors own 39.34% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on the stock. Barclays cut their price target on shares of KE from $33.00 to $25.00 and set an "overweight" rating on the stock in a research note on Friday, August 15th. UBS Group raised shares of KE from a "neutral" rating to a "buy" rating and lifted their price target for the company from $22.10 to $23.00 in a research note on Friday, May 16th. Wall Street Zen lowered shares of KE from a "buy" rating to a "hold" rating in a research note on Sunday, June 22nd. JPMorgan Chase & Co. cut their price target on shares of KE from $24.00 to $22.00 and set an "overweight" rating on the stock in a research note on Tuesday, August 12th. Finally, Jefferies Financial Group set a $22.00 price objective on shares of KE and gave the stock a "buy" rating in a research report on Tuesday, August 26th. Seven analysts have rated the stock with a Buy rating, According to data from MarketBeat, the company currently has an average rating of "Buy" and a consensus target price of $24.54.

KE Trading Up 0.8%

Shares of NYSE:BEKE traded up $0.15 on Thursday, hitting $18.61. The company had a trading volume of 1,816,890 shares, compared to its average volume of 8,485,110. The stock has a 50 day moving average price of $18.36 and a 200 day moving average price of $19.50. The stock has a market cap of $22.15 billion, a price-to-earnings ratio of 39.60, a P/E/G ratio of 1.62 and a beta of -0.76. KE Holdings Inc. Sponsored ADR has a 1-year low of $13.28 and a 1-year high of $26.05.

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.