BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp Acquires 22,200 Shares of KE Holdings Inc. Sponsored ADR $BEKE

Key Points

• The British Columbia Investment Management Corp increased its stake in KE Holdings Inc. by 8.9% during the first quarter, now holding a total of 271,950 shares valued at approximately $5.46 million.
• Notable institutional investors, including Vanguard Group Inc. and Mirae Asset Global Investments, also expanded their positions in KE Holdings during the same period, indicating growing institutional interest.
• KE Holdings has a consensus buy rating from analysts, with a target price ranging from $22.00 to $25.00, reflecting positive expectations despite some recent target price adjustments.

BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp boosted its stake in KE Holdings Inc. Sponsored ADR (NYSE:BEKE - Free Report) by 8.9% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 271,950 shares of the company's stock after acquiring an additional 22,200 shares during the quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp's holdings in KE were worth $5,463,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in BEKE. GAMMA Investing LLC bought a new stake in KE during the 1st quarter worth about $34,000. Wealthquest Corp bought a new stake in KE during the 1st quarter worth about $79,000. State of Wyoming bought a new stake in KE during the 4th quarter worth about $100,000. Brooklyn Investment Group lifted its position 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 buying an additional 5,606 shares in the last quarter. Finally, Raiffeisen Bank International AG bought a new stake in KE during the 4th quarter worth about $151,000. 39.34% of the stock is owned by institutional investors.

KE Trading Down 1.7%

Shares of NYSE:BEKE traded down $0.30 on Thursday, reaching $17.49. 5,278,712 shares of the company's stock were exchanged, compared to its average volume of 6,121,079. The company has a fifty day moving average of $18.37 and a 200-day moving average of $19.57. KE Holdings Inc. Sponsored ADR has a twelve month low of $13.28 and a twelve month high of $26.05. The company has a market capitalization of $20.83 billion, a price-to-earnings ratio of 37.22, a PEG ratio of 1.61 and a beta of -0.76.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on the stock. UBS Group upgraded shares of KE from a "neutral" rating to a "buy" rating and boosted their price objective for the stock from $22.10 to $23.00 in a research note on Friday, May 16th. Jefferies Financial Group set a $22.00 price objective on shares of KE and gave the stock a "buy" rating in a research note on Tuesday. Citigroup lowered their price objective on shares of KE from $25.80 to $24.80 and set a "buy" rating on the stock in a research note on Friday, May 16th. JPMorgan Chase & Co. lowered their price objective 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, Barclays lowered their price objective 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. Seven research analysts have rated the stock with a Buy rating, Based on data from MarketBeat, the stock presently has a consensus rating of "Buy" and a consensus target price of $24.54.

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.