Carrhae Capital LLP Acquires New Shares in KE Holdings Inc. Sponsored ADR $BEKE

Key Points

• Carrhae Capital LLP acquired 697,760 shares of KE Holdings during the second quarter, worth approximately $10.1 million and representing 0.06% of the company. Institutional investors collectively own 39.34% of BEKE.
• Analysts remain broadly bullish, with a consensus “Buy” rating and an average price target of $23.64, implying upside from the reported trading price of $17.24.
• KE Holdings exceeded quarterly expectations, reporting adjusted EPS of $0.42 versus the $0.31 estimate and revenue of $3.61 billion, slightly above the $3.59 billion consensus.

Carrhae Capital LLP bought a new position in KE Holdings Inc. Sponsored ADR (NYSE:BEKE - Free Report) during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 697,760 shares of the company's stock, valued at approximately $10,138,000. KE accounts for approximately 0.3% of Carrhae Capital LLP's holdings, making the stock its 25th largest position. Carrhae Capital LLP owned 0.06% of KE as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in the stock. Caitong International Asset Management Co. Ltd grew its position in KE by 330.2% in the 4th quarter. Caitong International Asset Management Co. Ltd now owns 2,280 shares of the company's stock worth $36,000 after purchasing an additional 1,750 shares during the last quarter. Strs Ohio bought a new stake in shares of KE during the first quarter valued at approximately $44,000. Allworth Financial LP boosted its position in shares of KE by 254.4% during the fourth quarter. Allworth Financial LP now owns 2,910 shares of the company's stock worth $46,000 after buying an additional 2,089 shares during the period. EverSource Wealth Advisors LLC boosted its position in shares of KE by 145.1% during the second quarter. EverSource Wealth Advisors LLC now owns 3,812 shares of the company's stock worth $68,000 after buying an additional 2,257 shares during the period. Finally, Fideuram Asset Management Ireland dac bought a new position in KE in the 4th quarter worth approximately $88,000. 39.34% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

BEKE has been the topic of several recent analyst reports. Morgan Stanley reaffirmed an "overweight" rating on shares of KE in a research note on Friday, August 21st. CLSA started coverage on shares of KE in a research report on Wednesday, August 19th. They issued an "outperform" rating and a $23.80 target price for the company. Citigroup reiterated a "buy" rating on shares of KE in a report on Tuesday, May 19th. Wall Street Zen upgraded shares of KE from a "hold" rating to a "buy" rating in a report on Saturday, August 29th. Finally, UBS Group raised shares of KE from a "neutral" rating to a "buy" rating and set a $23.00 target price for the company in a research note on Tuesday, May 12th. One analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Buy" and a consensus target price of $23.64.

KE Trading Down 3.8%

Shares of BEKE traded down $0.68 during midday trading on Tuesday, hitting $17.24. The stock had a trading volume of 5,498,991 shares, compared to its average volume of 4,498,423. The business has a 50-day simple moving average of $16.77 and a two-hundred day simple moving average of $16.55. The firm has a market cap of $19.29 billion, a P/E ratio of 28.26, a price-to-earnings-growth ratio of 0.68 and a beta of -0.26. The company has a current ratio of 3.30, a quick ratio of 3.30 and a debt-to-equity ratio of 0.01. KE Holdings Inc. Sponsored ADR has a fifty-two week low of $13.81 and a fifty-two week high of $20.98.

KE (NYSE:BEKE - Get Free Report) last issued its quarterly earnings results on Friday, August 21st. The company reported $0.42 EPS for the quarter, beating the consensus estimate of $0.31 by $0.11. KE had a net margin of 5.38% and a return on equity of 7.62%. The business had revenue of $3.61 billion during the quarter, compared to the consensus estimate of $3.59 billion. As a group, equities analysts forecast that KE Holdings Inc. Sponsored ADR will post 0.88 EPS for the current year.

KE Profile

KE Holdings Inc NYSE: BEKE is a technology-driven real estate services company that operates an integrated online and offline platform for housing transactions and related services in mainland China. The company provides consumer-facing property listing marketplaces alongside a broad network of offline brokerage offices and agents, aiming to facilitate sales, rentals and new-home transactions for individual and institutional clients.

The company’s offerings span property listings for new and resale homes, rental listings, brokerage representation and transaction facilitation.

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