Federated Hermes Inc. Purchases 392,273 Shares of KE Holdings Inc. Sponsored ADR (NYSE:BEKE)

Key Points

• Federated Hermes Inc. increased its stake in KE Holdings Inc. by 15.6%, acquiring 392,273 shares, bringing its total ownership to approximately 2.9 million shares valued at $58.3 million.
• Institutional investors collectively own 39.34% of KE Holdings, with notable large investors like the Canada Pension Plan Investment Board and Mirae Asset Global Investments having made substantial purchases.
• KE Holdings' stock price currently stands at $18.93 with a market cap of $22.88 billion, and analysts have a consensus rating of "Moderate Buy" with an average price target of $27.16.

Federated Hermes Inc. boosted its stake in KE Holdings Inc. Sponsored ADR (NYSE:BEKE - Free Report) by 15.6% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The firm owned 2,903,839 shares of the company's stock after acquiring an additional 392,273 shares during the period. Federated Hermes Inc. owned 0.24% of KE worth $58,338,000 as of its most recent filing with the SEC.

Several other hedge funds have also added to or reduced their stakes in the stock. Bank of New York Mellon Corp increased its holdings in KE by 13.4% during the 1st quarter. Bank of New York Mellon Corp now owns 741,494 shares of the company's stock worth $14,897,000 after acquiring an additional 87,659 shares during the period. Asset Management One Co. Ltd. increased its holdings in KE by 14.6% during the 1st quarter. Asset Management One Co. Ltd. now owns 123,886 shares of the company's stock worth $2,489,000 after acquiring an additional 15,802 shares during the period. GAMMA Investing LLC bought a new stake in KE during the 1st quarter worth approximately $34,000. Polymer Capital Management HK LTD increased its holdings in KE by 106.5% during the 4th quarter. Polymer Capital Management HK LTD now owns 564,845 shares of the company's stock worth $10,404,000 after acquiring an additional 291,291 shares during the period. Finally, Pictet Asset Management Holding SA increased its holdings in KE by 12.8% during the 4th quarter. Pictet Asset Management Holding SA now owns 1,357,958 shares of the company's stock worth $25,014,000 after acquiring an additional 153,581 shares during the period. Institutional investors own 39.34% of the company's stock.

Analyst Ratings Changes

A number of analysts recently weighed in on BEKE shares. Wall Street Zen lowered shares of KE from a "buy" rating to a "hold" rating in a report on Sunday, June 22nd. UBS Group raised shares of KE from a "neutral" rating to a "buy" rating and upped their target price for the stock from $22.10 to $23.00 in a report on Friday, May 16th. Finally, Citigroup decreased their price target 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 analyst has rated the stock with a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $27.16.

KE Stock Performance

Shares of BEKE stock traded down $0.21 on Friday, hitting $18.21. 4,616,466 shares of the company's stock traded hands, compared to its average volume of 4,909,078. KE Holdings Inc. Sponsored ADR has a one year low of $12.92 and a one year high of $26.05. The company's fifty day simple moving average is $18.60 and its 200 day simple moving average is $19.47. The stock has a market capitalization of $21.68 billion, a price-to-earnings ratio of 34.36, a P/E/G ratio of 1.37 and a beta of -0.76.

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.