Appaloosa LP Cuts Holdings in KE Holdings Inc. Sponsored ADR $BEKE

Key Points

• Appaloosa LP reduced its stake in KE Holdings Inc. by 26.2%, selling 674,074 shares and leaving it with 1,900,000 shares, which represent about 0.5% of its holdings.
• Other institutional investors, such as Bank of New York Mellon Corp and Vanguard Group Inc., increased their stakes in KE Holdings by more than 13% and 3%, respectively, highlighting interest from hedge funds.
• Analysts have mixed views on KE Holdings, with some downgrading their ratings while others lifted price targets, leading to an average rating of "Buy" with a consensus price target of $24.54.

Appaloosa LP reduced its position in shares of KE Holdings Inc. Sponsored ADR (NYSE:BEKE - Free Report) by 26.2% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,900,000 shares of the company's stock after selling 674,074 shares during the period. KE makes up about 0.5% of Appaloosa LP's investment portfolio, making the stock its 25th largest position. Appaloosa LP owned approximately 0.16% of KE worth $38,171,000 at the end of the most recent quarter.

Other institutional investors have also recently bought and sold shares of the company. GAMMA Investing LLC acquired a new position in shares of KE during the first quarter worth approximately $34,000. Wealthquest Corp bought a new position in shares of KE during the 1st quarter valued at about $79,000. State of Wyoming bought a new position in shares of KE during the 4th quarter valued at about $100,000. Brooklyn Investment Group increased its position in shares of 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 purchasing an additional 5,606 shares during the last quarter. Finally, Raiffeisen Bank International AG bought a new position in shares of KE during the 4th quarter worth approximately $151,000. 39.34% of the stock is currently owned by institutional investors and hedge funds.

KE Stock Performance

Shares of BEKE traded up $0.10 during mid-day trading on Monday, reaching $19.09. 2,181,466 shares of the company's stock traded hands, compared to its average volume of 8,447,208. KE Holdings Inc. Sponsored ADR has a 12 month low of $13.28 and a 12 month high of $26.05. The stock has a market capitalization of $22.73 billion, a P/E ratio of 40.61, a price-to-earnings-growth ratio of 2.30 and a beta of -0.76. The business's 50-day moving average price is $18.37 and its 200-day moving average price is $19.48.

Analysts Set New Price Targets

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

KE Company 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.