Nomura Holdings Inc. Lowers Stock Position in KE Holdings Inc. Sponsored ADR $BEKE

Key Points

• Nomura Holdings Inc. significantly reduced its stake in KE Holdings Inc. by 93.4%, selling 1,765,822 shares and now holding 124,183 shares valued at approximately $2.5 million.
• Mirae Asset Global Investments Co. Ltd. dramatically increased its ownership in KE by 3,203%, acquiring 7,760,169 additional shares during the first quarter, bringing its total to 8,002,448 shares valued at $160.7 million.
• The current consensus rating for KE Holdings Inc. from research analysts is "Buy" with an average price target of $24.54.

Nomura Holdings Inc. reduced its holdings in KE Holdings Inc. Sponsored ADR (NYSE:BEKE - Free Report) by 93.4% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 124,183 shares of the company's stock after selling 1,765,822 shares during the period. Nomura Holdings Inc.'s holdings in KE were worth $2,495,000 at the end of the most recent quarter.

Several other large investors have also made changes to their positions in the business. GAMMA Investing LLC purchased a new stake in KE during the first quarter worth $34,000. Wealthquest Corp purchased a new stake in KE during the first quarter worth $79,000. State of Wyoming purchased a new stake in KE during the fourth quarter worth $100,000. Brooklyn Investment Group boosted its holdings in KE by 3,813.6% during the first 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 purchased a new stake in KE during the fourth quarter worth $151,000. 39.34% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on BEKE. Barclays reduced their price objective on shares of KE from $33.00 to $25.00 and set an "overweight" rating for the company in a research report on Friday, August 15th. UBS Group upgraded shares of KE from a "neutral" rating to a "buy" rating and upped their price objective for the stock from $22.10 to $23.00 in a research report on Friday, May 16th. Citigroup reduced their price objective on shares of KE from $25.80 to $24.80 and set a "buy" rating for the company in a research report 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 report on Tuesday, August 26th. Finally, Wall Street Zen cut shares of KE from a "buy" rating to a "hold" rating in a research report on Sunday, June 22nd. Seven investment analysts have rated the stock with a Buy rating, According to MarketBeat, KE has a consensus rating of "Buy" and a consensus target price of $24.54.

KE Stock Performance

Shares of NYSE BEKE traded up $0.43 during mid-day trading on Friday, reaching $18.99. The company's stock had a trading volume of 6,292,348 shares, compared to its average volume of 5,623,827. The stock has a 50-day moving average of $18.37 and a two-hundred day moving average of $19.48. The stock has a market capitalization of $22.62 billion, a P/E ratio of 40.41, a P/E/G ratio of 2.30 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.

About KE

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.