KE Holdings Inc. Sponsored ADR $BEKE Stake Raised by Pzena Investment Management LLC

Key Points

• Pzena Investment Management increased its KE Holdings stake by 17.1% in the third quarter, adding 1.52 million shares to hold about 10.40 million shares, valued at $175.2 million.
• KE reported quarterly earnings of $0.42 per share, beating analysts’ $0.31 estimate, while revenue of $3.61 billion slightly exceeded expectations. Analysts’ average rating was “Moderate Buy,” with an average price target of $23.64.
• CEO Yongdong Peng and director Yigang Shan both disclosed substantial share sales; insiders collectively own 6.80% of the company.

Pzena Investment Management LLC increased its position in shares of KE Holdings Inc. Sponsored ADR (NYSE:BEKE - Free Report) by 17.1% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 10,395,865 shares of the company's stock after buying an additional 1,518,222 shares during the quarter. Pzena Investment Management LLC owned 0.93% of KE worth $175,170,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Wellington Management Group LLP lifted its position in shares of KE by 16.0% in the 2nd quarter. Wellington Management Group LLP now owns 8,915,061 shares of the company's stock worth $129,536,000 after acquiring an additional 1,231,445 shares during the period. Carrhae Capital LLP bought a new stake in KE in the 2nd quarter valued at $10,138,000. Baird Financial Group Inc. raised its stake in shares of KE by 5.8% in the 2nd quarter. Baird Financial Group Inc. now owns 5,942,507 shares of the company's stock valued at $86,345,000 after buying an additional 324,707 shares in the last quarter. Perseverance Asset Management International raised its stake in shares of KE by 20.4% in the 1st quarter. Perseverance Asset Management International now owns 1,391,439 shares of the company's stock valued at $20,830,000 after buying an additional 236,000 shares in the last quarter. Finally, Robeco Institutional Asset Management B.V. raised its stake in shares of KE by 56.5% in the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 630,660 shares of the company's stock valued at $10,627,000 after buying an additional 227,616 shares in the last quarter. 39.34% of the stock is currently owned by institutional investors.

KE Stock Performance

NYSE BEKE opened at $18.60 on Thursday. KE Holdings Inc. Sponsored ADR has a 1-year low of $13.81 and a 1-year high of $19.88. The company has a 50 day moving average of $17.21 and a 200-day moving average of $16.86. The company has a current ratio of 3.30, a quick ratio of 3.30 and a debt-to-equity ratio of 0.01. The firm has a market cap of $20.82 billion, a price-to-earnings ratio of 30.50, a PEG ratio of 0.57 and a beta of -0.27.

KE (NYSE:BEKE - Get Free Report) last released its quarterly earnings results on Friday, August 21st. The company reported $0.42 earnings per share for the quarter, beating analysts' consensus estimates of $0.31 by $0.11. KE had a return on equity of 7.62% and a net margin of 5.38%. The firm had revenue of $3.61 billion during the quarter, compared to analysts' expectations of $3.59 billion. On average, equities analysts forecast that KE Holdings Inc. Sponsored ADR will post 1.03 earnings per share for the current fiscal year.

Insider Transactions at KE

In other KE news, CEO Yongdong Peng sold 16,033,983 shares of the stock in a transaction dated Friday, September 25th. The shares were sold at an average price of $5.27, for a total transaction of $84,499,090.41. Following the sale, the chief executive officer owned 62,824,251 shares of the company's stock, valued at $331,083,802.77. This represents a 20.33% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Yigang Shan sold 3,326,670 shares of the business's stock in a transaction dated Monday, September 21st. The stock was sold at an average price of $5.44, for a total transaction of $18,097,084.80. Following the completion of the transaction, the director directly owned 53,868,189 shares of the company's stock, valued at approximately $293,042,948.16. This represents a 5.82% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders own 6.80% of the company's stock.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on BEKE shares. Zacks Research lowered shares of KE from a "strong-buy" rating to a "hold" rating in a research report on Monday, October 26th. Wall Street Zen raised shares of KE from a "hold" rating to a "buy" rating in a research report on Saturday, August 29th. Morgan Stanley restated an "overweight" rating on shares of KE in a research note on Friday, August 21st. Weiss Ratings raised KE from a "hold (c)" rating to a "hold (c+)" rating in a report on Friday, October 9th. Finally, CLSA assumed coverage on KE in a research note on Wednesday, August 19th. They issued an "outperform" rating and a $23.80 price objective on the stock. Six research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat.com, KE has an average rating of "Moderate Buy" and an average price target of $23.64.

KE Company Profile

KE Holdings Inc, also known as Beike, operates a technology-driven housing-services platform in China. The company connects consumers, housing agents, property developers and other service providers through online and offline channels.

Its business includes brokerage services for existing-home and new-home transactions, residential rentals, and related housing services. KE Holdings also provides home renovation and furnishing services, property management, and other services designed to support consumers throughout the residential real estate lifecycle.

The company's platform supports a network of agents and stores and uses data, digital tools and standardized operating processes to facilitate property searches, transactions and related services.

Want to see what other hedge funds are holding BEKE? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for KE Holdings Inc. Sponsored ADR (NYSE:BEKE - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.