Mackenzie Financial Corp Invests $2.01 Million in KE Holdings Inc. Sponsored ADR (NYSE:BEKE)

Key Points

• Mackenzie Financial Corp has acquired a new position in KE Holdings Inc. by purchasing 99,834 shares valued at approximately $2,006,000 in the first quarter.
• Several institutional investors, including Bank of New York Mellon Corp and Asset Management One Co. Ltd., have also increased their stakes in KE Holdings, highlighting growing interest among institutional investors.
• Analyst ratings vary, with one firm downgrading KE to a "hold" while others have assigned a "buy" rating, resulting in an average rating of "Moderate Buy" with a price target of $27.16.

Mackenzie Financial Corp bought a new position in shares of KE Holdings Inc. Sponsored ADR (NYSE:BEKE - Free Report) in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm bought 99,834 shares of the company's stock, valued at approximately $2,006,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Skandinaviska Enskilda Banken AB publ increased its holdings in shares of KE by 22.9% in the first quarter. Skandinaviska Enskilda Banken AB publ now owns 139,300 shares of the company's stock worth $2,799,000 after purchasing an additional 26,000 shares during the last quarter. KLP Kapitalforvaltning AS increased its holdings in KE by 8.6% in the 1st quarter. KLP Kapitalforvaltning AS now owns 153,500 shares of the company's stock valued at $3,084,000 after purchasing an additional 12,100 shares in the last quarter. Y Intercept Hong Kong Ltd bought a new stake in shares of KE during the first quarter valued at approximately $405,000. Ping Capital Management Inc. grew its position in KE by 15.6% during the 1st quarter. Ping Capital Management Inc. now owns 37,000 shares of the company's stock worth $743,000 after purchasing an additional 5,000 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA lifted its position in KE by 55.5% during the 1st quarter. Massachusetts Financial Services Co. MA now owns 133,280 shares of the company's stock worth $2,678,000 after acquiring an additional 47,562 shares during the last quarter. 39.34% of the stock is owned by institutional investors.

KE Price Performance

Shares of KE stock traded up $0.09 during trading hours on Thursday, hitting $17.61. The company's stock had a trading volume of 4,485,877 shares, compared to its average volume of 8,811,663. KE Holdings Inc. Sponsored ADR has a 12 month low of $13.28 and a 12 month high of $26.05. The company has a market capitalization of $20.96 billion, a PE ratio of 33.22, a price-to-earnings-growth ratio of 1.31 and a beta of -0.76. The stock has a 50 day moving average of $18.55 and a 200 day moving average of $19.48.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on the stock. Wall Street Zen downgraded shares of KE from a "buy" rating to a "hold" rating in a research report on Sunday, June 22nd. Citigroup lowered 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. Finally, UBS Group upgraded KE from a "neutral" rating to a "buy" rating and boosted their price target for the stock from $22.10 to $23.00 in a research note on Friday, May 16th. One research analyst has rated the stock with a hold rating and six have assigned a buy rating to the company's stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $27.16.

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.