Mackenzie Financial Corp Takes Position 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 purchased a new position in KE Holdings Inc. Sponsored ADR (NYSE:BEKE - Free Report) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 99,834 shares of the company's stock, valued at approximately $2,006,000.

Several other hedge funds have also recently added to or reduced their stakes in BEKE. Bank of New York Mellon Corp boosted its position in KE by 13.4% in the first quarter. Bank of New York Mellon Corp now owns 741,494 shares of the company's stock valued at $14,897,000 after buying an additional 87,659 shares in the last quarter. Asset Management One Co. Ltd. boosted its holdings in shares of KE by 14.6% in 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 in the last quarter. GAMMA Investing LLC acquired a new position in shares of KE in 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 valued at $10,404,000 after purchasing an additional 291,291 shares in the last quarter. Finally, Myriad Asset Management US LP bought a new position in KE in the 1st quarter valued at $2,168,000. Institutional investors and hedge funds own 39.34% of the company's stock.

Analyst Upgrades and Downgrades

Several analysts have recently commented on BEKE shares. Wall Street Zen cut 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 increased their price objective for the stock from $22.10 to $23.00 in a report on Friday, May 16th. Finally, Citigroup lowered 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. 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 company presently has an average rating of "Moderate Buy" and an average price target of $27.16.

KE Stock Down 1.1%

Shares of BEKE opened at $18.21 on Monday. The stock's fifty day simple moving average is $18.60 and its 200-day simple moving average is $19.51. The firm has a market capitalization of $21.68 billion, a PE ratio of 34.36, a price-to-earnings-growth ratio of 1.36 and a beta of -0.76. KE Holdings Inc. Sponsored ADR has a 12-month low of $12.92 and a 12-month high of $26.05.

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.

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