Matthews International Capital Management LLC Has $14.42 Million Stock Holdings in KE Holdings Inc. Sponsored ADR $BEKE

Key Points

• Matthews International Capital Management LLC reduced its stake in KE Holdings Inc. by 21.5%, owning 812,915 shares valued at approximately $14.42 million after selling 222,751 shares in the second quarter.
• Several hedge funds, including Vanguard Group Inc. and Mirae Asset Global Investments Co. Ltd., have recently increased their investments in KE, reflecting growing institutional interest in the stock.
• KE Holdings has a current market cap of $22.27 billion and its stock is rated as a "Moderate Buy" by analysts, with an average target price of $24.54.

Matthews International Capital Management LLC trimmed its position in shares of KE Holdings Inc. Sponsored ADR (NYSE:BEKE - Free Report) by 21.5% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 812,915 shares of the company's stock after selling 222,751 shares during the quarter. KE makes up 3.3% of Matthews International Capital Management LLC's holdings, making the stock its 11th biggest holding. Matthews International Capital Management LLC owned approximately 0.07% of KE worth $14,421,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in the company. Vanguard Group Inc. boosted its stake in shares of KE by 3.8% during the first quarter. Vanguard Group Inc. now owns 25,331,813 shares of the company's stock valued at $508,916,000 after purchasing an additional 919,420 shares in the last quarter. Krane Funds Advisors LLC lifted its stake in shares of KE by 12.9% in the first quarter. Krane Funds Advisors LLC now owns 14,915,812 shares of the company's stock worth $299,659,000 after acquiring an additional 1,707,067 shares during the period. Hhlr Advisors LTD. lifted its stake in shares of KE by 6.3% in the first quarter. Hhlr Advisors LTD. now owns 11,973,402 shares of the company's stock worth $240,546,000 after acquiring an additional 712,126 shares during the period. Mirae Asset Global Investments Co. Ltd. lifted its stake in shares of KE by 3,203.0% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 8,002,448 shares of the company's stock worth $160,769,000 after acquiring an additional 7,760,169 shares during the period. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its stake in shares of KE by 299.4% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 7,323,774 shares of the company's stock worth $147,135,000 after acquiring an additional 5,490,172 shares during the period. 39.34% of the stock is owned by institutional investors and hedge funds.

KE Stock Performance

Shares of BEKE opened at $18.71 on Friday. KE Holdings Inc. Sponsored ADR has a 52-week low of $16.05 and a 52-week high of $26.05. The business's 50 day moving average price is $18.75 and its two-hundred day moving average price is $19.07. The firm has a market cap of $22.27 billion, a PE ratio of 39.80, a price-to-earnings-growth ratio of 2.30 and a beta of -0.67.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on BEKE. Wall Street Zen lowered KE from a "buy" rating to a "hold" rating in a research note on Sunday, June 22nd. Weiss Ratings reaffirmed a "hold (c+)" rating on shares of KE in a research note on Saturday, September 27th. Barclays cut their price objective on KE from $33.00 to $25.00 and set an "overweight" rating on the stock in a research note on Friday, August 15th. JPMorgan Chase & Co. cut their price objective on KE from $24.00 to $22.00 and set an "overweight" rating on the stock in a research note on Tuesday, August 12th. Finally, Jefferies Financial Group set a $22.00 price objective on KE and gave the stock a "buy" rating in a research note on Tuesday, August 26th. Seven investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $24.54.

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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