Mirae Asset Global Investments Co. Ltd. Acquires 69,089 Shares of KE Holdings Inc. Sponsored ADR $BEKE

Key Points

• Mirae Asset Global Investments initiated a position in KE Holdings, buying 69,089 shares worth approximately $1.16 million in the third quarter. Institutional investors and hedge funds own 39.34% of the stock.
• KE CEO Yongdong Peng sold about 16.0 million shares for roughly $84.5 million, while director Yigang Shan sold about 3.3 million shares for roughly $18.1 million; both retained substantial holdings.
• KE’s latest quarterly results beat estimates, with EPS of $0.42 versus $0.31 expected and revenue of $3.61 billion versus $3.59 billion expected. Analysts’ consensus rating is “Moderate Buy,” with an average price target of $23.64.

Mirae Asset Global Investments Co. Ltd. bought a new stake in shares of KE Holdings Inc. Sponsored ADR (NYSE:BEKE - Free Report) in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor bought 69,089 shares of the company's stock, valued at approximately $1,164,000.

Several other large investors also recently modified their holdings of BEKE. Mather Group LLC. bought a new position in shares of KE in the third quarter worth $63,000. EverSource Wealth Advisors LLC raised its stake in KE by 37.6% in the first quarter. EverSource Wealth Advisors LLC now owns 5,647 shares of the company's stock valued at $85,000 after purchasing an additional 1,543 shares in the last quarter. Basecamp Wealth Advisors LLC lifted its position in KE by 9.1% during the first quarter. Basecamp Wealth Advisors LLC now owns 8,399 shares of the company's stock worth $126,000 after purchasing an additional 704 shares during the period. Parallel Advisors LLC lifted its position in KE by 66.3% during the first quarter. Parallel Advisors LLC now owns 8,814 shares of the company's stock worth $132,000 after purchasing an additional 3,514 shares during the period. Finally, First Trust Advisors LP lifted its position in KE by 28.1% during the first quarter. First Trust Advisors LP now owns 14,000 shares of the company's stock worth $210,000 after purchasing an additional 3,073 shares during the period. 39.34% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at KE

In related news, CEO Yongdong Peng sold 16,033,983 shares of KE stock in a transaction that occurred on 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 directly owned 62,824,251 shares of the company's stock, valued at approximately $331,083,802.77. The trade was a 20.33% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Yigang Shan sold 3,326,670 shares of the company's stock in a transaction that occurred on 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 transaction, the director 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. The SEC filing for this sale provides additional information. 6.80% of the stock is currently owned by corporate insiders.

KE Price Performance

Shares of BEKE stock opened at $18.86 on Monday. The company has a quick ratio of 3.30, a current ratio of 3.30 and a debt-to-equity ratio of 0.01. KE Holdings Inc. Sponsored ADR has a twelve month low of $13.81 and a twelve month high of $19.88. The company has a market cap of $21.60 billion, a P/E ratio of 30.91, a P/E/G ratio of 0.61 and a beta of -0.27. The business has a fifty day simple moving average of $17.25 and a 200 day simple moving average of $16.87.

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

Wall Street Analysts Forecast Growth

Several equities analysts have commented on the stock. Weiss Ratings raised shares of KE from a "hold (c)" rating to a "hold (c+)" rating in a report on Friday, October 9th. CLSA initiated coverage on shares of KE in a research report on Wednesday, August 19th. They issued an "outperform" rating and a $23.80 target price for the company. Morgan Stanley reaffirmed an "overweight" rating on shares of KE in a report on Friday, August 21st. Wall Street Zen upgraded shares of KE from a "hold" rating to a "buy" rating in a research report on Saturday, August 29th. Finally, Zacks Research lowered shares of KE from a "strong-buy" rating to a "hold" rating in a research report on Monday, October 26th. 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, KE currently has an average rating of "Moderate Buy" and an average target price of $23.64.

KE Profile

KE Holdings Inc operates Beike, a real estate services platform in China that connects consumers with agents and other housing service providers. Its services include existing-home and new-home sales, residential rentals, and related services such as property management and home renovation.

The company's business traces its roots to Lianjia, a real estate brokerage founded in Beijing in 2001 by Zuo Hui. KE Holdings was established in 2018, and its Beike platform brings together Lianjia and other participating agencies.

KE Holdings serves customers across China.

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