MY.Alpha Management HK Advisors Ltd Takes $12.43 Million Position in KE Holdings Inc. Sponsored ADR $BEKE

Key Points

• MY.Alpha Management HK Advisors Ltd acquired a new stake in KE Holdings Inc., purchasing 618,622 shares valued at approximately $12.4 million, which makes up about 6.2% of their investment portfolio.
• Institutional investors collectively own 39.34% of KE Holdings' stock, with notable increases in holdings from firms like Vanguard Group and Mirae Asset Global Investments in the first quarter.
• Analyst ratings for KE Holdings have recently shifted, with UBS Group upgrading the stock to a "buy" rating and a consensus price target now set at $24.97.

MY.Alpha Management HK Advisors Ltd bought a new position in KE Holdings Inc. Sponsored ADR (NYSE:BEKE - Free Report) during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 618,622 shares of the company's stock, valued at approximately $12,428,000. KE comprises about 6.2% of MY.Alpha Management HK Advisors Ltd's investment portfolio, making the stock its 6th biggest position. MY.Alpha Management HK Advisors Ltd owned approximately 0.05% of KE as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors also recently modified their holdings of the company. GAMMA Investing LLC bought a new stake in shares of KE in the first quarter worth about $34,000. Wealthquest Corp purchased a new stake in KE in the first quarter worth about $79,000. State of Wyoming purchased a new stake in KE in the fourth quarter worth about $100,000. Brooklyn Investment Group lifted its holdings in KE by 3,813.6% in the first quarter. Brooklyn Investment Group now owns 5,753 shares of the company's stock worth $116,000 after buying an additional 5,606 shares during the period. Finally, Raiffeisen Bank International AG purchased a new stake in KE in the fourth quarter worth about $151,000. 39.34% of the stock is owned by institutional investors.

KE Stock Up 0.9%

NYSE:BEKE traded up $0.1650 during mid-day trading on Friday, hitting $18.4950. 4,021,120 shares of the stock traded hands, compared to its average volume of 8,552,354. The stock has a market capitalization of $22.02 billion, a price-to-earnings ratio of 34.90, a PEG ratio of 1.67 and a beta of -0.76. KE Holdings Inc. Sponsored ADR has a 52 week low of $13.28 and a 52 week high of $26.05. The firm's 50 day moving average is $18.41 and its two-hundred day moving average is $19.55.

Wall Street Analyst Weigh In

Several analysts have commented on the stock. 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 report on Friday, May 16th. UBS Group raised shares of KE from a "neutral" rating to a "buy" rating and lifted their target price for the stock from $22.10 to $23.00 in a research report on Friday, May 16th. JPMorgan Chase & Co. cut their price objective on shares of KE from $24.00 to $22.00 and set an "overweight" rating for the company in a research report on Tuesday, August 12th. Wall Street Zen cut shares of KE from a "buy" rating to a "hold" rating in a research note on Sunday, June 22nd. Finally, Barclays decreased their price target on shares of KE from $33.00 to $25.00 and set an "overweight" rating on the stock in a research note on Friday, August 15th. Seven research analysts have rated the stock with a Buy rating, According to MarketBeat, the company presently has a consensus rating of "Buy" and a consensus price target of $24.97.

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.