Myriad Asset Management US LP Sells 34,385 Shares of KE Holdings Inc. Sponsored ADR $BEKE

Key Points

• Myriad Asset Management US LP reduced its holdings in KE Holdings Inc. by 31.9%, selling 34,385 shares and owning a total of 73,541 shares now worth approximately $1.3 million.
• Institutional investors collectively own 39.34% of KE Holdings, with various firms, including Siren L.L.C. and UBS Asset Management, increasing their stakes significantly in the last quarter.
• Analysts have mixed ratings for KE Holdings; while some dropped their price targets, the consensus remains a "Buy" rating with an average target price of $24.54.

Myriad Asset Management US LP cut its holdings in KE Holdings Inc. Sponsored ADR (NYSE:BEKE - Free Report) by 31.9% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 73,541 shares of the company's stock after selling 34,385 shares during the period. KE makes up approximately 0.9% of Myriad Asset Management US LP's portfolio, making the stock its 23rd biggest position. Myriad Asset Management US LP's holdings in KE were worth $1,305,000 at the end of the most recent quarter.

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

Analyst Upgrades and Downgrades

A number of research firms have issued reports on BEKE. Barclays cut their price target on KE from $33.00 to $25.00 and set an "overweight" rating for the company in a research note on Friday, August 15th. Wall Street Zen downgraded KE from a "buy" rating to a "hold" rating in a research note on Sunday, June 22nd. Jefferies Financial Group set a $22.00 price target on KE and gave the company a "buy" rating in a research note on Tuesday, August 26th. Finally, JPMorgan Chase & Co. cut their target price on KE from $24.00 to $22.00 and set an "overweight" rating on the stock in a research note on Tuesday, August 12th. Seven analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, KE currently has an average rating of "Buy" and a consensus price target of $24.54.

KE Stock Performance

BEKE stock traded down $0.27 during midday trading on Monday, reaching $19.48. 1,663,925 shares of the company's stock traded hands, compared to its average volume of 8,327,964. The company has a 50-day moving average price of $18.74 and a two-hundred day moving average price of $19.30. KE Holdings Inc. Sponsored ADR has a 52 week low of $14.55 and a 52 week high of $26.05. The firm has a market capitalization of $23.19 billion, a PE ratio of 41.46, a price-to-earnings-growth ratio of 2.40 and a beta of -0.76.

KE Company 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.