Perseverance Asset Management International Raises Holdings in KE Holdings Inc. Sponsored ADR $BEKE

Key Points

• Perseverance Asset Management International increased its KE Holdings stake by 20.4% in the first quarter, adding 236,000 shares to bring its total to 1,391,439 shares worth about $20.83 million.
• Other major institutions also shifted positions in BEKE, and overall institutional ownership stands at 39.34%, indicating significant hedge fund and asset manager interest in the stock.
• Analyst sentiment has improved, with Goldman Sachs and Barclays raising ratings and targets; the stock now carries a consensus Moderate Buy and an average price target of $23.07.

Perseverance Asset Management International raised its stake in KE Holdings Inc. Sponsored ADR (NYSE:BEKE - Free Report) by 20.4% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,391,439 shares of the company's stock after purchasing an additional 236,000 shares during the period. KE accounts for approximately 2.3% of Perseverance Asset Management International's investment portfolio, making the stock its 9th largest holding. Perseverance Asset Management International owned about 0.12% of KE worth $20,830,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in BEKE. Norges Bank bought a new stake in shares of KE in the 4th quarter valued at about $112,843,000. Invesco Ltd. grew its position in shares of KE by 197.8% in the 2nd quarter. Invesco Ltd. now owns 2,421,452 shares of the company's stock worth $42,957,000 after buying an additional 1,608,207 shares during the last quarter. Burkehill Global Management LP bought a new position in shares of KE during the 3rd quarter worth approximately $28,500,000. Amundi bought a new position in shares of KE during the 4th quarter worth approximately $22,303,000. Finally, Bank of America Corp DE lifted its position in KE by 76.3% during the third quarter. Bank of America Corp DE now owns 3,067,917 shares of the company's stock valued at $58,290,000 after acquiring an additional 1,327,775 shares during the last quarter. 39.34% of the stock is currently owned by institutional investors.

KE Stock Performance

Shares of KE stock opened at $16.07 on Friday. The company has a 50 day moving average price of $16.11 and a 200 day moving average price of $16.69. The firm has a market capitalization of $17.99 billion, a P/E ratio of 38.27 and a beta of -0.33. The company has a quick ratio of 3.12, a current ratio of 3.12 and a debt-to-equity ratio of 0.01. KE Holdings Inc. Sponsored ADR has a 52 week low of $13.81 and a 52 week high of $20.98.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on the stock. The Goldman Sachs Group upgraded shares of KE from a "neutral" rating to a "buy" rating and set a $21.00 target price for the company in a research note on Monday, May 4th. Wall Street Zen raised KE from a "sell" rating to a "buy" rating in a research report on Saturday, May 23rd. Griffin Securities set a $24.40 price objective on KE in a report on Wednesday, April 8th. Weiss Ratings reissued a "hold (c)" rating on shares of KE in a research report on Wednesday, June 24th. Finally, Barclays boosted their target price on KE from $23.00 to $26.00 and gave the stock an "overweight" rating in a research note on Wednesday, May 20th. Six research analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $23.07.

KE Company Profile

KE Holdings Inc NYSE: BEKE is a technology-driven real estate services company that operates an integrated online and offline platform for housing transactions and related services in mainland China. The company provides consumer-facing property listing marketplaces alongside a broad network of offline brokerage offices and agents, aiming to facilitate sales, rentals and new-home transactions for individual and institutional clients.

The company’s offerings span property listings for new and resale homes, rental listings, brokerage representation and transaction facilitation.

Want to see what other hedge funds are holding BEKE? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for KE Holdings Inc. Sponsored ADR (NYSE:BEKE - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.