Renaissance Technologies LLC Trims Stock Holdings in KE Holdings Inc. Sponsored ADR $BEKE

Key Points

• Renaissance Technologies reduced its KE Holdings stake by 10.1% in the first quarter, selling 543,000 shares and leaving it with 4.86 million shares worth about $72.8 million.
• Several other institutional investors also adjusted positions in KE, and overall institutional ownership stands at 39.34%.
• Wall Street sentiment is generally positive: KE has a Moderate Buy consensus rating, with six Buy ratings and an average price target of $23.07.

Renaissance Technologies LLC cut its holdings in KE Holdings Inc. Sponsored ADR (NYSE:BEKE - Free Report) by 10.1% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 4,859,923 shares of the company's stock after selling 543,000 shares during the period. Renaissance Technologies LLC owned 0.43% of KE worth $72,753,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. Mirabaud Asset Management Ltd bought a new position in KE during the 4th quarter worth approximately $2,266,000. SG Americas Securities LLC lifted its position in KE by 120.4% in the fourth quarter. SG Americas Securities LLC now owns 484,603 shares of the company's stock valued at $7,637,000 after purchasing an additional 264,777 shares during the last quarter. Assenagon Asset Management S.A. lifted its position in KE by 1,067.0% in the fourth quarter. Assenagon Asset Management S.A. now owns 631,383 shares of the company's stock valued at $9,951,000 after purchasing an additional 577,280 shares during the last quarter. Allspring Global Investments Holdings LLC boosted its stake in shares of KE by 91.5% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 2,598,706 shares of the company's stock valued at $41,735,000 after purchasing an additional 1,241,387 shares during the period. Finally, M&T Bank Corp purchased a new stake in shares of KE during the fourth quarter valued at approximately $998,000. 39.34% of the stock is owned by institutional investors.

KE Stock Performance

Shares of BEKE opened at $15.87 on Friday. The company has a 50-day simple moving average of $16.06 and a two-hundred day simple moving average of $16.69. The company has a debt-to-equity ratio of 0.01, a current ratio of 3.12 and a quick ratio of 3.12. The firm has a market capitalization of $17.75 billion, a PE ratio of 37.77 and a beta of -0.33. KE Holdings Inc. Sponsored ADR has a one year low of $13.81 and a one year high of $20.98.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on the stock. Citigroup reiterated a "buy" rating on shares of KE in a report on Tuesday, May 19th. Griffin Securities set a $24.40 price objective on shares of KE in a research report on Wednesday, April 8th. Wall Street Zen raised shares of KE from a "sell" rating to a "buy" rating in a research note on Saturday, May 23rd. Weiss Ratings reiterated a "hold (c)" rating on shares of KE in a report on Wednesday, June 24th. Finally, UBS Group raised KE from a "neutral" rating to a "buy" rating and set a $23.00 target price on the stock in a research note on Tuesday, May 12th. Six analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus 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.

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