Resona Asset Management Co. Ltd. Purchases 29,261 Shares of KE Holdings Inc. Sponsored ADR $BEKE

Key Points

• Resona Asset Management Co. Ltd. increased its stake in KE Holdings Inc. by 18.2% during the 1st quarter, owning 189,679 shares valued at approximately $3.8 million.
• Multiple institutional investors adjusted their holdings in KE Holdings, with significant increases including Mirae Asset Global Investments boosting its position by 3,203.0% and owning over 8 million shares.
• Analyst ratings for KE Holdings show mixed sentiments, with one firm downgrading it to a "hold" while another upgraded its rating to a "buy," resulting in a consensus rating of "Moderate Buy."

Resona Asset Management Co. Ltd. raised its stake in shares of KE Holdings Inc. Sponsored ADR (NYSE:BEKE - Free Report) by 18.2% in the 1st quarter, according to its most recent disclosure with the SEC. The firm owned 189,679 shares of the company's stock after purchasing an additional 29,261 shares during the period. Resona Asset Management Co. Ltd.'s holdings in KE were worth $3,823,000 as of its most recent SEC filing.

Several other hedge funds have also bought and sold shares of BEKE. Envestnet Asset Management Inc. grew its holdings in KE by 40.4% during the fourth quarter. Envestnet Asset Management Inc. now owns 305,713 shares of the company's stock valued at $5,631,000 after purchasing an additional 88,045 shares during the period. Mariner LLC grew its holdings in KE by 14.9% during the fourth quarter. Mariner LLC now owns 88,336 shares of the company's stock valued at $1,627,000 after purchasing an additional 11,451 shares during the period. First Trust Advisors LP bought a new stake in KE during the fourth quarter valued at about $233,000. Natixis bought a new stake in KE during the fourth quarter valued at about $1,023,000. Finally, Stifel Financial Corp bought a new stake in KE during the fourth quarter valued at about $209,000. Institutional investors own 39.34% of the company's stock.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on the company. UBS Group upgraded KE from a "neutral" rating to a "buy" rating and boosted their price objective for the company from $22.10 to $23.00 in a research report on Friday, May 16th. Barclays lowered their price objective on KE from $33.00 to $25.00 and set an "overweight" rating on the stock in a research report on Friday, August 15th. Wall Street Zen downgraded KE from a "buy" rating to a "hold" rating in a research report on Sunday, June 22nd. Citigroup lowered their price objective on KE from $25.80 to $24.80 and set a "buy" rating on the stock in a research report on Friday, May 16th. Finally, JPMorgan Chase & Co. decreased their target price on KE from $24.00 to $22.00 and set an "overweight" rating on the stock in a research report on Tuesday, August 12th. Seven analysts have rated the stock with a Buy rating, According to MarketBeat.com, the company has a consensus rating of "Buy" and an average target price of $24.97.

KE Price Performance

Shares of BEKE traded up $0.2850 during mid-day trading on Wednesday, reaching $18.2850. 2,807,141 shares of the company's stock traded hands, compared to its average volume of 8,586,561. The stock has a market cap of $21.77 billion, a P/E ratio of 34.50, a P/E/G ratio of 1.35 and a beta of -0.76. The stock's 50-day moving average is $18.44 and its two-hundred day moving average is $19.55. KE Holdings Inc. Sponsored ADR has a 12 month low of $13.28 and a 12 month high of $26.05.

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.