Rovida Investment Management Ltd Grows Stake in KE Holdings Inc. Sponsored ADR (NYSE:BEKE)

Key Points

• Rovida Investment Management Ltd increased its holdings in KE Holdings Inc. by 37.5%, acquiring 150,000 shares and bringing its total ownership to 550,000 shares valued at approximately $11,044,000.
• Institutional investors currently hold 39.34% of KE Holdings' stock, with other notable increases in holdings from firms such as Bank of New York Mellon Corp and Asset Management One Co. Ltd.
• Currently, KE Holdings has an average price target of $27.16 according to analysts, with mixed ratings including a "buy" from Citigroup and a downgrade from Wall Street Zen.

Rovida Investment Management Ltd raised its position in shares of KE Holdings Inc. Sponsored ADR (NYSE:BEKE - Free Report) by 37.5% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 550,000 shares of the company's stock after acquiring an additional 150,000 shares during the period. KE makes up approximately 3.4% of Rovida Investment Management Ltd's investment portfolio, making the stock its 8th largest position. Rovida Investment Management Ltd's holdings in KE were worth $11,044,000 at the end of the most recent reporting period.

Other institutional investors also recently made changes to their positions in the company. First Affirmative Financial Network lifted its stake in KE by 4.2% during the first quarter. First Affirmative Financial Network now owns 14,887 shares of the company's stock worth $299,000 after purchasing an additional 599 shares during the last quarter. GAMMA Investing LLC bought a new stake in KE during the first quarter worth $34,000. Sumitomo Mitsui DS Asset Management Company Ltd lifted its stake in KE by 1.1% during the first quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 169,159 shares of the company's stock worth $3,398,000 after purchasing an additional 1,774 shares during the last quarter. Oppenheimer Asset Management Inc. lifted its stake in KE by 1.1% during the first quarter. Oppenheimer Asset Management Inc. now owns 296,970 shares of the company's stock worth $5,966,000 after purchasing an additional 3,312 shares during the last quarter. Finally, Wealthquest Corp bought a new stake in KE during the first quarter worth $79,000. Institutional investors own 39.34% of the company's stock.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on BEKE shares. Wall Street Zen cut KE from a "buy" rating to a "hold" rating in a research note on Sunday, June 22nd. JPMorgan Chase & Co. lowered their price target on shares of KE from $24.00 to $22.00 and set an "overweight" rating for the company in a report on Tuesday. Citigroup lowered their price target 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. Finally, UBS Group upgraded shares of KE from a "neutral" rating to a "buy" rating and upped their price target for the stock from $22.10 to $23.00 in a report on Friday, May 16th. One equities research analyst has rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $26.30.

KE Stock Up 2.5%

Shares of NYSE:BEKE traded up $0.45 during trading on Wednesday, hitting $18.37. 1,212,704 shares of the company were exchanged, compared to its average volume of 8,695,243. The company has a market capitalization of $21.88 billion, a P/E ratio of 34.76, a price-to-earnings-growth ratio of 1.32 and a beta of -0.76. KE Holdings Inc. Sponsored ADR has a 1-year low of $13.28 and a 1-year high of $26.05. The business's 50 day moving average is $18.50 and its 200-day moving average is $19.52.

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.