Russell Investments Group Ltd. Acquires 1,042,237 Shares of KE Holdings Inc. Sponsored ADR (NYSE:BEKE)

Key Points

• Russell Investments Group Ltd. increased its stake in KE Holdings Inc. by 241.2% in the first quarter, acquiring an additional 1,042,237 shares, bringing its total holdings to 1,474,292 shares valued at approximately $29.6 million.
• Institutional investors now own 39.34% of KE Holdings, with other firms like Bank of New York Mellon and Vanguard Group also increasing their holdings during the same period.
• Wall Street analysts have provided mixed reviews on KE's stock, with Barclays lowering its price target to $25.00 while UBS Group upgraded its rating and set a new target of $23.00.

Russell Investments Group Ltd. lifted its holdings in KE Holdings Inc. Sponsored ADR (NYSE:BEKE - Free Report) by 241.2% in the first quarter, according to the company in its most recent filing with the SEC. The fund owned 1,474,292 shares of the company's stock after acquiring an additional 1,042,237 shares during the quarter. Russell Investments Group Ltd. owned 0.12% of KE worth $29,635,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in the business. Bank of New York Mellon Corp raised its holdings in KE by 13.4% during the 1st quarter. Bank of New York Mellon Corp now owns 741,494 shares of the company's stock valued at $14,897,000 after buying an additional 87,659 shares during the last quarter. Asset Management One Co. Ltd. raised its holdings in KE by 14.6% during the 1st quarter. Asset Management One Co. Ltd. now owns 123,886 shares of the company's stock valued at $2,489,000 after buying an additional 15,802 shares during the last quarter. GAMMA Investing LLC bought a new stake in KE during the 1st quarter valued at $34,000. Myriad Asset Management US LP bought a new stake in KE during the 1st quarter valued at $2,168,000. Finally, Vanguard Group Inc. raised its holdings in KE by 3.8% during 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 during the last quarter. 39.34% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on the stock. Barclays lowered their price target on shares of KE from $33.00 to $25.00 and set an "overweight" rating for the company in a report on Friday. UBS Group upgraded shares of KE from a "neutral" rating to a "buy" rating and upped their price target for the company from $22.10 to $23.00 in a report on Friday, May 16th. 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 decreased their price objective 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, Wall Street Zen lowered shares of KE from a "buy" rating to a "hold" rating in a report on Sunday, June 22nd. One research analyst has rated the stock with a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $24.97.

KE Trading Down 0.3%

Shares of NYSE BEKE opened at $18.33 on Friday. KE Holdings Inc. Sponsored ADR has a 12 month low of $13.28 and a 12 month high of $26.05. The firm has a market capitalization of $21.83 billion, a PE ratio of 34.59, a price-to-earnings-growth ratio of 1.37 and a beta of -0.76. The firm has a fifty day simple moving average of $18.48 and a two-hundred day simple moving average of $19.53.

About KE

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.

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