Siren L.L.C. Grows Position in KE Holdings Inc. Sponsored ADR $BEKE

Key Points

• Siren L.L.C. has increased its stake in KE Holdings Inc. by 75%, now owning 105,000 shares worth approximately $2.1 million.
• Other institutional investors have also significantly increased their holdings, with Mirae Asset Global Investments boosting its position by 3,203% in the first quarter.
• Despite a recent market downturn, analysts maintain a consensus Buy rating for KE Holdings with an average price target of $24.54.

Siren L.L.C. boosted its position in KE Holdings Inc. Sponsored ADR (NYSE:BEKE - Free Report) by 75.0% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 105,000 shares of the company's stock after buying an additional 45,000 shares during the quarter. Siren L.L.C.'s holdings in KE were worth $2,109,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently made changes to their positions in the company. Caisse DE Depot ET Placement DU Quebec purchased a new stake in KE in the first quarter worth about $1,565,000. Quantitative Investment Management LLC bought a new position in shares of KE in the first quarter worth approximately $327,000. Axiom Investors LLC DE purchased a new position in shares of KE in the first quarter worth $25,547,000. APG Asset Management N.V. boosted its holdings in shares of KE by 1.4% during the 1st quarter. APG Asset Management N.V. now owns 1,376,966 shares of the company's stock valued at $25,609,000 after acquiring an additional 19,600 shares during the last quarter. Finally, BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp raised its stake in KE by 8.9% during the 1st quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 271,950 shares of the company's stock valued at $5,463,000 after buying an additional 22,200 shares during the last quarter. Hedge funds and other institutional investors own 39.34% of the company's stock.

Wall Street Analyst Weigh In

BEKE has been the subject of several analyst reports. Citigroup reduced their target price 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. Jefferies Financial Group set a $22.00 price objective on KE and gave the company a "buy" rating in a research note on Tuesday, August 26th. Wall Street Zen lowered KE from a "buy" rating to a "hold" rating in a research note on Sunday, June 22nd. UBS Group raised KE from a "neutral" rating to a "buy" rating and increased their price objective for the stock from $22.10 to $23.00 in a research note on Friday, May 16th. Finally, Barclays reduced their price objective on shares of KE from $33.00 to $25.00 and set an "overweight" rating for the company in a research note on Friday, August 15th. Seven investment analysts have rated the stock with a Buy rating, According to data from MarketBeat, KE currently has a consensus rating of "Buy" and an average target price of $24.54.

KE Trading Up 0.9%

KE stock traded up $0.18 during mid-day trading on Wednesday, hitting $18.62. The company had a trading volume of 2,025,750 shares, compared to its average volume of 8,510,961. The company has a market capitalization of $22.17 billion, a price-to-earnings ratio of 39.61, a P/E/G ratio of 1.62 and a beta of -0.76. KE Holdings Inc. Sponsored ADR has a 12-month low of $13.28 and a 12-month high of $26.05. The company's fifty day moving average is $18.35 and its 200-day moving average is $19.51.

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.