Trivest Advisors Ltd Purchases New Holdings in KE Holdings Inc. Sponsored ADR (NYSE:BEKE)

Key Points

• Trivest Advisors Ltd has acquired a new stake in KE Holdings Inc. valued at approximately $6,047,000, making KE about 0.5% of its portfolio.
• Several hedge funds, including the Bank of New York Mellon Corp and Asset Management One Co. Ltd., have significantly increased their stakes in KE Holdings during the first quarter.
• KE Holdings' stock recently received mixed analyst ratings, with one downgrade to "hold" and multiple upgrades maintaining a consensus rating of "Moderate Buy."

Trivest Advisors Ltd bought a new position in KE Holdings Inc. Sponsored ADR (NYSE:BEKE - Free Report) in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 301,000 shares of the company's stock, valued at approximately $6,047,000. KE comprises about 0.5% of Trivest Advisors Ltd's investment portfolio, making the stock its 14th largest position.

Several other institutional investors and hedge funds have also recently bought and sold shares of the company. Canada Pension Plan Investment Board boosted its holdings in shares of KE by 111,822,650.0% in the fourth quarter. Canada Pension Plan Investment Board now owns 11,182,275 shares of the company's stock valued at $205,978,000 after acquiring an additional 11,182,265 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. boosted its holdings in shares of KE by 3,203.0% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 8,002,448 shares of the company's stock valued at $160,769,000 after acquiring an additional 7,760,169 shares in the last quarter. Norges Bank bought a new position in shares of KE in the fourth quarter valued at approximately $130,167,000. Aspex Management HK Ltd bought a new position in shares of KE in the fourth quarter valued at approximately $119,996,000. Finally, Nuveen Asset Management LLC boosted its holdings in shares of KE by 504.2% in the fourth quarter. Nuveen Asset Management LLC now owns 5,643,271 shares of the company's stock valued at $103,949,000 after acquiring an additional 4,709,266 shares in the last quarter. Institutional investors own 39.34% of the company's stock.

Analyst Ratings Changes

Several research firms have recently issued reports on BEKE. UBS Group upgraded shares of KE from a "neutral" rating to a "buy" rating and increased their price objective for the company from $22.10 to $23.00 in a report on Friday, May 16th. 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 cut 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 six have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $27.16.

KE Trading Down 1.3%

BEKE stock traded down $0.24 on Friday, hitting $18.18. 3,586,862 shares of the company's stock traded hands, compared to its average volume of 8,874,104. KE Holdings Inc. Sponsored ADR has a 1-year low of $12.92 and a 1-year high of $26.05. The stock has a market cap of $21.97 billion, a price-to-earnings ratio of 34.31, a P/E/G ratio of 1.39 and a beta of -0.76. The stock has a fifty day moving average of $18.61 and a 200-day moving average of $19.46.

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.