TT International Asset Management LTD Reduces Position in KE Holdings Inc. Sponsored ADR $BEKE

Key Points

• TT International Asset Management LTD has reduced its position in KE Holdings Inc. by 56.0%, now holding 1,021,124 shares after selling 1,297,734 shares in the second quarter.
• KE Holdings Inc. has a market capitalization of $24.31 billion and is currently trading at around $20.42, with a 52-week range between $13.90 and $26.05.
• Analysts have mixed opinions on KE, with Barclays lowering the price target from $33.00 to $25.00 while others maintain a consensus Buy rating with an average target price of $24.54.

TT International Asset Management LTD lessened its holdings in shares of KE Holdings Inc. Sponsored ADR (NYSE:BEKE - Free Report) by 56.0% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,021,124 shares of the company's stock after selling 1,297,734 shares during the period. KE makes up about 3.4% of TT International Asset Management LTD's portfolio, making the stock its 9th biggest holding. TT International Asset Management LTD owned about 0.08% of KE worth $18,115,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Siren L.L.C. lifted its holdings in shares of KE by 75.0% during the 1st quarter. Siren L.L.C. now owns 105,000 shares of the company's stock valued at $2,109,000 after purchasing an additional 45,000 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its holdings in shares of KE by 299.4% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 7,323,774 shares of the company's stock valued at $147,135,000 after purchasing an additional 5,490,172 shares during the last quarter. Bank of New York Mellon Corp lifted its holdings in shares of 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 purchasing an additional 87,659 shares during the last quarter. Axiom Investors LLC DE purchased a new stake in shares of KE during the 1st quarter valued at $25,547,000. Finally, Asset Management One Co. Ltd. lifted its holdings in shares of 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 purchasing an additional 15,802 shares during the last quarter. Hedge funds and other institutional investors own 39.34% of the company's stock.

KE Stock Up 2.2%

NYSE:BEKE opened at $20.42 on Thursday. KE Holdings Inc. Sponsored ADR has a 52 week low of $13.90 and a 52 week high of $26.05. The stock has a market capitalization of $24.31 billion, a PE ratio of 43.45, a price-to-earnings-growth ratio of 2.43 and a beta of -0.76. The stock's 50-day moving average price is $18.70 and its 200-day moving average price is $19.41.

Analyst Upgrades and Downgrades

Several analysts have recently commented on BEKE shares. Barclays decreased their price objective on KE from $33.00 to $25.00 and set an "overweight" rating for the company in a report on Friday, August 15th. Wall Street Zen lowered KE from a "buy" rating to a "hold" rating in a research note on Sunday, June 22nd. Jefferies Financial Group set a $22.00 target price on KE and gave the stock a "buy" rating in a research note on Tuesday, August 26th. Finally, JPMorgan Chase & Co. reduced their target price on KE from $24.00 to $22.00 and set an "overweight" rating for the company in a research note on Tuesday, August 12th. Seven equities research analysts have rated the stock with a Buy rating, According to data from MarketBeat, KE has a consensus rating of "Buy" and an average target price of $24.54.

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.

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