KE Sees Unusually Large Options Volume (NYSE:BEKE)

Key Points

• BEKE options activity surged: Traders bought 25,417 call options, roughly 1,592% above the stock’s typical daily call volume.
• Institutional ownership increased: Several hedge funds and asset managers expanded their positions, with institutional investors collectively owning 39.34% of KE Holdings.
• Analysts remain broadly bullish: Seven analysts rate the stock Buy and one rates it Hold, producing a “Moderate Buy” consensus and an average price target of $23.37 versus the recent $17.85 share price.

KE Holdings Inc. Sponsored ADR (NYSE:BEKE - Get Free Report) was the target of unusually large options trading on Monday. Stock traders acquired 25,417 call options on the company. This represents an increase of approximately 1,592% compared to the typical daily volume of 1,502 call options.

Institutional Investors Weigh In On KE

A number of hedge funds and other institutional investors have recently modified their holdings of BEKE. Quantinno Capital Management LP raised its stake in KE by 86.7% during the first quarter. Quantinno Capital Management LP now owns 127,216 shares of the company's stock worth $1,904,000 after purchasing an additional 59,079 shares during the period. Mirabaud Asset Management Ltd acquired a new position in KE in the fourth quarter valued at $2,266,000. Perseverance Asset Management International grew its position in KE by 20.4% during the first quarter. Perseverance Asset Management International now owns 1,391,439 shares of the company's stock valued at $20,830,000 after acquiring an additional 236,000 shares during the period. Oppenheimer Asset Management Inc. grew its position in KE by 34.1% during the fourth quarter. Oppenheimer Asset Management Inc. now owns 433,785 shares of the company's stock valued at $6,836,000 after acquiring an additional 110,293 shares during the period. Finally, M&T Bank Corp acquired a new stake in KE during the fourth quarter worth about $998,000. 39.34% of the stock is currently owned by hedge funds and other institutional investors.

KE Price Performance

KE stock traded up $0.10 during mid-day trading on Monday, hitting $17.85. 4,340,916 shares of the company were exchanged, compared to its average volume of 4,428,744. KE has a 12-month low of $13.81 and a 12-month high of $20.98. The company has a market capitalization of $19.97 billion, a P/E ratio of 29.19 and a beta of -0.29. The business's 50 day simple moving average is $16.16 and its two-hundred day simple moving average is $16.57. The company has a debt-to-equity ratio of 0.01, a current ratio of 3.12 and a quick ratio of 3.12.

Wall Street Analyst Weigh In

A number of research firms have commented on BEKE. Wall Street Zen downgraded KE from a "buy" rating to a "hold" rating in a research report on Saturday, August 1st. CLSA started coverage on KE in a research report on Wednesday, August 19th. They issued an "outperform" rating and a $23.80 price target for the company. Morgan Stanley reaffirmed an "overweight" rating on shares of KE in a research note on Friday. The Goldman Sachs Group upgraded shares of KE from a "neutral" rating to a "buy" rating and set a $21.00 price objective on the stock in a research report on Monday, May 4th. Finally, Barclays raised their target price on shares of KE from $23.00 to $26.00 and gave the company an "overweight" rating in a report on Wednesday, May 20th. Seven equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company's stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $23.37.

About KE

KE Holdings Inc NYSE: BEKE is a technology-driven real estate services company that operates an integrated online and offline platform for housing transactions and related services in mainland China. The company provides consumer-facing property listing marketplaces alongside a broad network of offline brokerage offices and agents, aiming to facilitate sales, rentals and new-home transactions for individual and institutional clients.

The company’s offerings span property listings for new and resale homes, rental listings, brokerage representation and transaction facilitation.

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