Matthews International Capital Management LLC Lowers Stock Holdings in KE Holdings Inc. (NYSE:BEKE)

Matthews International Capital Management LLC lessened its stake in shares of KE Holdings Inc. (NYSE:BEKE) by 40.4% during the first quarter, Holdings Channel.com reports. The fund owned 3,677,481 shares of the company’s stock after selling 2,492,214 shares during the period. KE comprises 9.9% of Matthews International Capital Management LLC’s investment portfolio, making the stock its 2nd largest position. Matthews International Capital Management LLC’s holdings in KE were worth $50,492,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. Coatue Management LLC boosted its holdings in shares of KE by 169.7% in the 4th quarter. Coatue Management LLC now owns 5,015,918 shares of the company’s stock valued at $81,308,000 after purchasing an additional 3,155,995 shares in the last quarter. Capital World Investors boosted its holdings in shares of KE by 24.9% in the 4th quarter. Capital World Investors now owns 13,861,852 shares of the company’s stock valued at $224,701,000 after purchasing an additional 2,763,209 shares in the last quarter. Norges Bank acquired a new stake in shares of KE in the 4th quarter valued at $43,492,000. Assenagon Asset Management S.A. boosted its holdings in shares of KE by 171.9% in the 4th quarter. Assenagon Asset Management S.A. now owns 3,384,030 shares of the company’s stock valued at $54,855,000 after purchasing an additional 2,139,397 shares in the last quarter. Finally, Wellington Management Group LLP boosted its holdings in shares of KE by 12.0% in the 4th quarter. Wellington Management Group LLP now owns 18,807,246 shares of the company’s stock valued at $304,865,000 after purchasing an additional 2,008,418 shares in the last quarter. Institutional investors own 39.34% of the company’s stock.

Wall Street Analysts Forecast Growth

BEKE has been the topic of a number of research analyst reports. Citigroup reaffirmed a “buy” rating and issued a $21.10 target price on shares of KE in a report on Tuesday, March 19th. HSBC reduced their target price on KE from $23.90 to $21.80 and set a “buy” rating on the stock in a report on Friday, March 15th. Finally, Barclays raised their target price on KE from $28.00 to $30.00 and gave the company an “overweight” rating in a report on Wednesday, May 29th.

KE Trading Down 0.7 %

NYSE:BEKE traded down $0.11 during trading hours on Wednesday, hitting $15.17. 9,812,499 shares of the company were exchanged, compared to its average volume of 8,467,292. The stock has a market capitalization of $18.70 billion, a price-to-earnings ratio of 36.99, a price-to-earnings-growth ratio of 3.20 and a beta of -0.72. KE Holdings Inc. has a one year low of $12.44 and a one year high of $20.48. The company has a fifty day simple moving average of $16.20 and a 200 day simple moving average of $14.93.

KE (NYSE:BEKE) last announced its earnings results on Thursday, May 23rd. The company reported $0.07 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.06 by $0.01. The business had revenue of $2.27 billion during the quarter, compared to analyst estimates of $2.20 billion. KE had a return on equity of 6.04% and a net margin of 4.80%. Equities research analysts predict that KE Holdings Inc. will post 0.72 earnings per share for the current fiscal year.

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.