KE Holdings Inc. (NYSE:BEKE) Position Cut by TB Alternative Assets Ltd.

TB Alternative Assets Ltd. trimmed its stake in shares of KE Holdings Inc. (NYSE:BEKE) by 46.1% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,168,597 shares of the company’s stock after selling 1,000,800 shares during the quarter. KE comprises 4.0% of TB Alternative Assets Ltd.’s investment portfolio, making the stock its 7th biggest holding. TB Alternative Assets Ltd. owned 0.09% of KE worth $16,045,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently added to or reduced their stakes in BEKE. Coatue Management LLC lifted 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 buying an additional 3,155,995 shares during the period. Capital World Investors lifted 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 buying an additional 2,763,209 shares during the period. Norges Bank acquired a new stake in shares of KE in the 4th quarter valued at approximately $43,492,000. Assenagon Asset Management S.A. lifted 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 buying an additional 2,139,397 shares during the period. Finally, Wellington Management Group LLP lifted 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 buying an additional 2,008,418 shares during the period. 39.34% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research firms have recently commented on BEKE. Citigroup reissued a “buy” rating and issued a $21.10 price target on shares of KE in a report on Tuesday, March 19th. Barclays lifted their price objective on KE from $28.00 to $30.00 and gave the stock an “overweight” rating in a report on Wednesday, May 29th. Finally, HSBC reduced their price objective on KE from $23.90 to $21.80 and set a “buy” rating for the company in a report on Friday, March 15th.

KE Price Performance

KE stock traded down $0.10 during mid-day trading on Wednesday, hitting $15.17. 7,455,754 shares of the company were exchanged, compared to its average volume of 8,453,661. The business’s 50 day simple moving average is $16.15 and its two-hundred day simple moving average is $14.93. The company has a market capitalization of $18.71 billion, a P/E ratio of 37.03, a PEG ratio of 3.20 and a beta of -0.72. KE Holdings Inc. has a 12-month low of $12.44 and a 12-month high of $20.48.

KE (NYSE:BEKE) last released its quarterly earnings results on Thursday, May 23rd. The company reported $0.07 earnings per share for the quarter, topping the consensus estimate of $0.06 by $0.01. The company had revenue of $2.27 billion during the quarter, compared to the consensus estimate 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 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.