Bank of Montreal Can acquired a new stake in KE Holdings Inc. (NYSE:BEKE – Get Rating) during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 480,295 shares of the company’s stock, valued at approximately $9,284,000.
Several other hedge funds have also modified their holdings of the stock. BlackRock Inc. raised its stake in shares of KE by 20.2% in the first quarter. BlackRock Inc. now owns 19,606,566 shares of the company’s stock valued at $242,534,000 after acquiring an additional 3,289,479 shares in the last quarter. Krane Funds Advisors LLC raised its stake in shares of KE by 21.1% in the first quarter. Krane Funds Advisors LLC now owns 15,617,274 shares of the company’s stock valued at $193,186,000 after acquiring an additional 2,715,856 shares in the last quarter. Viking Global Investors LP raised its stake in shares of KE by 360.2% in the first quarter. Viking Global Investors LP now owns 13,440,125 shares of the company’s stock valued at $166,254,000 after acquiring an additional 10,519,869 shares in the last quarter. Aspex Management HK Ltd raised its stake in shares of KE by 33.3% in the first quarter. Aspex Management HK Ltd now owns 11,999,382 shares of the company’s stock valued at $148,432,000 after acquiring an additional 2,999,382 shares in the last quarter. Finally, JPMorgan Chase & Co. raised its stake in shares of KE by 20.7% in the first quarter. JPMorgan Chase & Co. now owns 11,629,195 shares of the company’s stock valued at $143,852,000 after acquiring an additional 1,990,614 shares in the last quarter. 35.00% of the stock is currently owned by institutional investors and hedge funds.
Wall Street Analysts Forecast Growth
Several brokerages have recently issued reports on BEKE. Citigroup increased their price objective on KE from $22.50 to $23.80 in a research note on Wednesday, August 24th. Barclays increased their target price on KE from $26.00 to $27.00 and gave the company an “overweight” rating in a report on Friday, October 28th. One analyst has rated the stock with a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $21.44.
KE Stock Performance
KE (NYSE:BEKE – Get Rating) last issued its quarterly earnings data on Tuesday, August 23rd. The company reported ($0.23) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.25) by $0.02. The company had revenue of $2.06 billion for the quarter, compared to analyst estimates of $1.78 billion. KE had a negative return on equity of 7.67% and a negative net margin of 8.26%. As a group, research analysts predict that KE Holdings Inc. will post -0.03 EPS for the current year.
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. The company operates in three segments: Existing Home Transaction Services, New Home Transaction Services, and Emerging and Other Services.
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