Norges Bank Takes $112.84 Million Position in KE Holdings Inc. Sponsored ADR $BEKE

Norges Bank acquired a new stake in shares of KE Holdings Inc. Sponsored ADR (NYSE:BEKE) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 7,160,110 shares of the company’s stock, valued at approximately $112,843,000. Norges Bank owned about 0.61% of KE at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently modified their holdings of the company. Ghisallo Capital Management LLC purchased a new position in KE in the third quarter valued at approximately $47,500,000. Athos Capital Ltd purchased a new position in KE in the third quarter valued at approximately $47,500,000. Invesco Ltd. raised its holdings in KE by 197.8% in the second quarter. Invesco Ltd. now owns 2,421,452 shares of the company’s stock valued at $42,957,000 after buying an additional 1,608,207 shares during the period. Burkehill Global Management LP purchased a new position in KE in the third quarter valued at approximately $28,500,000. Finally, Bank of America Corp DE raised its holdings in KE by 76.3% in the third quarter. Bank of America Corp DE now owns 3,067,917 shares of the company’s stock valued at $58,290,000 after buying an additional 1,327,775 shares during the period. Institutional investors and hedge funds own 39.34% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on the stock. Wall Street Zen upgraded shares of KE from a “sell” rating to a “buy” rating in a report on Saturday, May 23rd. Griffin Securities set a $24.40 price objective on shares of KE in a research report on Wednesday, April 8th. Barclays increased their price objective on shares of KE from $23.00 to $26.00 and gave the company an “overweight” rating in a research report on Wednesday, May 20th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of KE in a research report on Friday, March 27th. Finally, UBS Group raised shares of KE from a “neutral” rating to a “buy” rating and set a $23.00 price objective for the company in a research report on Tuesday, May 12th. Six investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $23.07.

KE Stock Down 1.8%

BEKE stock opened at $16.61 on Friday. KE Holdings Inc. Sponsored ADR has a twelve month low of $14.40 and a twelve month high of $20.98. The company has a current ratio of 3.12, a quick ratio of 3.12 and a debt-to-equity ratio of 0.01. The company has a market capitalization of $18.58 billion, a P/E ratio of 39.54 and a beta of -0.36. The firm has a 50 day simple moving average of $16.63 and a 200-day simple moving average of $16.92.

KE (NYSE:BEKE) last released its quarterly earnings results on Sunday, February 15th. The company reported $0.02 earnings per share for the quarter. KE had a net margin of 3.77% and a return on equity of 5.47%. The business had revenue of $3.17 billion during the quarter. On average, equities research analysts predict that KE Holdings Inc. Sponsored ADR will post 0.78 earnings per share for the current fiscal year.

KE Dividend Announcement

The business also recently disclosed an annual dividend, which was paid on Friday, April 24th. Shareholders of record on Wednesday, April 8th were issued a dividend of $0.276 per share. This represents a yield of 176.0%. The ex-dividend date of this dividend was Wednesday, April 8th. KE’s dividend payout ratio (DPR) is currently 54.76%.

KE Company Profile

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.