M&G PLC Sells 8,560,272 Shares of KE Holdings Inc. Sponsored ADR $BEKE

M&G PLC trimmed its stake in KE Holdings Inc. Sponsored ADR (NYSE:BEKE) by 94.9% during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 458,505 shares of the company’s stock after selling 8,560,272 shares during the period. M&G PLC’s holdings in KE were worth $8,253,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Vise Technologies Inc. bought a new stake in shares of KE during the 2nd quarter worth $433,000. Aviva PLC grew its position in shares of KE by 1.4% in the second quarter. Aviva PLC now owns 498,395 shares of the company’s stock valued at $8,842,000 after purchasing an additional 7,055 shares during the last quarter. Fox Run Management L.L.C. bought a new position in shares of KE in the second quarter worth about $335,000. Savant Capital LLC lifted its position in shares of KE by 10.6% during the 2nd quarter. Savant Capital LLC now owns 16,743 shares of the company’s stock worth $297,000 after purchasing an additional 1,601 shares during the last quarter. Finally, Carrhae Capital LLP acquired a new position in shares of KE during the 2nd quarter worth about $24,147,000. Institutional investors and hedge funds own 39.34% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on the stock. Jefferies Financial Group set a $22.00 price objective on shares of KE and gave the stock a “buy” rating in a research note on Tuesday, August 26th. Barclays reduced their target price on shares of KE from $33.00 to $25.00 and set an “overweight” rating for the company in a research note on Friday, August 15th. Weiss Ratings restated a “hold (c+)” rating on shares of KE in a research note on Wednesday, October 8th. JPMorgan Chase & Co. cut their price target on KE from $24.00 to $22.00 and set an “overweight” rating for the company in a report on Tuesday, August 12th. Finally, UBS Group downgraded KE from a “buy” rating to a “neutral” rating and set a $19.00 price objective for the company. in a research report on Friday, October 31st. Five investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat.com, KE has an average rating of “Moderate Buy” and a consensus target price of $23.30.

KE Stock Up 1.7%

Shares of BEKE stock opened at $16.70 on Thursday. The company has a market capitalization of $19.88 billion, a P/E ratio of 39.75, a P/E/G ratio of 2.97 and a beta of -0.64. KE Holdings Inc. Sponsored ADR has a 12-month low of $15.39 and a 12-month high of $25.17. The firm has a 50-day moving average price of $18.44 and a 200 day moving average price of $18.61.

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.