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

Matthews International Capital Management LLC trimmed its stake in KE Holdings Inc. (NYSE:BEKE) by 40.4% during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 3,677,481 shares of the company’s stock after selling 2,492,214 shares during the period. KE accounts for about 9.9% of Matthews International Capital Management LLC’s investment portfolio, making the stock its 2nd largest position. Matthews International Capital Management LLC owned approximately 0.30% of KE worth $50,492,000 as of its most recent filing with the SEC.

Several other institutional investors also recently added to or reduced their stakes in BEKE. Coatue Management LLC increased its position in KE by 169.7% in the 4th quarter. Coatue Management LLC now owns 5,015,918 shares of the company’s stock worth $81,308,000 after buying an additional 3,155,995 shares during the period. Capital World Investors grew its holdings in shares of KE by 24.9% during the 4th quarter. Capital World Investors now owns 13,861,852 shares of the company’s stock worth $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 during the 4th quarter worth approximately $43,492,000. Assenagon Asset Management S.A. grew its holdings in shares of KE by 171.9% during the 4th quarter. Assenagon Asset Management S.A. now owns 3,384,030 shares of the company’s stock worth $54,855,000 after purchasing an additional 2,139,397 shares in the last quarter. Finally, Wellington Management Group LLP grew its holdings in shares of KE by 12.0% during the 4th quarter. Wellington Management Group LLP now owns 18,807,246 shares of the company’s stock worth $304,865,000 after purchasing an additional 2,008,418 shares in the last quarter. 39.34% of the stock is owned by institutional investors.

KE Trading Down 0.7 %

BEKE stock traded down $0.11 during trading on Wednesday, hitting $15.17. The company had a trading volume of 9,812,499 shares, compared to its average volume of 8,467,292. The company has a market cap of $18.70 billion, a P/E ratio of 36.99, a P/E/G ratio of 3.20 and a beta of -0.72. The company has a fifty day moving average price of $16.20 and a two-hundred day moving average price of $14.93. KE Holdings Inc. has a fifty-two week low of $12.44 and a fifty-two week high of $20.48.

KE (NYSE:BEKE) last posted its quarterly earnings data on Thursday, May 23rd. The company reported $0.07 EPS for the quarter, topping analysts’ consensus estimates of $0.06 by $0.01. The company had revenue of $2.27 billion for 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%. On average, analysts expect that KE Holdings Inc. will post 0.72 earnings per share for the current year.

Analyst Upgrades and Downgrades

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

KE Company Profile

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.