Thornburg Investment Management Inc. Sells 26,973 Shares of KE Holdings Inc. (NYSE:BEKE)

Thornburg Investment Management Inc. lessened its stake in shares of KE Holdings Inc. (NYSE:BEKE) by 4.4% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 590,457 shares of the company’s stock after selling 26,973 shares during the quarter. Thornburg Investment Management Inc.’s holdings in KE were worth $28,153,000 at the end of the most recent reporting period.

Other hedge funds also recently added to or reduced their stakes in the company. Eaton Vance Management bought a new position in KE in the 1st quarter valued at about $46,000. American International Group Inc. purchased a new stake in KE in the 1st quarter valued at about $74,000. Franchise Capital Ltd purchased a new stake in KE in the 1st quarter valued at about $169,000. Financial Advocates Investment Management purchased a new stake in KE in the 2nd quarter valued at about $222,000. Finally, Sumitomo Mitsui DS Asset Management Company Ltd purchased a new stake in shares of KE during the 2nd quarter worth approximately $234,000. 31.34% of the stock is currently owned by institutional investors.

KE stock traded up $0.52 during mid-day trading on Friday, hitting $16.77. The company’s stock had a trading volume of 336,706 shares, compared to its average volume of 12,567,726. The stock has a market cap of $15.02 billion and a price-to-earnings ratio of 52.42. The business has a 50 day moving average price of $23.88 and a 200-day moving average price of $42.58. KE Holdings Inc. has a 12 month low of $15.35 and a 12 month high of $79.40.

KE (NYSE:BEKE) last posted its quarterly earnings results on Wednesday, August 11th. The company reported $0.14 earnings per share for the quarter, missing the consensus estimate of $0.18 by ($0.04). The business had revenue of $3.74 billion during the quarter, compared to the consensus estimate of $3.41 billion. KE had a return on equity of 4.92% and a net margin of 3.82%. Equities analysts forecast that KE Holdings Inc. will post 0.19 earnings per share for the current year.

A number of research analysts recently weighed in on BEKE shares. The Goldman Sachs Group lowered shares of KE from a “buy” rating to a “neutral” rating and reduced their price objective for the company from $35.00 to $19.30 in a research note on Monday, August 16th. Zacks Investment Research upgraded shares of KE from a “sell” rating to a “hold” rating in a research note on Wednesday. JPMorgan Chase & Co. downgraded shares of KE from an “overweight” rating to a “neutral” rating in a report on Wednesday, August 11th. Credit Suisse Group downgraded shares of KE from an “outperform” rating to a “neutral” rating and set a $18.00 price target for the company. in a report on Thursday, August 12th. Finally, 86 Research raised shares of KE from a “sell” rating to a “hold” rating and set a $39.00 price target for the company in a report on Thursday, May 20th. Six equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Hold” and an average target price of $47.11.

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. The company operates in three segments: Existing Home Transaction Services, New Home Transaction Services, and Emerging and Other Services.

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Institutional Ownership by Quarter for KE (NYSE:BEKE)

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