Blue Creek Capital Management Ltd Reduces Position in KE Holdings Inc. (NYSE:BEKE)

Blue Creek Capital Management Ltd lowered its holdings in KE Holdings Inc. (NYSE:BEKE) by 5.6% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,454,126 shares of the company’s stock after selling 87,000 shares during the quarter. KE accounts for about 16.9% of Blue Creek Capital Management Ltd’s investment portfolio, making the stock its 5th biggest holding. Blue Creek Capital Management Ltd owned 0.12% of KE worth $23,571,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of the business. EWA LLC raised its stake in shares of KE by 44.7% in the fourth quarter. EWA LLC now owns 20,334 shares of the company’s stock worth $330,000 after purchasing an additional 6,283 shares during the last quarter. Headlands Technologies LLC purchased a new position in shares of KE in the fourth quarter worth $76,000. Truist Financial Corp raised its stake in shares of KE by 17.6% in the fourth quarter. Truist Financial Corp now owns 22,391 shares of the company’s stock worth $363,000 after purchasing an additional 3,347 shares during the last quarter. Yunqi Capital Ltd purchased a new stake in KE during the fourth quarter valued at $8,269,000. Finally, Jennison Associates LLC increased its position in KE by 12.9% during the fourth quarter. Jennison Associates LLC now owns 1,573,927 shares of the company’s stock valued at $25,513,000 after acquiring an additional 180,150 shares during the last quarter. Hedge funds and other institutional investors own 39.34% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on BEKE shares. HSBC reduced their price objective on KE from $23.90 to $21.80 and set a “buy” rating for the company in a research report on Friday, March 15th. Citigroup reiterated a “buy” rating and set a $21.10 price objective on shares of KE in a research report on Tuesday, March 19th.

KE Price Performance

Shares of NYSE:BEKE traded up $1.53 during trading on Thursday, hitting $16.48. 8,715,401 shares of the company’s stock were exchanged, compared to its average volume of 8,161,468. KE Holdings Inc. has a 52-week low of $12.44 and a 52-week high of $19.95. The business’s 50-day simple moving average is $13.79 and its 200 day simple moving average is $14.53. The company has a market cap of $20.32 billion, a price-to-earnings ratio of 23.10, a PEG ratio of 0.41 and a beta of -0.77.

KE (NYSE:BEKE) last released its quarterly earnings results on Thursday, March 14th. The company reported $0.11 earnings per share for the quarter, beating the consensus estimate of $0.08 by $0.03. The business had revenue of $2.85 billion during the quarter, compared to analysts’ expectations of $2.66 billion. KE had a return on equity of 9.19% and a net margin of 7.62%. On average, sell-side analysts anticipate that KE Holdings Inc. will post 0.77 EPS for the current fiscal year.

KE Dividend Announcement

The company also recently declared an annual dividend, which was paid on Wednesday, April 24th. Shareholders of record on Friday, April 5th were issued a dividend of $0.351 per share. This represents a yield of 2.2%. The ex-dividend date was Thursday, April 4th. KE’s dividend payout ratio is presently 44.93%.

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.