Alberta Investment Management Corp Sells 850,822 Shares of KE Holdings Inc. Sponsored ADR $BEKE

Alberta Investment Management Corp lessened its holdings in KE Holdings Inc. Sponsored ADR (NYSE:BEKE) by 91.1% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 83,200 shares of the company’s stock after selling 850,822 shares during the quarter. Alberta Investment Management Corp’s holdings in KE were worth $1,476,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in the stock. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its holdings in shares of KE by 299.4% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 7,323,774 shares of the company’s stock valued at $147,135,000 after purchasing an additional 5,490,172 shares in the last quarter. Siren L.L.C. raised its holdings in KE by 75.0% during the first quarter. Siren L.L.C. now owns 105,000 shares of the company’s stock worth $2,109,000 after acquiring an additional 45,000 shares in the last quarter. Axiom Investors LLC DE bought a new position in shares of KE in the first quarter valued at $25,547,000. Acadian Asset Management LLC acquired a new position in shares of KE during the 1st quarter worth about $1,479,000. Finally, Scientech Research LLC acquired a new stake in shares of KE in the first quarter valued at approximately $777,000. Institutional investors and hedge funds own 39.34% of the company’s stock.

Wall Street Analysts Forecast Growth

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

KE Price Performance

Shares of NYSE BEKE opened at $16.68 on Tuesday. KE Holdings Inc. Sponsored ADR has a 1 year low of $15.39 and a 1 year high of $25.17. The company has a 50-day moving average price of $18.30 and a 200-day moving average price of $18.51. The stock has a market capitalization of $19.87 billion, a P/E ratio of 39.72, a P/E/G ratio of 3.05 and a beta of -0.64.

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.