KE Holdings Inc. (NYSE:BEKE) is Turiya Advisors Asia Ltd’s 2nd Largest Position

Turiya Advisors Asia Ltd grew its position in KE Holdings Inc. (NYSE:BEKE) by 56.2% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 5,070,206 shares of the company’s stock after buying an additional 1,824,206 shares during the quarter. KE accounts for approximately 31.1% of Turiya Advisors Asia Ltd’s holdings, making the stock its 2nd biggest holding. Turiya Advisors Asia Ltd owned 0.41% of KE worth $71,743,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. M&G Plc purchased a new stake in KE in the 1st quarter valued at about $135,880,000. RWC Asset Advisors US LLC purchased a new stake in KE in the 2nd quarter valued at about $70,807,000. Price T Rowe Associates Inc. MD grew its holdings in KE by 14.1% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 38,363,638 shares of the company’s stock valued at $526,734,000 after buying an additional 4,736,152 shares during the period. Coatue Management LLC grew its holdings in KE by 169.7% in the 4th quarter. Coatue Management LLC now owns 5,015,918 shares of the company’s stock valued at $81,308,000 after buying an additional 3,155,995 shares during the period. Finally, Capital World Investors grew its holdings in KE by 24.9% in the 4th quarter. Capital World Investors now owns 13,861,852 shares of the company’s stock valued at $224,701,000 after buying an additional 2,763,209 shares during the period. Hedge funds and other institutional investors own 39.34% of the company’s stock.

KE Stock Up 3.1 %

BEKE stock opened at $13.78 on Wednesday. KE Holdings Inc. has a 52-week low of $12.44 and a 52-week high of $20.48. The stock’s 50 day moving average is $14.36 and its two-hundred day moving average is $14.89. The company has a market capitalization of $16.99 billion, a PE ratio of 33.61, a P/E/G ratio of 3.13 and a beta of -0.74.

KE (NYSE:BEKE) last posted its quarterly earnings data on Monday, August 12th. The company reported $2.28 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.22 by $2.06. KE had a return on equity of 6.74% and a net margin of 5.32%. The company had revenue of $23.37 billion for the quarter, compared to the consensus estimate of $21.51 billion. During the same period in the previous year, the business earned $0.17 EPS. KE’s revenue for the quarter was up 19.9% compared to the same quarter last year. As a group, sell-side analysts anticipate that KE Holdings Inc. will post 0.68 EPS for the current year.

Analysts Set New Price Targets

BEKE has been the topic of several research analyst reports. Citigroup initiated coverage on KE in a research note on Tuesday, September 10th. They issued a “buy” rating and a $23.80 price objective on the stock. Barclays boosted their price target on KE from $28.00 to $30.00 and gave the stock an “overweight” rating in a research report on Wednesday, May 29th.

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.