Connor Clark & Lunn Investment Management Ltd. Reduces Holdings in KE Holdings Inc. (NYSE:BEKE)

Connor Clark & Lunn Investment Management Ltd. trimmed its stake in KE Holdings Inc. (NYSE:BEKE) by 67.9% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 225,855 shares of the company’s stock after selling 478,262 shares during the period. Connor Clark & Lunn Investment Management Ltd.’s holdings in KE were worth $4,160,000 at the end of the most recent quarter.

Other hedge funds have also recently modified their holdings of the company. TT International Asset Management LTD purchased a new position in shares of KE in the 4th quarter valued at $717,000. XTX Topco Ltd grew its position in KE by 324.8% during the 3rd quarter. XTX Topco Ltd now owns 117,780 shares of the company’s stock worth $2,345,000 after purchasing an additional 90,054 shares during the last quarter. Headwater Capital Co Ltd purchased a new position in KE during the 4th quarter worth $11,052,000. Sumitomo Mitsui Trust Group Inc. grew its position in KE by 5.1% during the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 1,583,585 shares of the company’s stock worth $31,529,000 after purchasing an additional 76,517 shares during the last quarter. Finally, B. Metzler seel. Sohn & Co. Holding AG purchased a new position in KE during the 3rd quarter worth $530,000. 39.34% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Separately, Barclays raised their price objective on shares of KE from $30.00 to $33.00 and gave the stock an “overweight” rating in a research report on Monday, November 25th.

KE Stock Performance

Shares of KE stock opened at $24.40 on Monday. KE Holdings Inc. has a 1 year low of $12.48 and a 1 year high of $26.05. The company has a market capitalization of $29.49 billion, a P/E ratio of 49.80, a PEG ratio of 3.45 and a beta of -0.82. The company’s fifty day moving average is $19.41 and its two-hundred day moving average is $19.25.

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.