Wellington Management Co. LLP recently announced the acquisition of new stake in KE Holdings Inc. (NYSE:BEKE). The institutional investor has increased its shareholding in the Real Estate company by 134.16% to 30.94 million shares with purchase of 17.73 million shares. This fresh investment now brings its stake to 2.55% valued currently at $314.96 million. In addition, T. Rowe Price Associates, Inc. raised its holdings by 2.2 million to 20.36 million shares. And BlackRock Fund Advisors has lifted its position by 104.00% or 10.03 million shares – to 19.68 million shares.
With over 10.17 million KE Holdings Inc. (BEKE) shares trading Monday and a closing price of $14.71 on the day, the dollar volume was approximately $149.65 million. The shares have shown a positive half year performance of 24.03% and its price on 11/21/22 lost nearly -0.68%. Currently, there are 1.19B common shares owned by the public and among those 877.30M shares have been available to trade.
An analysis of what Wall Street brokers have to say about the expected price targets for this stock gives us this picture: 21 analysts who have offered their price forecasts for BEKE have a consensus price objective of $146.18. The analysts have set the share’s price value over the next 12 months at a high of $202.59 and a low of $102.76. The average price target is 34.09% above its recent price level and an upside to the estimated low will see the stock gain 85.69% over that period. But an upside of 92.74% will see the stock hit the forecast high price target while median target price for the stock is $146.72.
The top 3 mutual fund holders in KE Holdings Inc. are KraneShares CSI China Internet ET, Morgan Stanley Invt. Fds. – Asia, and Vanguard Emerging Markets Stock I. KraneShares CSI China Internet ET owns 17.06 million shares of the company’s stock, all valued at over $173.65 million. The company bought an additional 28686.0 shares recently to bring their total holdings to about 1.41% of the shares outstanding. Morgan Stanley Invt. Fds. – Asia sold -0.64 million shares to see its total holdings shrink to 14.21 million shares valued at over $144.67 million and representing 1.17% of the shares outstanding. Vanguard Emerging Markets Stock I now owns shares totaling to 0.73% of the shares outstanding.
Shares of KE Holdings Inc. (NYSE: BEKE) opened at $14.41, down -$0.4 from a prior closing price of $14.81. However, the script later moved the day high at 14.89, down -0.68%. The company’s stock has a 5-day price change of 5.07% and -12.60% over the past three months. BEKE shares are trading -26.89% year to date (YTD), with the 12-month market performance down to -38.22% lower. It has a 12-month low price of $7.31 and touched a high of $24.85 over the same period. BEKE has an average intraday trading volume of 12.88 million shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by 23.04%, 3.07%, and -1.67% respectively.
Institutional ownership of KE Holdings Inc. (NYSE: BEKE) shares accounts for 41.70% of the company’s 1.19B shares outstanding. Mutual fund holders own 14.75%, while other institutional holders and individual stakeholders account for 23.44% and — respectively.
It has a market capitalization of $17.51B. The earnings-per-share (ttm) stands at -$0.61. Price movements for the stock have been influenced by the stock’s volatility, which stands at 7.36% over the week and 8.30% over the month.
Analysts forecast that KE Holdings Inc. (BEKE) will achieve an EPS of $0.12 for the current quarter, $0.14 for the next quarter and $0.6 for 2023. The lowest estimate earnings-per-share for the quarter is $0.11 while analysts give the company a high EPS estimate of $0.15. Comparatively, EPS for the current quarter was -$0.12 a year ago. Earnings per share for the fiscal year are expected to decrease by -146.50%, and 227.64% over the next financial year.
If you are looking to buy this stock, then you may note that the average analyst recommendation by 21 brokerage firm advisors rate KE Holdings Inc. (BEKE) as a “Moderate Buy” at a consensus score of 2.00. Specifically, 16 Wall Street analysts polled rate the stock as a buy, while 3 of the 21 advise that investors “hold,” and 0 rated it as a “Sell.”
Looking at the support for the BEKE, a number of firms have released research notes about the stock. HSBC Securities stated their Buy rating for the stock in a research note on June 23, 2022, with the firm’s price target at $13.70-$20.80. Citigroup coverage for the KE Holdings Inc. (BEKE) stock in a research note released on June 21, 2022 offered a Buy rating with a price target of $22.50. Morgan Stanley on their part issued Overweight rating on March 16, 2022.