Lord Abbett & CO. LLC Purchases New Stake in KE Holdings Inc. (NYSE:BEKE)

Lord Abbett & CO. LLC bought a new position in KE Holdings Inc. (NYSE:BEKE) during the 3rd quarter, Holdings Channel reports. The fund bought 1,454,354 shares of the company’s stock, valued at approximately $28,956,000.

A number of other hedge funds also recently bought and sold shares of BEKE. M&G PLC grew its position in shares of KE by 16.4% in the 3rd quarter. M&G PLC now owns 10,090,834 shares of the company’s stock worth $201,817,000 after buying an additional 1,422,667 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in KE by 203.1% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 6,478,102 shares of the company’s stock valued at $128,979,000 after acquiring an additional 4,340,517 shares in the last quarter. CoreView Capital Management Ltd increased its position in KE by 11.2% during the 3rd quarter. CoreView Capital Management Ltd now owns 5,112,701 shares of the company’s stock valued at $101,794,000 after purchasing an additional 515,197 shares during the period. Turiya Advisors Asia Ltd raised its holdings in KE by 56.2% in the 2nd quarter. Turiya Advisors Asia Ltd now owns 5,070,206 shares of the company’s stock worth $71,743,000 after purchasing an additional 1,824,206 shares in the last quarter. Finally, RWC Asset Advisors US LLC purchased a new stake in shares of KE in the 2nd quarter worth about $70,807,000. Hedge funds and other institutional investors own 39.34% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on the stock. Barclays boosted their price target on shares of KE from $30.00 to $33.00 and gave the company an “overweight” rating in a research report on Monday, November 25th. Bank of America upgraded KE from a “neutral” rating to a “buy” rating and upped their target price for the stock from $24.00 to $28.00 in a report on Wednesday, October 30th. Finally, Citigroup initiated coverage on KE in a research note on Tuesday, September 10th. They issued a “buy” rating and a $23.80 target price for the company.

KE Price Performance

Shares of NYSE BEKE opened at $19.42 on Monday. The stock has a market cap of $23.47 billion, a P/E ratio of 39.63, a price-to-earnings-growth ratio of 4.76 and a beta of -0.77. KE Holdings Inc. has a 1 year low of $12.44 and a 1 year high of $26.05. The firm has a 50-day moving average of $20.70 and a 200 day moving average of $17.30.

KE 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.