Public Employees Retirement System of Ohio Makes New $4.61 Million Investment in KE Holdings Inc. (NYSE:BEKE)

Public Employees Retirement System of Ohio purchased a new position in shares of KE Holdings Inc. (NYSE:BEKE) in the third quarter, HoldingsChannel reports. The fund purchased 231,609 shares of the company’s stock, valued at approximately $4,611,000.

A number of other institutional investors have also modified their holdings of BEKE. Assenagon Asset Management S.A. purchased a new stake in shares of KE in the second quarter valued at $2,652,000. Blue Trust Inc. grew its holdings in KE by 2,662.2% in the 2nd quarter. Blue Trust Inc. now owns 3,287 shares of the company’s stock valued at $45,000 after buying an additional 3,168 shares during the period. Ninety One North America Inc. increased its stake in shares of KE by 25.5% during the 2nd quarter. Ninety One North America Inc. now owns 1,689,193 shares of the company’s stock valued at $23,902,000 after acquiring an additional 343,668 shares during the last quarter. Ninety One UK Ltd increased its stake in shares of KE by 25.1% during the 2nd quarter. Ninety One UK Ltd now owns 3,713,270 shares of the company’s stock valued at $52,543,000 after acquiring an additional 745,607 shares during the last quarter. Finally, Bank of New York Mellon Corp lifted its holdings in shares of KE by 7.5% during the 2nd quarter. Bank of New York Mellon Corp now owns 1,044,077 shares of the company’s stock worth $14,774,000 after acquiring an additional 72,755 shares during the period. Institutional investors and hedge funds own 39.34% of the company’s stock.

Analysts Set New Price Targets

BEKE has been the subject of a number of recent analyst reports. Bank of America upgraded shares of KE from a “neutral” rating to a “buy” rating and boosted their target price for the company from $24.00 to $28.00 in a report on Wednesday, October 30th. Barclays boosted their price objective on shares of KE from $30.00 to $33.00 and gave the company an “overweight” rating in a research note on Monday, November 25th. Finally, Citigroup began coverage on KE in a research report on Tuesday, September 10th. They issued a “buy” rating and a $23.80 target price on the stock.

KE Stock Performance

BEKE opened at $19.42 on Friday. 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 price of $20.70 and a 200 day moving average price of $17.30. The company has a market cap of $23.47 billion, a PE ratio of 39.63, a price-to-earnings-growth ratio of 4.76 and a beta of -0.77.

KE Company 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.