KE (NYSE:BEKE) Shares Gap Up – Here’s What Happened

KE Holdings Inc. (NYSE:BEKE)’s stock price gapped up prior to trading on Thursday . The stock had previously closed at $19.36, but opened at $20.01. KE shares last traded at $19.59, with a volume of 1,853,642 shares.

Analysts Set New Price Targets

Several brokerages have recently commented on BEKE. Morgan Stanley increased their price objective on KE from $19.00 to $27.00 and gave the company an “overweight” rating in a research report on Wednesday, March 19th. Jefferies Financial Group restated a “buy” rating on shares of KE in a report on Tuesday, March 18th. Finally, UBS Group lowered shares of KE from a “buy” rating to a “neutral” rating and raised their price objective for the company from $22.70 to $24.50 in a research note on Thursday, March 20th. One equities research analyst has rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat.com, KE presently has a consensus rating of “Moderate Buy” and an average price target of $27.26.

KE Price Performance

The business has a 50-day moving average of $20.92 and a two-hundred day moving average of $20.03. The company has a market cap of $23.57 billion, a P/E ratio of 39.80, a P/E/G ratio of 3.45 and a beta of -0.73.

KE Increases Dividend

The firm also recently announced a — dividend, which will be paid on Friday, April 25th. Shareholders of record on Wednesday, April 9th will be issued a dividend of $0.36 per share. The ex-dividend date of this dividend is Wednesday, April 9th. This is a positive change from KE’s previous — dividend of $0.17. This represents a yield of 1.4%. KE’s dividend payout ratio is 64.58%.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of BEKE. TT International Asset Management LTD purchased a new stake in KE during the fourth quarter worth about $717,000. Headwater Capital Co Ltd acquired a new stake in shares of KE in the fourth quarter worth $11,052,000. ABS Direct Equity Fund LLC boosted its holdings in KE by 284.5% in the 4th quarter. ABS Direct Equity Fund LLC now owns 84,200 shares of the company’s stock worth $1,551,000 after acquiring an additional 62,300 shares during the period. China Universal Asset Management Co. Ltd. grew its stake in shares of KE by 55.0% during the fourth quarter. China Universal Asset Management Co. Ltd. now owns 169,000 shares of the company’s stock valued at $3,113,000 after acquiring an additional 60,000 shares in the last quarter. Finally, Virtu Financial LLC bought a new stake in shares of KE in the 3rd quarter valued at approximately $1,033,000. 39.34% of the stock is owned by hedge funds and other institutional investors.

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.