KE (NYSE:BEKE) Shares Gap Up – What’s Next?

Shares of KE Holdings Inc. (NYSE:BEKE) gapped up prior to trading on Thursday . The stock had previously closed at $20.69, but opened at $21.42. KE shares last traded at $21.35, with a volume of 2,850,031 shares traded.

Wall Street Analysts Forecast Growth

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

KE Stock Performance

The stock has a fifty day moving average of $20.39 and a 200-day moving average of $19.67. The company has a market cap of $24.88 billion, a PE ratio of 42.03, a PEG ratio of 3.45 and a beta of -0.82.

KE Increases Dividend

The business also recently disclosed a — dividend, which will be paid on Friday, April 25th. Shareholders of record on Wednesday, April 9th will be given a $0.36 dividend. This represents a yield of 1.4%. This is a boost from KE’s previous — dividend of $0.17. The ex-dividend date is Wednesday, April 9th. KE’s payout ratio is 64.58%.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of BEKE. QRG Capital Management Inc. lifted its holdings in KE by 5.1% during the fourth quarter. QRG Capital Management Inc. now owns 14,395 shares of the company’s stock worth $265,000 after buying an additional 703 shares during the period. PNC Financial Services Group Inc. grew its position in KE by 8.8% during the 4th quarter. PNC Financial Services Group Inc. now owns 9,379 shares of the company’s stock worth $173,000 after purchasing an additional 762 shares during the last quarter. Rakuten Securities Inc. raised its holdings in shares of KE by 42.3% in the fourth quarter. Rakuten Securities Inc. now owns 4,762 shares of the company’s stock worth $88,000 after buying an additional 1,416 shares during the last quarter. Point72 Asia Singapore Pte. Ltd. acquired a new stake in shares of KE during the third quarter worth $30,000. Finally, SBI Securities Co. Ltd. acquired a new position in shares of KE in the 4th quarter valued at $30,000. Institutional investors own 39.34% of the company’s stock.

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.