KE (NYSE:BEKE) Shares Gap Up – Time to Buy?

KE Holdings Inc. (NYSE:BEKE)’s stock price 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 changing hands.

Analysts Set New Price Targets

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

KE Trading Down 2.8 %

The company has a fifty day simple moving average of $20.39 and a 200-day simple moving average of $19.67. The company has a market capitalization 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 firm also recently announced a — dividend, which will be paid on Friday, April 25th. Shareholders of record on Wednesday, April 9th will be paid a dividend of $0.36 per share. This is a boost from KE’s previous — dividend of $0.17. The ex-dividend date of this dividend is Wednesday, April 9th. This represents a yield of 1.4%. KE’s dividend payout ratio (DPR) is 64.58%.

Hedge Funds Weigh In On KE

A number of hedge funds have recently made changes to their positions in BEKE. TT International Asset Management LTD purchased a new position in KE in the fourth quarter valued at $717,000. XTX Topco Ltd boosted its stake in shares of KE by 324.8% in the 3rd quarter. XTX Topco Ltd now owns 117,780 shares of the company’s stock valued at $2,345,000 after buying an additional 90,054 shares during the period. Headwater Capital Co Ltd acquired a new position in shares of KE during the fourth quarter worth about $11,052,000. Y Intercept Hong Kong Ltd purchased a new stake in shares of KE during the third quarter worth approximately $13,540,000. Finally, ABS Direct Equity Fund LLC raised its holdings in KE by 284.5% in the fourth quarter. ABS Direct Equity Fund LLC now owns 84,200 shares of the company’s stock valued at $1,551,000 after acquiring an additional 62,300 shares in the last quarter. Hedge funds and other 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.