ABS Direct Equity Fund LLC Purchases New Shares in Kanzhun Limited (NASDAQ:BZ)

ABS Direct Equity Fund LLC bought a new stake in Kanzhun Limited (NASDAQ:BZ) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 54,600 shares of the company’s stock, valued at approximately $907,000.

A number of other hedge funds have also bought and sold shares of BZ. Vanguard Group Inc. raised its position in Kanzhun by 1.7% in the third quarter. Vanguard Group Inc. now owns 12,615,432 shares of the company’s stock worth $191,376,000 after acquiring an additional 216,558 shares during the period. Wellington Management Group LLP lifted its stake in Kanzhun by 7.9% in the third quarter. Wellington Management Group LLP now owns 5,728,132 shares of the company’s stock valued at $86,896,000 after purchasing an additional 421,441 shares during the last quarter. Bamco Inc. NY grew its holdings in Kanzhun by 23.5% during the third quarter. Bamco Inc. NY now owns 3,050,770 shares of the company’s stock valued at $46,280,000 after purchasing an additional 581,094 shares during the period. Canada Pension Plan Investment Board increased its position in Kanzhun by 7.9% in the third quarter. Canada Pension Plan Investment Board now owns 3,047,912 shares of the company’s stock worth $46,237,000 after buying an additional 222,649 shares during the last quarter. Finally, E Fund Management Co. Ltd. raised its stake in shares of Kanzhun by 1.3% in the third quarter. E Fund Management Co. Ltd. now owns 2,367,641 shares of the company’s stock valued at $35,917,000 after buying an additional 30,771 shares during the period. 60.67% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of equities research analysts have issued reports on the stock. Barclays boosted their target price on shares of Kanzhun from $22.00 to $27.00 and gave the company an “overweight” rating in a report on Wednesday, March 13th. Macquarie raised Kanzhun from a “neutral” rating to an “outperform” rating in a report on Tuesday, March 12th. TheStreet upgraded Kanzhun from a “d+” rating to a “c-” rating in a research report on Wednesday, March 13th. Finally, New Street Research upgraded shares of Kanzhun from a “neutral” rating to a “buy” rating and raised their price objective for the company from $17.00 to $25.00 in a research report on Wednesday, March 13th. One equities research analyst has rated the stock with a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $20.38.

Kanzhun Trading Up 0.6 %

Kanzhun stock traded up $0.12 during trading hours on Friday, hitting $20.40. 4,281,707 shares of the stock traded hands, compared to its average volume of 4,040,246. The firm’s 50-day moving average price is $18.41 and its two-hundred day moving average price is $16.34. The company has a market cap of $7.66 billion, a PE ratio of 61.82 and a beta of 0.50. Kanzhun Limited has a one year low of $12.57 and a one year high of $21.32.

Kanzhun (NASDAQ:BZ) last released its earnings results on Tuesday, March 12th. The company reported $0.10 EPS for the quarter, topping analysts’ consensus estimates of $0.09 by $0.01. The firm had revenue of $222.57 million for the quarter, compared to analysts’ expectations of $215.66 million. Kanzhun had a return on equity of 8.44% and a net margin of 18.28%. On average, sell-side analysts expect that Kanzhun Limited will post 0.42 earnings per share for the current fiscal year.

About Kanzhun

Kanzhun Limited engages in the provision of online recruitment solutions in the People's Republic of China. The company offers its recruitment solutions through a mobile app under the BOSS Zhipin brand name. Its recruitment platform assists the recruitment process between job seekers and employers for enterprises, and corporations.