Bamco Inc. NY Lowers Position in Kanzhun Limited (NASDAQ:BZ)

Bamco Inc. NY cut its stake in Kanzhun Limited (NASDAQ:BZ) by 35.1% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 1,832,636 shares of the company’s stock after selling 989,509 shares during the period. Bamco Inc. NY owned 0.49% of Kanzhun worth $32,126,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of BZ. Norges Bank purchased a new position in shares of Kanzhun during the fourth quarter valued at approximately $98,023,000. Goldman Sachs Group Inc. lifted its holdings in shares of Kanzhun by 21.4% during the fourth quarter. Goldman Sachs Group Inc. now owns 4,978,186 shares of the company’s stock valued at $82,688,000 after purchasing an additional 877,342 shares during the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. lifted its holdings in shares of Kanzhun by 31.2% during the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 150,279 shares of the company’s stock valued at $2,634,000 after purchasing an additional 35,700 shares during the last quarter. Vanguard Group Inc. lifted its holdings in shares of Kanzhun by 1.7% during the third quarter. Vanguard Group Inc. now owns 12,615,432 shares of the company’s stock valued at $191,376,000 after purchasing an additional 216,558 shares during the last quarter. Finally, Russell Investments Group Ltd. lifted its holdings in shares of Kanzhun by 49.9% during the fourth quarter. Russell Investments Group Ltd. now owns 353,341 shares of the company’s stock valued at $5,866,000 after purchasing an additional 117,663 shares during the last quarter. 60.67% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on BZ. HSBC assumed coverage on shares of Kanzhun in a report on Friday, May 24th. They set a “buy” rating and a $30.00 target price for the company. Daiwa Capital Markets downgraded shares of Kanzhun from a “buy” rating to a “neutral” rating in a research report on Thursday. Daiwa America raised shares of Kanzhun to a “hold” rating in a research report on Thursday. UBS Group raised their price target on shares of Kanzhun from $22.00 to $23.50 and gave the company a “neutral” rating in a research report on Wednesday, May 22nd. Finally, JPMorgan Chase & Co. raised their price target on shares of Kanzhun from $23.00 to $24.50 and gave the company an “overweight” rating in a research report on Wednesday, May 22nd. Three analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $23.71.

Kanzhun Trading Down 0.1 %

NASDAQ:BZ traded down $0.02 during trading hours on Friday, reaching $13.71. The company had a trading volume of 3,426,890 shares, compared to its average volume of 3,869,795. Kanzhun Limited has a 52 week low of $12.57 and a 52 week high of $22.74. The firm has a market cap of $5.22 billion, a price-to-earnings ratio of 35.15 and a beta of 0.49. The firm’s 50 day moving average price is $19.33 and its 200-day moving average price is $18.00.

Kanzhun (NASDAQ:BZ) last posted its earnings results on Tuesday, May 21st. The company reported $0.07 EPS for the quarter, topping analysts’ consensus estimates of $0.04 by $0.03. The business had revenue of $235.97 million during the quarter, compared to the consensus estimate of $230.09 million. Kanzhun had a net margin of 20.55% and a return on equity of 9.73%. On average, analysts forecast that Kanzhun Limited will post 0.5 earnings per share for the current fiscal year.

About Kanzhun

Kanzhun Limited, together with its subsidiaries, provides online recruitment services in the People's Republic of China. The company offers its recruitment services through a mobile app under the BOSS Zhipin brand name. Its services allow enterprise customers to access and interact with job seekers and manage their recruitment process.