Premier Fund Managers Ltd Boosts Holdings in Kanzhun Limited (NASDAQ:BZ)

Premier Fund Managers Ltd lifted its stake in Kanzhun Limited (NASDAQ:BZ) by 38.0% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 10,470 shares of the company’s stock after buying an additional 2,884 shares during the period. Premier Fund Managers Ltd’s holdings in Kanzhun were worth $180,000 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of the stock. Assenagon Asset Management S.A. acquired a new stake in Kanzhun during the 3rd quarter worth $64,220,000. RWC Asset Advisors US LLC lifted its stake in shares of Kanzhun by 79.8% in the 2nd quarter. RWC Asset Advisors US LLC now owns 5,700,186 shares of the company’s stock worth $107,220,000 after acquiring an additional 2,529,725 shares during the period. WCM Investment Management LLC lifted its stake in shares of Kanzhun by 109.3% in the 3rd quarter. WCM Investment Management LLC now owns 3,157,794 shares of the company’s stock worth $54,251,000 after acquiring an additional 1,649,411 shares during the period. Allspring Global Investments Holdings LLC lifted its stake in shares of Kanzhun by 3,918.5% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 1,648,976 shares of the company’s stock worth $28,626,000 after acquiring an additional 1,607,941 shares during the period. Finally, AQR Capital Management LLC acquired a new stake in shares of Kanzhun in the 2nd quarter worth $28,705,000. 60.67% of the stock is owned by hedge funds and other institutional investors.

Kanzhun Price Performance

Shares of NASDAQ BZ opened at $13.44 on Thursday. The company has a 50-day simple moving average of $14.98 and a 200-day simple moving average of $16.57. Kanzhun Limited has a 12 month low of $10.57 and a 12 month high of $22.74. The company has a market cap of $5.10 billion, a PE ratio of 31.26 and a beta of 0.55.

Kanzhun (NASDAQ:BZ) last posted its earnings results on Wednesday, August 28th. The company reported $0.13 EPS for the quarter, topping analysts’ consensus estimates of $0.12 by $0.01. Kanzhun had a net margin of 20.90% and a return on equity of 10.19%. The business had revenue of $263.75 million for the quarter, compared to analysts’ expectations of $264.38 million. On average, analysts anticipate that Kanzhun Limited will post 0.47 EPS for the current year.

Wall Street Analysts Forecast Growth

BZ has been the subject of several recent analyst reports. Daiwa Capital Markets cut shares of Kanzhun from a “buy” rating to a “neutral” rating in a research note on Thursday, July 25th. Barclays dropped their target price on shares of Kanzhun from $27.00 to $14.00 and set an “overweight” rating for the company in a report on Friday, August 30th. CLSA assumed coverage on shares of Kanzhun in a report on Monday. They set an “outperform” rating and a $18.00 target price for the company. Finally, Daiwa America upgraded shares of Kanzhun to a “hold” rating in a report on Thursday, July 25th. Three research analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $22.50.

Kanzhun Profile

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.