Matthews International Capital Management LLC Increases Holdings in Kanzhun Limited (NASDAQ:BZ)

Matthews International Capital Management LLC grew its holdings in Kanzhun Limited (NASDAQ:BZ) by 84.3% in the 4th quarter, according to the company in its most recent filing with the SEC. The firm owned 848,290 shares of the company’s stock after buying an additional 388,080 shares during the quarter. Kanzhun makes up about 2.4% of Matthews International Capital Management LLC’s investment portfolio, making the stock its 13th largest holding. Matthews International Capital Management LLC owned approximately 0.22% of Kanzhun worth $11,706,000 as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in BZ. Crossmark Global Holdings Inc. boosted its position in Kanzhun by 5.8% during the 3rd quarter. Crossmark Global Holdings Inc. now owns 13,911 shares of the company’s stock valued at $241,000 after acquiring an additional 759 shares in the last quarter. UMB Bank n.a. bought a new stake in shares of Kanzhun during the third quarter valued at approximately $42,000. Premier Fund Managers Ltd raised its holdings in Kanzhun by 38.0% in the third quarter. Premier Fund Managers Ltd now owns 10,470 shares of the company’s stock worth $180,000 after purchasing an additional 2,884 shares in the last quarter. GSA Capital Partners LLP lifted its position in Kanzhun by 4.7% during the third quarter. GSA Capital Partners LLP now owns 64,978 shares of the company’s stock valued at $1,128,000 after buying an additional 2,919 shares during the period. Finally, Van ECK Associates Corp bought a new stake in shares of Kanzhun during the 3rd quarter valued at $61,000. 60.67% of the stock is currently owned by institutional investors.

Kanzhun Price Performance

Shares of NASDAQ:BZ opened at $14.89 on Tuesday. Kanzhun Limited has a 1 year low of $10.57 and a 1 year high of $22.74. The stock’s fifty day moving average price is $13.77 and its 200-day moving average price is $14.32. The company has a market cap of $5.67 billion, a P/E ratio of 33.09 and a beta of 0.49.

Kanzhun (NASDAQ:BZ) last announced its quarterly earnings results on Wednesday, December 11th. The company reported $0.15 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.13 by $0.02. Kanzhun had a net margin of 20.65% and a return on equity of 10.31%. On average, sell-side analysts anticipate that Kanzhun Limited will post 0.46 earnings per share for the current year.

Analysts Set New Price Targets

A number of brokerages recently issued reports on BZ. Barclays lifted their price target on shares of Kanzhun from $14.00 to $16.00 and gave the company an “overweight” rating in a research report on Monday, December 9th. Citigroup dropped their price target on Kanzhun from $17.00 to $16.00 and set a “buy” rating on the stock in a research report on Friday, November 29th. CLSA initiated coverage on Kanzhun in a research report on Monday, November 18th. They set an “outperform” rating and a $18.00 price objective for the company. Finally, Sanford C. Bernstein cut Kanzhun from an “outperform” rating to a “market perform” rating and cut their target price for the stock from $19.00 to $15.00 in a research note on Monday, December 9th. Four research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $21.00.

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.