Vontobel Holding Ltd. Lowers Stock Holdings in Kanzhun Limited (NASDAQ:BZ)

Vontobel Holding Ltd. lessened its holdings in shares of Kanzhun Limited (NASDAQ:BZ) by 7.2% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 14,970 shares of the company’s stock after selling 1,154 shares during the quarter. Vontobel Holding Ltd.’s holdings in Kanzhun were worth $260,000 at the end of the most recent quarter.

Several other hedge funds have also made changes to their positions in the business. UMB Bank n.a. purchased a new position in Kanzhun during the third quarter worth about $42,000. SIH Partners LLLP purchased a new position in shares of Kanzhun during the 2nd quarter worth about $282,000. The Manufacturers Life Insurance Company boosted its position in shares of Kanzhun by 127.6% in the second quarter. The Manufacturers Life Insurance Company now owns 2,579,427 shares of the company’s stock worth $48,519,000 after acquiring an additional 1,446,033 shares during the last quarter. MBB Public Markets I LLC purchased a new stake in Kanzhun in the second quarter valued at approximately $308,000. Finally, AQR Capital Management LLC acquired a new position in Kanzhun during the second quarter worth approximately $28,705,000. Institutional investors and hedge funds own 60.67% of the company’s stock.

Kanzhun Price Performance

Shares of NASDAQ BZ opened at $14.76 on Thursday. The company has a market capitalization of $5.62 billion, a price-to-earnings ratio of 37.85 and a beta of 0.52. Kanzhun Limited has a 1-year low of $10.57 and a 1-year high of $22.74. The business has a 50-day moving average of $14.48 and a 200-day moving average of $17.21.

Kanzhun (NASDAQ:BZ) last issued its quarterly earnings data on Wednesday, August 28th. The company reported $0.13 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.12 by $0.01. Kanzhun had a net margin of 20.90% and a return on equity of 10.19%. The company had revenue of $263.75 million during the quarter, compared to the consensus estimate of $264.38 million. Research analysts expect that Kanzhun Limited will post 0.47 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on BZ. Daiwa America raised shares of Kanzhun to a “hold” rating in a research note on Thursday, July 25th. Barclays lowered their price target on Kanzhun from $27.00 to $14.00 and set an “overweight” rating for the company in a research report on Friday, August 30th. Finally, Daiwa Capital Markets downgraded Kanzhun from a “buy” rating to a “neutral” rating in a report on Thursday, July 25th. Three equities research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat, Kanzhun currently has a consensus rating of “Moderate Buy” and a consensus target price of $23.40.

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.