Oppenheimer Asset Management Inc. Buys New Position in Kanzhun Limited (NASDAQ:BZ)

Oppenheimer Asset Management Inc. acquired a new stake in Kanzhun Limited (NASDAQ:BZ) during the third quarter, according to its most recent Form 13F filing with the SEC. The fund acquired 14,821 shares of the company’s stock, valued at approximately $257,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Sumitomo Mitsui Trust Group Inc. boosted its holdings in Kanzhun by 2.7% in the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 600,510 shares of the company’s stock worth $10,425,000 after acquiring an additional 16,000 shares in the last quarter. GSA Capital Partners LLP grew its stake in shares of Kanzhun by 4.7% in the 3rd quarter. GSA Capital Partners LLP now owns 64,978 shares of the company’s stock worth $1,128,000 after acquiring an additional 2,919 shares in the last quarter. WCM Investment Management LLC grew its holdings in shares of Kanzhun by 109.3% in the third quarter. WCM Investment Management LLC now owns 3,157,794 shares of the company’s stock valued at $54,251,000 after acquiring an additional 1,649,411 shares in the last quarter. State of New Jersey Common Pension Fund D boosted its holdings in shares of Kanzhun by 6.1% in the 3rd quarter. State of New Jersey Common Pension Fund D now owns 209,950 shares of the company’s stock worth $3,645,000 after buying an additional 11,978 shares during the last quarter. Finally, Crossmark Global Holdings Inc. grew its position in shares of 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 during the period. 60.67% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of research analysts recently weighed in on the stock. Daiwa America upgraded shares of Kanzhun to a “hold” rating in a research note on Thursday, July 25th. Barclays decreased their price target on shares of Kanzhun from $27.00 to $14.00 and set an “overweight” rating on the stock in a report on Friday, August 30th. CLSA assumed coverage on shares of Kanzhun in a research note on Monday. They issued an “outperform” rating and a $18.00 target price on the stock. Finally, Daiwa Capital Markets downgraded Kanzhun from a “buy” rating to a “neutral” rating in a research report on Thursday, July 25th. Three research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $22.50.

Kanzhun Price Performance

Shares of NASDAQ BZ opened at $13.44 on Thursday. Kanzhun Limited has a 1 year low of $10.57 and a 1 year high of $22.74. The company’s 50-day moving average is $14.98 and its 200 day moving average is $16.57. The stock has a market capitalization of $5.10 billion, a P/E ratio of 31.60 and a beta of 0.55.

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

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.