Rhumbline Advisers Raises Position in Kanzhun Limited (NASDAQ:BZ)

Rhumbline Advisers boosted its position in shares of Kanzhun Limited (NASDAQ:BZ) by 9.3% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 24,185 shares of the company’s stock after buying an additional 2,066 shares during the period. Rhumbline Advisers’ holdings in Kanzhun were worth $334,000 at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of the company. Van ECK Associates Corp purchased a new position in shares of Kanzhun in the third quarter worth about $61,000. China Universal Asset Management Co. Ltd. purchased a new position in Kanzhun in the 4th quarter worth approximately $63,000. Premier Fund Managers Ltd boosted its holdings in shares of Kanzhun by 38.0% during the 3rd 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 during the last quarter. DRW Securities LLC purchased a new stake in shares of Kanzhun in the third quarter valued at approximately $203,000. Finally, Hancock Whitney Corp purchased a new stake in shares of Kanzhun in the third quarter valued at approximately $228,000. 60.67% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

BZ has been the subject of a number of recent analyst reports. Citigroup cut their price target on shares of Kanzhun from $17.00 to $16.00 and set a “buy” rating for the company in a report on Friday, November 29th. 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. CLSA began coverage on Kanzhun in a research note on Monday, November 18th. They issued an “outperform” rating and a $18.00 price target on the stock. Finally, Barclays raised their price objective on Kanzhun from $14.00 to $16.00 and gave the stock an “overweight” rating in a research report on Monday, December 9th. Four analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $21.00.

Kanzhun Trading Up 3.0 %

BZ opened at $17.86 on Monday. The stock’s 50-day moving average price is $14.98 and its 200 day moving average price is $14.50. Kanzhun Limited has a 12-month low of $10.57 and a 12-month high of $22.74. The firm has a market cap of $6.80 billion, a price-to-earnings ratio of 39.69 and a beta of 0.46.

Kanzhun (NASDAQ:BZ) last issued its quarterly earnings results on Wednesday, December 11th. The company reported $0.15 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.13 by $0.02. Kanzhun had a net margin of 20.65% and a return on equity of 10.31%. On average, research analysts forecast that Kanzhun Limited will post 0.46 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.