Van ECK Associates Corp Cuts Stake in Kanzhun Limited (NASDAQ:BZ)

Van ECK Associates Corp cut its holdings in shares of Kanzhun Limited (NASDAQ:BZ) by 25.7% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 2,607 shares of the company’s stock after selling 903 shares during the quarter. Van ECK Associates Corp’s holdings in Kanzhun were worth $36,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also added to or reduced their stakes in the business. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in shares of Kanzhun by 812.5% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 7,120,232 shares of the company’s stock valued at $123,607,000 after buying an additional 6,339,911 shares during the period. National Bank of Canada FI purchased a new stake in Kanzhun in the third quarter worth approximately $45,482,000. Nomura Asset Management Co. Ltd. boosted its stake in shares of Kanzhun by 7,012.9% during the third quarter. Nomura Asset Management Co. Ltd. now owns 2,325,929 shares of the company’s stock valued at $40,378,000 after purchasing an additional 2,293,229 shares during the period. WCM Investment Management LLC boosted its stake in shares of Kanzhun by 109.3% during the third quarter. WCM Investment Management LLC now owns 3,157,794 shares of the company’s stock valued at $54,251,000 after purchasing an additional 1,649,411 shares during the period. Finally, Jennison Associates LLC boosted its stake in shares of Kanzhun by 79.7% during the fourth quarter. Jennison Associates LLC now owns 3,329,853 shares of the company’s stock valued at $45,952,000 after purchasing an additional 1,476,693 shares during the period. 60.67% of the stock is owned by hedge funds and other institutional investors.

Kanzhun Price Performance

NASDAQ:BZ opened at $16.00 on Tuesday. The company has a market cap of $6.09 billion, a price-to-earnings ratio of 35.56 and a beta of 0.49. The stock’s 50 day simple moving average is $14.51 and its two-hundred day simple moving average is $14.36. Kanzhun Limited has a 1 year low of $10.57 and a 1 year high of $22.74.

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

Analyst Upgrades and Downgrades

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

Kanzhun Company 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.