Kanzhun Limited (NASDAQ:BZ) Shares Acquired by RWC Asset Advisors US LLC

RWC Asset Advisors US LLC increased its position in Kanzhun Limited (NASDAQ:BZ) by 97.3% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 1,777,557 shares of the company’s stock after purchasing an additional 876,824 shares during the period. Kanzhun accounts for about 2.3% of RWC Asset Advisors US LLC’s holdings, making the stock its 11th biggest holding. RWC Asset Advisors US LLC owned 0.47% of Kanzhun worth $29,525,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. Russell Investments Group Ltd. raised its stake in shares of Kanzhun by 49.9% during the 4th quarter. Russell Investments Group Ltd. now owns 353,341 shares of the company’s stock worth $5,866,000 after buying an additional 117,663 shares in the last quarter. AlpInvest Partners B.V. raised its stake in shares of Kanzhun by 85.3% during the 4th quarter. AlpInvest Partners B.V. now owns 760,324 shares of the company’s stock worth $12,629,000 after buying an additional 349,910 shares in the last quarter. New York State Common Retirement Fund raised its stake in shares of Kanzhun by 191.2% during the 4th quarter. New York State Common Retirement Fund now owns 167,719 shares of the company’s stock worth $2,786,000 after buying an additional 110,122 shares in the last quarter. abrdn plc grew its holdings in shares of Kanzhun by 19.6% in the 4th quarter. abrdn plc now owns 58,056 shares of the company’s stock worth $964,000 after acquiring an additional 9,520 shares during the period. Finally, Daiwa Securities Group Inc. grew its holdings in shares of Kanzhun by 16.9% in the 4th quarter. Daiwa Securities Group Inc. now owns 23,973 shares of the company’s stock worth $398,000 after acquiring an additional 3,470 shares during the period. 60.67% of the stock is owned by hedge funds and other institutional investors.

Kanzhun Stock Performance

Shares of BZ traded up $0.49 during trading hours on Friday, hitting $20.09. The stock had a trading volume of 4,891,018 shares, compared to its average volume of 3,733,581. The firm has a market cap of $7.54 billion, a P/E ratio of 60.88 and a beta of 0.59. The company’s fifty day simple moving average is $17.89 and its 200 day simple moving average is $16.19. Kanzhun Limited has a 12-month low of $12.57 and a 12-month high of $21.32.

Kanzhun (NASDAQ:BZ) last issued its earnings results on Tuesday, March 12th. The company reported $0.10 earnings per share for the quarter, topping the consensus estimate of $0.09 by $0.01. The business had revenue of $222.57 million for the quarter, compared to analyst estimates of $215.66 million. Kanzhun had a return on equity of 8.44% and a net margin of 18.28%. As a group, sell-side analysts predict that Kanzhun Limited will post 0.42 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on the company. New Street Research upgraded Kanzhun from a “neutral” rating to a “buy” rating and upped their price target for the stock from $17.00 to $25.00 in a report on Wednesday, March 13th. TheStreet upgraded Kanzhun from a “d+” rating to a “c-” rating in a report on Wednesday, March 13th. Macquarie upgraded Kanzhun from a “neutral” rating to an “outperform” rating in a report on Tuesday, March 12th. Finally, Barclays increased their target price on Kanzhun from $22.00 to $27.00 and gave the company an “overweight” rating in a report on Wednesday, March 13th. One research analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat.com, Kanzhun has an average rating of “Moderate Buy” and an average target price of $20.38.

Kanzhun Company Profile

Kanzhun Limited engages in the provision of online recruitment solutions in the People's Republic of China. The company offers its recruitment solutions through a mobile app under the BOSS Zhipin brand name. Its recruitment platform assists the recruitment process between job seekers and employers for enterprises, and corporations.