Krane Funds Advisors LLC Lowers Holdings in Kanzhun Limited (NASDAQ:BZ)

Krane Funds Advisors LLC cut its holdings in Kanzhun Limited (NASDAQ:BZ) by 98.4% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 189,991 shares of the company’s stock after selling 11,370,301 shares during the period. Kanzhun accounts for 2.8% of Krane Funds Advisors LLC’s investment portfolio, making the stock its 8th biggest position. Krane Funds Advisors LLC’s holdings in Kanzhun were worth $3,298,000 as of its most recent SEC filing.

A number of other hedge funds have also bought and sold shares of the business. Atlas Capital Advisors LLC purchased a new position in Kanzhun during the second quarter valued at approximately $25,000. UMB Bank n.a. purchased a new position in shares of Kanzhun during the 3rd quarter valued at $42,000. Summit Securities Group LLC bought a new position in shares of Kanzhun in the second quarter worth $44,000. Blue Trust Inc. raised its position in shares of Kanzhun by 21.4% in the second quarter. Blue Trust Inc. now owns 7,638 shares of the company’s stock worth $134,000 after buying an additional 1,347 shares in the last quarter. Finally, Sumitomo Mitsui DS Asset Management Company Ltd purchased a new stake in shares of Kanzhun in the second quarter worth $204,000. 60.67% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

BZ has been the topic of a number of research analyst reports. Barclays decreased their target price on Kanzhun from $27.00 to $14.00 and set an “overweight” rating on the stock in a research note on Friday, August 30th. Daiwa America upgraded shares of Kanzhun to a “hold” rating in a research report on Thursday, July 25th. Finally, Daiwa Capital Markets cut shares of Kanzhun from a “buy” rating to a “neutral” rating in a research note on Thursday, July 25th. Three investment analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $23.40.

Kanzhun Stock Performance

Shares of BZ opened at $14.89 on Friday. Kanzhun Limited has a fifty-two week low of $10.57 and a fifty-two week high of $22.74. The firm has a 50 day moving average price of $14.40 and a 200-day moving average price of $17.33. The firm has a market cap of $5.67 billion, a price-to-earnings ratio of 38.18 and a beta of 0.52.

Kanzhun (NASDAQ:BZ) last announced its quarterly earnings data on Wednesday, August 28th. The company reported $0.13 earnings per share (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 return on equity of 10.19% and a net margin of 20.90%. As a group, equities research analysts predict that Kanzhun Limited will post 0.47 earnings per share for the current year.

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.