Nan Fung Trinity HK Ltd. Buys Shares of 1,776,900 Kanzhun Limited (NASDAQ:BZ)

Nan Fung Trinity HK Ltd. bought a new position in shares of Kanzhun Limited (NASDAQ:BZ) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 1,776,900 shares of the company’s stock, valued at approximately $24,521,000. Kanzhun comprises 5.0% of Nan Fung Trinity HK Ltd.’s portfolio, making the stock its 6th largest holding. Nan Fung Trinity HK Ltd. owned about 0.47% of Kanzhun at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently modified their holdings of the business. Rhumbline Advisers increased its position in Kanzhun by 9.3% during the 4th quarter. Rhumbline Advisers now owns 24,185 shares of the company’s stock worth $334,000 after purchasing an additional 2,066 shares in the last quarter. Asset Management One Co. Ltd. boosted its stake in shares of Kanzhun by 10.5% during the 4th quarter. Asset Management One Co. Ltd. now owns 42,263 shares of the company’s stock worth $586,000 after purchasing an additional 4,000 shares during the last quarter. Allspring Global Investments Holdings LLC grew its holdings in shares of Kanzhun by 86.1% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 3,068,555 shares of the company’s stock worth $41,855,000 after buying an additional 1,419,579 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. raised its position in shares of Kanzhun by 112.4% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 200,710 shares of the company’s stock valued at $2,769,000 after buying an additional 106,226 shares during the last quarter. Finally, abrdn plc lifted its stake in shares of Kanzhun by 7.0% during the fourth quarter. abrdn plc now owns 204,520 shares of the company’s stock valued at $2,832,000 after buying an additional 13,452 shares during the period. Hedge funds and other institutional investors own 60.67% of the company’s stock.

Kanzhun Price Performance

Shares of BZ opened at $16.00 on Friday. Kanzhun Limited has a 12 month low of $10.57 and a 12 month high of $22.74. The stock has a market cap of $6.09 billion, a PE ratio of 35.56 and a beta of 0.49. The stock’s 50-day moving average is $14.47 and its two-hundred day moving average is $14.34.

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

Wall Street Analyst Weigh In

Several analysts have commented on the stock. CLSA began coverage on shares of Kanzhun in a research note on Monday, November 18th. They issued an “outperform” rating and a $18.00 target price for the company. Sanford C. Bernstein downgraded Kanzhun from an “outperform” rating to a “market perform” rating and lowered their price objective for the company from $19.00 to $15.00 in a research report on Monday, December 9th. Citigroup reduced 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. Finally, Barclays raised their price target on Kanzhun from $14.00 to $16.00 and gave the stock an “overweight” rating in a research note on Monday, December 9th. Four investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $21.00.

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.