Daiwa Securities Group Inc. Sells 4,719 Shares of Kanzhun Limited (NASDAQ:BZ)

Daiwa Securities Group Inc. lessened its stake in shares of Kanzhun Limited (NASDAQ:BZ) by 19.7% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 19,254 shares of the company’s stock after selling 4,719 shares during the period. Daiwa Securities Group Inc.’s holdings in Kanzhun were worth $338,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in the stock. Schwab Charitable Fund bought a new position in shares of Kanzhun in the 4th quarter valued at $182,000. DNB Asset Management AS bought a new position in shares of Kanzhun in the 4th quarter valued at $207,000. Quadrature Capital Ltd bought a new position in shares of Kanzhun in the 4th quarter valued at $348,000. Los Angeles Capital Management LLC bought a new position in shares of Kanzhun in the 1st quarter valued at $600,000. Finally, Qtron Investments LLC bought a new position in shares of Kanzhun in the 4th quarter valued at $692,000. Institutional investors own 60.67% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts recently weighed in on BZ shares. JPMorgan Chase & Co. raised their price objective on Kanzhun from $23.00 to $24.50 and gave the company an “overweight” rating in a report on Wednesday, May 22nd. UBS Group raised their price objective on Kanzhun from $22.00 to $23.50 and gave the company a “neutral” rating in a report on Wednesday, May 22nd. Finally, HSBC initiated coverage on Kanzhun in a report on Friday, May 24th. They set a “buy” rating and a $30.00 target price on the stock. One analyst has rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat.com, Kanzhun currently has a consensus rating of “Moderate Buy” and a consensus target price of $22.67.

Kanzhun Price Performance

Shares of BZ stock opened at $18.96 on Friday. The business’s 50 day simple moving average is $20.41 and its 200 day simple moving average is $17.94. Kanzhun Limited has a one year low of $12.57 and a one year high of $22.74. The stock has a market capitalization of $7.21 billion, a PE ratio of 48.62 and a beta of 0.49.

Kanzhun (NASDAQ:BZ) last posted its quarterly earnings results on Tuesday, May 21st. The company reported $0.07 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.04 by $0.03. The firm had revenue of $235.97 million for the quarter, compared to analysts’ expectations of $230.09 million. Kanzhun had a return on equity of 9.73% and a net margin of 20.55%. As a group, research analysts expect that Kanzhun Limited will post 0.52 earnings per share for the current year.

About Kanzhun

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.