abrdn plc Buys 50,598 Shares of Kanzhun Limited (NASDAQ:BZ)

abrdn plc grew its stake in shares of Kanzhun Limited (NASDAQ:BZ) by 36.0% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 191,068 shares of the company’s stock after purchasing an additional 50,598 shares during the period. abrdn plc owned approximately 0.05% of Kanzhun worth $3,344,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. Atlas Capital Advisors LLC bought a new stake in Kanzhun during the 2nd quarter valued at approximately $25,000. UMB Bank n.a. bought a new stake in shares of Kanzhun during the third quarter valued at approximately $42,000. Summit Securities Group LLC purchased a new stake in Kanzhun in the second quarter worth $44,000. Blue Trust Inc. raised its holdings in 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 purchasing an additional 1,347 shares in the last quarter. Finally, Sumitomo Mitsui DS Asset Management Company Ltd purchased a new position in Kanzhun during the second quarter valued at $204,000. Hedge funds and other institutional investors own 60.67% of the company’s stock.

Kanzhun Stock Up 0.8 %

NASDAQ:BZ opened at $14.66 on Monday. The stock has a market cap of $5.58 billion, a price-to-earnings ratio of 34.09 and a beta of 0.55. The company’s 50 day moving average price is $14.55 and its 200-day moving average price is $17.00. Kanzhun Limited has a 52 week low of $10.57 and a 52 week high of $22.74.

Kanzhun (NASDAQ:BZ) last issued its earnings results on Wednesday, August 28th. The company reported $0.13 EPS for the quarter, beating the consensus estimate of $0.12 by $0.01. Kanzhun had a return on equity of 10.19% and a net margin of 20.90%. The business had revenue of $263.75 million for the quarter, compared to the consensus estimate of $264.38 million. As a group, sell-side analysts anticipate that Kanzhun Limited will post 0.47 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on the stock. Barclays reduced their target price on shares of Kanzhun from $27.00 to $14.00 and set an “overweight” rating on the stock in a research report on Friday, August 30th. Daiwa America raised shares of Kanzhun to a “hold” rating in a research note on Thursday, July 25th. Finally, Daiwa Capital Markets cut Kanzhun from a “buy” rating to a “neutral” rating in a research report on Thursday, July 25th. Three investment analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat, Kanzhun has an average rating of “Moderate Buy” and an average price target of $23.40.

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.