KBC Group NV Trims Position in Kanzhun Limited (NASDAQ:BZ)

KBC Group NV decreased its holdings in Kanzhun Limited (NASDAQ:BZ) by 25.9% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 47,575 shares of the company’s stock after selling 16,633 shares during the quarter. KBC Group NV’s holdings in Kanzhun were worth $657,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also added to or reduced their stakes in the company. Union Bancaire Privee UBP SA purchased a new position in shares of Kanzhun in the 4th quarter valued at approximately $333,000. Assenagon Asset Management S.A. lifted its position in Kanzhun by 2.1% during the fourth quarter. Assenagon Asset Management S.A. now owns 3,777,991 shares of the company’s stock valued at $52,136,000 after buying an additional 78,697 shares during the period. Nordea Investment Management AB boosted its holdings in shares of Kanzhun by 13.8% during the 4th quarter. Nordea Investment Management AB now owns 282,510 shares of the company’s stock valued at $3,928,000 after buying an additional 34,284 shares in the last quarter. Franklin Resources Inc. grew its position in shares of Kanzhun by 12.8% in the 3rd quarter. Franklin Resources Inc. now owns 136,728 shares of the company’s stock worth $2,201,000 after buying an additional 15,497 shares during the period. Finally, Tidal Investments LLC bought a new position in shares of Kanzhun in the 3rd quarter worth about $662,000. 60.67% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

BZ has been the subject of a number of recent research reports. CLSA initiated coverage on Kanzhun in a research note on Monday, November 18th. They set an “outperform” rating and a $18.00 price objective for the company. Sanford C. Bernstein cut shares of Kanzhun from an “outperform” rating to a “market perform” rating and dropped their price target for the stock from $19.00 to $15.00 in a research note on Monday, December 9th. Barclays raised their price objective on shares of Kanzhun from $14.00 to $16.00 and gave the company an “overweight” rating in a research note on Monday, December 9th. Finally, Citigroup dropped their target price on shares of Kanzhun from $17.00 to $16.00 and set a “buy” rating on the stock in a research note on Friday, November 29th. Four research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $21.00.

Kanzhun Stock Down 6.2 %

BZ opened at $14.41 on Monday. The company has a market capitalization of $5.49 billion, a PE ratio of 32.02 and a beta of 0.49. The firm has a 50-day simple moving average of $13.94 and a two-hundred day simple moving average of $14.21. Kanzhun Limited has a 52 week low of $10.57 and a 52 week high of $22.74.

Kanzhun (NASDAQ:BZ) last posted its earnings results on Wednesday, December 11th. The company reported $0.15 EPS for the quarter, beating 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%. As a group, sell-side analysts expect that Kanzhun Limited will post 0.46 earnings per share for the current year.

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.