Mackenzie Financial Corp Invests $14.58 Million in Kanzhun Limited (NASDAQ:BZ)

Mackenzie Financial Corp bought a new position in shares of Kanzhun Limited (NASDAQ:BZ) during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 877,737 shares of the company’s stock, valued at approximately $14,579,000. Mackenzie Financial Corp owned approximately 0.23% of Kanzhun as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in BZ. PNC Financial Services Group Inc. grew its holdings in shares of Kanzhun by 67.1% during the 4th quarter. PNC Financial Services Group Inc. now owns 1,922 shares of the company’s stock worth $39,000 after purchasing an additional 772 shares in the last quarter. 1832 Asset Management L.P. bought a new stake in Kanzhun in the 4th quarter valued at $49,000. Virginia Retirement Systems ET AL acquired a new position in shares of Kanzhun in the 2nd quarter valued at $157,000. Macquarie Group Ltd. lifted its holdings in shares of Kanzhun by 132.6% during the 3rd quarter. Macquarie Group Ltd. now owns 9,776 shares of the company’s stock worth $165,000 after acquiring an additional 5,573 shares during the period. Finally, National Pension Service boosted its position in shares of Kanzhun by 423.1% during the 2nd quarter. National Pension Service now owns 6,800 shares of the company’s stock valued at $179,000 after acquiring an additional 5,500 shares in the last quarter. 60.67% of the stock is currently owned by institutional investors.

Kanzhun Trading Down 1.5 %

Shares of NASDAQ BZ opened at $17.84 on Friday. Kanzhun Limited has a 1-year low of $12.57 and a 1-year high of $21.32. The company has a 50-day moving average of $17.31 and a two-hundred day moving average of $16.04. The company has a market cap of $6.70 billion, a PE ratio of 54.06 and a beta of 0.59.

Kanzhun (NASDAQ:BZ) last posted its quarterly earnings data on Tuesday, March 12th. The company reported $0.10 earnings per share for the quarter, topping the consensus estimate of $0.09 by $0.01. The firm had revenue of $222.57 million during the quarter, compared to analysts’ expectations of $215.66 million. Kanzhun had a net margin of 18.28% and a return on equity of 8.44%. As a group, equities research analysts forecast that Kanzhun Limited will post 0.42 earnings per share for the current year.

Analyst Ratings Changes

A number of brokerages have recently issued reports on BZ. Macquarie raised Kanzhun from a “neutral” rating to an “outperform” rating in a report on Tuesday, March 12th. TheStreet upgraded shares of Kanzhun from a “d+” rating to a “c-” rating in a research note on Wednesday, March 13th. Barclays increased their target price on shares of Kanzhun from $22.00 to $27.00 and gave the stock an “overweight” rating in a research report on Wednesday, March 13th. Finally, New Street Research upgraded shares of Kanzhun from a “neutral” rating to a “buy” rating and boosted their price target for the company from $17.00 to $25.00 in a research report on Wednesday, March 13th. One investment analyst has rated the stock with a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $20.38.

Kanzhun Company Profile

Kanzhun Limited engages in the provision of online recruitment solutions in the People's Republic of China. The company offers its recruitment solutions through a mobile app under the BOSS Zhipin brand name. Its recruitment platform assists the recruitment process between job seekers and employers for enterprises, and corporations.