abrdn plc Increases Stock Position in Kanzhun Limited (NASDAQ:BZ)

abrdn plc boosted its stake in Kanzhun Limited (NASDAQ:BZ) by 7.0% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 204,520 shares of the company’s stock after purchasing an additional 13,452 shares during the period. abrdn plc owned approximately 0.05% of Kanzhun worth $2,832,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of BZ. UMB Bank n.a. bought a new position in shares of Kanzhun in the 3rd quarter worth about $42,000. Van ECK Associates Corp acquired a new position in shares of Kanzhun during the 3rd quarter valued at $61,000. China Universal Asset Management Co. Ltd. bought a new position in shares of Kanzhun during the 4th quarter valued at about $63,000. Premier Fund Managers Ltd increased its holdings in shares of Kanzhun by 38.0% in the third quarter. Premier Fund Managers Ltd now owns 10,470 shares of the company’s stock valued at $180,000 after buying an additional 2,884 shares in the last quarter. Finally, DRW Securities LLC acquired a new stake in Kanzhun during the 3rd quarter worth about $203,000. 60.67% of the stock is owned by institutional investors and hedge funds.

Kanzhun Stock Up 4.4 %

Shares of BZ stock opened at $15.41 on Monday. The company has a market capitalization of $5.87 billion, a price-to-earnings ratio of 34.25 and a beta of 0.49. Kanzhun Limited has a 12-month low of $10.57 and a 12-month high of $22.74. The firm has a fifty day moving average of $14.16 and a 200-day moving average of $14.19.

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

Analysts Set New Price Targets

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

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.