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E Fund Management Hong Kong Co. Ltd. lessened its holdings in Kanzhun Limited (NASDAQ:BZ – Free Report) by 4.7% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 162,735 shares of the company’s stock after selling 8,089 shares during the quarter. Kanzhun makes up approximately 1.8% of E Fund Management Hong Kong Co. Ltd.’s investment portfolio, making the stock its 10th largest position. E Fund Management Hong Kong Co. Ltd.’s holdings in Kanzhun were worth $2,449,000 at the end of the most recent quarter.
Several other hedge funds have also added to or reduced their stakes in the business. PNC Financial Services Group Inc. lifted its stake in shares of Kanzhun by 67.1% in the fourth quarter. PNC Financial Services Group Inc. now owns 1,922 shares of the company’s stock worth $39,000 after acquiring an additional 772 shares during the period. 1832 Asset Management L.P. acquired a new position in shares of Kanzhun in the 4th quarter worth approximately $49,000. Shell Asset Management Co. bought a new stake in shares of Kanzhun in the 4th quarter valued at $149,000. Macquarie Group Ltd. increased its position in shares of Kanzhun by 132.6% during the third quarter. Macquarie Group Ltd. now owns 9,776 shares of the company’s stock worth $165,000 after buying an additional 5,573 shares during the period. Finally, National Pension Service raised its stake in Kanzhun by 423.1% during the second quarter. National Pension Service now owns 6,800 shares of the company’s stock worth $179,000 after buying an additional 5,500 shares during the last quarter. 54.64% of the stock is currently owned by institutional investors and hedge funds.
Kanzhun Trading Down 3.3 %
Shares of NASDAQ BZ traded down $0.50 during midday trading on Friday, hitting $14.76. The company’s stock had a trading volume of 1,020,187 shares, compared to its average volume of 2,876,181. The firm has a market capitalization of $5.54 billion, a price-to-earnings ratio of 254.33 and a beta of 0.41. The stock has a fifty day moving average price of $16.14 and a 200 day moving average price of $17.95. Kanzhun Limited has a one year low of $9.74 and a one year high of $26.33.
Kanzhun (NASDAQ:BZ – Get Free Report) last announced its quarterly earnings results on Wednesday, May 24th. The company reported $0.01 earnings per share for the quarter, meeting the consensus estimate of $0.01. Kanzhun had a return on equity of 1.39% and a net margin of 3.52%. The company had revenue of $186.03 million during the quarter, compared to analysts’ expectations of $183.86 million. On average, equities research analysts predict that Kanzhun Limited will post 0.22 earnings per share for the current fiscal year.
Wall Street Analysts Forecast Growth
Several analysts have recently weighed in on the stock. Macquarie initiated coverage on shares of Kanzhun in a research note on Tuesday, May 2nd. They issued an “outperform” rating and a $24.10 price objective for the company. Citigroup started coverage on shares of Kanzhun in a research note on Thursday, July 20th. They issued a “buy” rating and a $19.00 price target for the company. Barclays raised shares of Kanzhun from an “equal weight” rating to an “overweight” rating and set a $21.00 price objective on the stock in a research report on Thursday, May 25th. Finally, Daiwa Capital Markets began coverage on Kanzhun in a research report on Wednesday, July 12th. They issued a “buy” rating and a $19.00 target price for the company. Five investment analysts have rated the stock with a buy rating, According to data from MarketBeat, Kanzhun presently has a consensus rating of “Buy” and an average target price of $21.22.
Read Our Latest Research Report on BZ
Kanzhun Profile
(Free Report)
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.
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