ABS Direct Equity Fund LLC Lowers Stock Holdings in Kanzhun Limited (NASDAQ:BZ)

ABS Direct Equity Fund LLC reduced its position in Kanzhun Limited (NASDAQ:BZ - Free Report) by 37.3% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 65,272 shares of the company's stock after selling 38,900 shares during the period. ABS Direct Equity Fund LLC's holdings in Kanzhun were worth $901,000 at the end of the most recent quarter.

Several other hedge funds have also bought and sold shares of the business. Public Sector Pension Investment Board increased its holdings in Kanzhun by 20.0% during the 2nd quarter. Public Sector Pension Investment Board now owns 89,306 shares of the company's stock worth $1,680,000 after purchasing an additional 14,900 shares in the last quarter. AQR Capital Management LLC bought a new stake in Kanzhun during the second quarter worth $28,705,000. MBB Public Markets I LLC purchased a new stake in Kanzhun in the 2nd quarter valued at $308,000. The Manufacturers Life Insurance Company lifted its stake in Kanzhun by 127.6% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 2,579,427 shares of the company's stock valued at $48,519,000 after acquiring an additional 1,446,033 shares in the last quarter. Finally, UMB Bank n.a. purchased a new position in Kanzhun during the 3rd quarter worth $42,000. Institutional investors and hedge funds own 60.67% of the company's stock.

Kanzhun Stock Performance

Shares of NASDAQ:BZ traded down $0.98 during trading on Friday, reaching $14.39. 1,229,829 shares of the stock traded hands, compared to its average volume of 2,847,306. Kanzhun Limited has a 52-week low of $10.57 and a 52-week high of $22.74. The stock has a market cap of $5.48 billion, a P/E ratio of 31.97 and a beta of 0.49. The stock has a 50-day moving average of $13.85 and a two-hundred day moving average of $14.27.

Kanzhun (NASDAQ:BZ - Get Free Report) last issued its earnings results on Wednesday, December 11th. The company reported $0.15 earnings per share for the quarter, topping 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%. Sell-side analysts expect that Kanzhun Limited will post 0.46 earnings per share for the current year.

Analyst Ratings Changes

BZ has been the subject of a number of research reports. Citigroup reduced their target price on shares of Kanzhun from $17.00 to $16.00 and set a "buy" rating for the company in a research report on Friday, November 29th. CLSA initiated coverage on shares of Kanzhun in a research report on Monday, November 18th. They set an "outperform" rating and a $18.00 target price for the company. Barclays boosted their price target on shares of Kanzhun from $14.00 to $16.00 and gave the company an "overweight" rating in a research report on Monday, December 9th. Finally, Sanford C. Bernstein downgraded shares of Kanzhun from an "outperform" rating to a "market perform" rating and cut their price objective for the stock from $19.00 to $15.00 in a report on Monday, December 9th. Four investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $21.00.

Kanzhun Company 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.