Alberta Investment Management Corp Cuts Stake in Kanzhun Limited (NASDAQ:BZ)

Alberta Investment Management Corp reduced its position in Kanzhun Limited (NASDAQ:BZ - Free Report) by 15.4% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 443,940 shares of the company's stock after selling 81,030 shares during the period. Alberta Investment Management Corp owned about 0.12% of Kanzhun worth $6,126,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of BZ. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in Kanzhun by 812.5% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 7,120,232 shares of the company's stock valued at $123,607,000 after purchasing an additional 6,339,911 shares in the last quarter. Assenagon Asset Management S.A. acquired a new stake in Kanzhun during the 3rd quarter valued at $64,220,000. National Bank of Canada FI acquired a new stake in Kanzhun during the 3rd quarter valued at $45,482,000. Nomura Asset Management Co. Ltd. grew its holdings in Kanzhun by 7,012.9% during the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 2,325,929 shares of the company's stock valued at $40,378,000 after buying an additional 2,293,229 shares during the last quarter. Finally, WCM Investment Management LLC grew its holdings in Kanzhun by 109.3% during the 3rd quarter. WCM Investment Management LLC now owns 3,157,794 shares of the company's stock valued at $54,251,000 after buying an additional 1,649,411 shares during the last quarter. 60.67% of the stock is owned by hedge funds and other institutional investors.

Kanzhun Stock Up 2.2 %

Shares of BZ stock traded up $0.35 during mid-day trading on Friday, hitting $15.99. 4,575,095 shares of the company's stock were exchanged, compared to its average volume of 3,454,877. Kanzhun Limited has a fifty-two week low of $10.57 and a fifty-two week high of $22.74. The stock has a 50-day simple moving average of $14.44 and a two-hundred day simple moving average of $14.32. The stock has a market cap of $6.09 billion, a price-to-earnings ratio of 35.55 and a beta of 0.49.

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 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%. As a group, analysts anticipate that Kanzhun Limited will post 0.46 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on BZ. CLSA began coverage on Kanzhun in a report on Monday, November 18th. They set an "outperform" rating and a $18.00 target price on the stock. Barclays increased their target price on Kanzhun from $14.00 to $16.00 and gave the company an "overweight" rating in a report on Monday, December 9th. Sanford C. Bernstein cut Kanzhun from an "outperform" rating to a "market perform" rating and lowered their target price for the company from $19.00 to $15.00 in a report on Monday, December 9th. Finally, Citigroup lowered their target price on Kanzhun from $17.00 to $16.00 and set a "buy" rating on the stock in a report on Friday, November 29th. Four investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus 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.