Federated Hermes Inc. Decreases Holdings in Kanzhun Limited (NASDAQ:BZ)

Federated Hermes Inc. decreased its holdings in shares of Kanzhun Limited (NASDAQ:BZ - Free Report) by 57.6% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,129,960 shares of the company's stock after selling 2,891,329 shares during the period. Federated Hermes Inc. owned 0.56% of Kanzhun worth $29,393,000 at the end of the most recent reporting period.

Several other large investors have also added to or reduced their stakes in BZ. Quadrant Capital Group LLC raised its holdings in shares of Kanzhun by 403.1% during the fourth quarter. Quadrant Capital Group LLC now owns 1,781 shares of the company's stock valued at $25,000 after purchasing an additional 1,427 shares during the period. PNC Financial Services Group Inc. increased its position in Kanzhun by 107.5% in the 4th quarter. PNC Financial Services Group Inc. now owns 2,976 shares of the company's stock valued at $41,000 after buying an additional 1,542 shares in the last quarter. China Universal Asset Management Co. Ltd. acquired a new position in Kanzhun during the 4th quarter worth approximately $63,000. Virtu Financial LLC bought a new position in Kanzhun in the fourth quarter worth approximately $162,000. Finally, Premier Fund Managers Ltd grew its stake in Kanzhun by 25.4% in the fourth quarter. Premier Fund Managers Ltd now owns 13,131 shares of the company's stock valued at $180,000 after acquiring an additional 2,661 shares during the period. Institutional investors and hedge funds own 60.67% of the company's stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on BZ. Barclays increased their target price on Kanzhun from $16.00 to $22.00 and gave the stock an "overweight" rating in a report on Thursday, March 13th. Sanford C. Bernstein reaffirmed a "market perform" rating and issued a $18.00 price objective on shares of Kanzhun in a research note on Wednesday, March 12th. Four research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat, Kanzhun presently has an average rating of "Moderate Buy" and an average target price of $21.71.

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Kanzhun Stock Performance

BZ traded up $0.92 during mid-day trading on Monday, reaching $15.45. 966,053 shares of the stock were exchanged, compared to its average volume of 4,656,295. The company has a 50 day moving average price of $17.09 and a two-hundred day moving average price of $15.47. The stock has a market capitalization of $5.95 billion, a PE ratio of 34.33 and a beta of 0.32. Kanzhun Limited has a 1 year low of $10.57 and a 1 year high of $22.74.

Kanzhun 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.