Matthews International Capital Management LLC Acquires 388,080 Shares of Kanzhun Limited (NASDAQ:BZ)

Matthews International Capital Management LLC grew its position in Kanzhun Limited (NASDAQ:BZ - Free Report) by 84.3% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 848,290 shares of the company's stock after purchasing an additional 388,080 shares during the quarter. Kanzhun makes up approximately 2.4% of Matthews International Capital Management LLC's portfolio, making the stock its 13th largest holding. Matthews International Capital Management LLC owned 0.22% of Kanzhun worth $11,706,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently modified their holdings of BZ. Nomura Asset Management Co. Ltd. increased its position in Kanzhun by 7,012.9% during the third quarter. Nomura Asset Management Co. Ltd. now owns 2,325,929 shares of the company's stock worth $40,378,000 after acquiring an additional 2,293,229 shares during the period. Barclays PLC boosted its stake in Kanzhun by 58.7% during the third quarter. Barclays PLC now owns 450,663 shares of the company's stock worth $7,824,000 after buying an additional 166,683 shares in the last quarter. Monolith Management Ltd acquired a new stake in Kanzhun during the third quarter worth $4,340,000. WCM Investment Management LLC boosted its stake in Kanzhun by 109.3% during the third quarter. WCM Investment Management LLC now owns 3,157,794 shares of the company's stock worth $54,251,000 after buying an additional 1,649,411 shares in the last quarter. Finally, Union Bancaire Privee UBP SA acquired a new stake in Kanzhun during the fourth quarter worth $333,000. Institutional investors own 60.67% of the company's stock.

Kanzhun Stock Performance

NASDAQ:BZ traded down $0.96 on Friday, hitting $14.41. 1,914,062 shares of the stock were exchanged, compared to its average volume of 2,881,625. The stock has a market capitalization of $5.49 billion, a price-to-earnings ratio of 32.02 and a beta of 0.49. Kanzhun Limited has a 52 week low of $10.57 and a 52 week high of $22.74. The company's 50-day moving average price is $13.85 and its 200 day moving average price is $14.27.

Kanzhun (NASDAQ:BZ - Get Free Report) last announced its quarterly earnings results on Wednesday, December 11th. The company reported $0.15 EPS for the quarter, beating 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%. As a group, equities research analysts predict that Kanzhun Limited will post 0.46 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on BZ. Sanford C. Bernstein downgraded shares of Kanzhun from an "outperform" rating to a "market perform" rating and decreased their price target for the stock from $19.00 to $15.00 in a research note on Monday, December 9th. Barclays lifted their price target 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 reduced their target price 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, CLSA began coverage on shares of Kanzhun in a research note on Monday, November 18th. They issued an "outperform" rating and a $18.00 target price on the stock. Four investment 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 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.