Monolith Management Ltd Takes Position in Kanzhun Limited (NASDAQ:BZ)

Monolith Management Ltd acquired a new position in shares of Kanzhun Limited (NASDAQ:BZ - Free Report) in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund acquired 250,000 shares of the company's stock, valued at approximately $4,340,000. Kanzhun accounts for about 2.5% of Monolith Management Ltd's holdings, making the stock its 12th largest position. Monolith Management Ltd owned approximately 0.07% of Kanzhun at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in BZ. Swedbank AB bought a new position in shares of Kanzhun in the first quarter valued at approximately $861,000. WCM Investment Management LLC boosted its position in shares of Kanzhun by 109.3% in the 3rd quarter. WCM Investment Management LLC now owns 3,157,794 shares of the company's stock worth $54,251,000 after purchasing an additional 1,649,411 shares during the last quarter. Deltec Asset Management LLC bought a new position in Kanzhun in the second quarter valued at approximately $934,000. DekaBank Deutsche Girozentrale boosted its position in shares of Kanzhun by 128.9% during the second quarter. DekaBank Deutsche Girozentrale now owns 73,408 shares of the company's stock worth $1,377,000 after buying an additional 41,342 shares during the period. Finally, Allspring Global Investments Holdings LLC bought a new position in shares of Kanzhun during the 2nd quarter worth approximately $772,000. 60.67% of the stock is currently owned by institutional investors and hedge funds.

Kanzhun Trading Down 0.9 %

BZ traded down $0.11 during trading on Monday, hitting $12.65. 2,583,940 shares of the company's stock traded hands, compared to its average volume of 4,088,337. The company's 50 day simple moving average is $15.04 and its two-hundred day simple moving average is $16.42. The stock has a market capitalization of $4.80 billion, a price-to-earnings ratio of 29.68 and a beta of 0.55. Kanzhun Limited has a 12-month low of $10.57 and a 12-month high of $22.74.

Kanzhun (NASDAQ:BZ - Get Free Report) last issued its earnings results on Wednesday, August 28th. The company reported $0.13 earnings per share for the quarter, topping analysts' consensus estimates of $0.12 by $0.01. Kanzhun had a net margin of 20.90% and a return on equity of 10.19%. The firm had revenue of $263.75 million during the quarter, compared to analyst estimates of $264.38 million. On average, equities analysts expect that Kanzhun Limited will post 0.47 EPS for the current year.

Wall Street Analyst Weigh In

Several research firms have recently commented on BZ. Barclays cut their price objective on Kanzhun from $27.00 to $14.00 and set an "overweight" rating for the company in a report on Friday, August 30th. CLSA assumed coverage on Kanzhun in a report on Monday, November 18th. They issued an "outperform" rating and a $18.00 price objective for the company. Three research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $22.50.

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.