Mirae Asset Global Investments Co. Ltd. Lowers Stake in Kanzhun Limited (NASDAQ:BZ)

Mirae Asset Global Investments Co. Ltd. reduced its stake in shares of Kanzhun Limited (NASDAQ:BZ - Free Report) by 36.1% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 94,484 shares of the company's stock after selling 53,345 shares during the quarter. Mirae Asset Global Investments Co. Ltd.'s holdings in Kanzhun were worth $1,638,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently modified their holdings of the company. Sumitomo Mitsui Trust Holdings Inc. boosted its holdings in Kanzhun by 1.9% in the first quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 520,667 shares of the company's stock worth $9,127,000 after acquiring an additional 9,891 shares in the last quarter. Capstone Investment Advisors LLC purchased a new stake in Kanzhun during the 1st quarter valued at $737,000. Jennison Associates LLC increased its position in Kanzhun by 7.5% in the first quarter. Jennison Associates LLC now owns 1,177,628 shares of the company's stock worth $20,644,000 after buying an additional 82,287 shares in the last quarter. GSA Capital Partners LLP bought a new position in Kanzhun during the first quarter valued at approximately $1,409,000. Finally, Quantbot Technologies LP lifted its stake in shares of Kanzhun by 1,114.0% during the 1st quarter. Quantbot Technologies LP now owns 58,867 shares of the company's stock worth $1,032,000 after acquiring an additional 54,018 shares during the last quarter. 60.67% of the stock is owned by institutional investors and hedge funds.

Kanzhun Price Performance

Shares of Kanzhun stock traded up $0.11 during trading on Friday, hitting $14.66. 3,884,533 shares of the company's stock traded hands, compared to its average volume of 4,131,147. Kanzhun Limited has a 1 year low of $10.57 and a 1 year high of $22.74. The stock has a market capitalization of $5.58 billion, a P/E ratio of 33.84 and a beta of 0.52. The business has a 50-day simple moving average of $14.54 and a 200-day simple moving average of $17.04.

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

Analysts Set New Price Targets

BZ has been the subject of a number of analyst reports. Barclays decreased their price objective on shares of Kanzhun from $27.00 to $14.00 and set an "overweight" rating for the company in a research report on Friday, August 30th. Daiwa Capital Markets downgraded Kanzhun from a "buy" rating to a "neutral" rating in a research report on Thursday, July 25th. Finally, Daiwa America raised shares of Kanzhun to a "hold" rating in a research report on Thursday, July 25th. Three equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company's stock. According to data from MarketBeat.com, Kanzhun has an average rating of "Moderate Buy" and an average target price of $23.40.

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.