abrdn plc Has $3.34 Million Stake in Kanzhun Limited (NASDAQ:BZ)

abrdn plc grew its stake in shares of Kanzhun Limited (NASDAQ:BZ - Free Report) by 36.0% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 191,068 shares of the company's stock after buying an additional 50,598 shares during the period. abrdn plc owned 0.05% of Kanzhun worth $3,344,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in BZ. Assenagon Asset Management S.A. purchased a new position in Kanzhun in the third quarter valued at approximately $64,220,000. Allspring Global Investments Holdings LLC raised its position in Kanzhun by 3,918.5% in the third quarter. Allspring Global Investments Holdings LLC now owns 1,648,976 shares of the company's stock valued at $28,626,000 after purchasing an additional 1,607,941 shares during the period. UMB Bank n.a. purchased a new stake in shares of Kanzhun in the third quarter worth about $42,000. SIH Partners LLLP purchased a new stake in shares of Kanzhun during the 2nd quarter valued at about $282,000. Finally, The Manufacturers Life Insurance Company lifted its position in Kanzhun by 127.6% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 2,579,427 shares of the company's stock worth $48,519,000 after acquiring an additional 1,446,033 shares in the last quarter. 60.67% of the stock is currently owned by institutional investors and hedge funds.

Kanzhun Trading Up 0.7 %

NASDAQ:BZ traded up $0.10 during mid-day trading on Monday, hitting $14.76. The stock had a trading volume of 2,671,074 shares, compared to its average volume of 4,126,666. The company has a 50 day simple moving average of $14.55 and a 200-day simple moving average of $17.00. The stock has a market capitalization of $5.62 billion, a price-to-earnings ratio of 34.09 and a beta of 0.55. Kanzhun Limited has a 52 week low of $10.57 and a 52 week high of $22.74.

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

Analyst Upgrades and Downgrades

A number of research firms have weighed in on BZ. Daiwa Capital Markets cut shares of Kanzhun from a "buy" rating to a "neutral" rating in a research report on Thursday, July 25th. Daiwa America raised Kanzhun to a "hold" rating in a report on Thursday, July 25th. Finally, Barclays dropped their price objective on Kanzhun from $27.00 to $14.00 and set an "overweight" rating on the stock in a report on Friday, August 30th. Three analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target 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.