Oaktree Fund Advisors LLC Reduces Stock Position in Kanzhun Limited (NASDAQ:BZ)

Oaktree Fund Advisors LLC trimmed its holdings in shares of Kanzhun Limited (NASDAQ:BZ - Free Report) by 21.1% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 117,994 shares of the company's stock after selling 31,516 shares during the quarter. Kanzhun accounts for approximately 2.7% of Oaktree Fund Advisors LLC's investment portfolio, making the stock its 14th largest holding. Oaktree Fund Advisors LLC's holdings in Kanzhun were worth $1,628,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in BZ. Schroder Investment Management Group grew its stake in Kanzhun by 7.1% in the fourth quarter. Schroder Investment Management Group now owns 14,838,725 shares of the company's stock worth $204,774,000 after purchasing an additional 986,213 shares in the last quarter. Premier Fund Managers Ltd grew its position in shares of Kanzhun by 25.4% during the 4th quarter. Premier Fund Managers Ltd now owns 13,131 shares of the company's stock worth $180,000 after buying an additional 2,661 shares in the last quarter. Pictet Asset Management Holding SA grew its position in shares of Kanzhun by 7.4% during the 4th quarter. Pictet Asset Management Holding SA now owns 444,752 shares of the company's stock worth $6,138,000 after buying an additional 30,568 shares in the last quarter. Norges Bank purchased a new position in shares of Kanzhun during the fourth quarter valued at $64,060,000. Finally, Brilliance Asset Management Ltd. lifted its stake in Kanzhun by 7.5% in the fourth quarter. Brilliance Asset Management Ltd. now owns 7,300,256 shares of the company's stock worth $100,744,000 after acquiring an additional 510,745 shares during the period. 60.67% of the stock is currently owned by institutional investors.

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Analyst Ratings Changes

Several equities research analysts have recently commented on the stock. Sanford C. Bernstein restated a "market perform" rating and issued a $18.00 price target on shares of Kanzhun in a report on Wednesday, March 12th. Barclays upped 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. Four analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $21.71.

Kanzhun Stock Performance

BZ stock traded down $0.16 on Thursday, hitting $18.84. 1,509,711 shares of the company's stock were exchanged, compared to its average volume of 4,545,474. The firm has a 50 day moving average price of $17.02 and a two-hundred day moving average price of $15.36. Kanzhun Limited has a 12-month low of $10.57 and a 12-month high of $22.74. The stock has a market cap of $7.18 billion, a P/E ratio of 41.87 and a beta of 0.46.

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.