The Manufacturers Life Insurance Company Sells 239,220 Shares of Kanzhun Limited (NASDAQ:BZ)

The Manufacturers Life Insurance Company lessened its position in shares of Kanzhun Limited (NASDAQ:BZ - Free Report) by 9.3% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 2,340,207 shares of the company's stock after selling 239,220 shares during the period. The Manufacturers Life Insurance Company owned approximately 0.61% of Kanzhun worth $40,626,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also added to or reduced their stakes in the company. Vanguard Group Inc. grew its position in Kanzhun by 1.6% in the first quarter. Vanguard Group Inc. now owns 12,875,675 shares of the company's stock valued at $225,711,000 after acquiring an additional 203,594 shares during the last quarter. California State Teachers Retirement System lifted its stake in Kanzhun by 80.5% in the 1st quarter. California State Teachers Retirement System now owns 62,681 shares of the company's stock valued at $1,099,000 after purchasing an additional 27,954 shares during the last quarter. Swedbank AB acquired a new stake in Kanzhun in the first quarter valued at approximately $861,000. DekaBank Deutsche Girozentrale boosted its position in Kanzhun by 6.6% in the first quarter. DekaBank Deutsche Girozentrale now owns 32,066 shares of the company's stock valued at $565,000 after buying an additional 1,977 shares in the last quarter. Finally, DNB Asset Management AS grew its stake in shares of Kanzhun by 21.7% during the second quarter. DNB Asset Management AS now owns 17,544 shares of the company's stock worth $330,000 after buying an additional 3,123 shares during the last quarter. 60.67% of the stock is owned by institutional investors.

Kanzhun Trading Up 7.3 %

BZ stock traded up $0.92 during trading on Friday, hitting $13.50. The company had a trading volume of 3,875,751 shares, compared to its average volume of 4,135,043. The stock has a market cap of $5.12 billion, a PE ratio of 31.35 and a beta of 0.55. The business has a 50-day moving average of $15.05 and a 200-day moving average of $16.26. Kanzhun Limited has a one year low of $10.57 and a one year high of $22.74.

Kanzhun (NASDAQ:BZ - Get Free Report) last posted its quarterly earnings data 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 net margin of 20.90% and a return on equity of 10.19%. Research analysts forecast that Kanzhun Limited will post 0.47 EPS for the current year.

Analysts Set New Price Targets

A number of brokerages have recently commented on BZ. Barclays dropped their price target on Kanzhun from $27.00 to $14.00 and set an "overweight" rating for the company in a research note on Friday, August 30th. CLSA assumed coverage on Kanzhun in a research note on Monday, November 18th. They set an "outperform" rating and a $18.00 price target on the stock. Finally, Citigroup reduced their price target on Kanzhun from $17.00 to $16.00 and set a "buy" rating on the stock in a report on Friday. Three research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company's stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $21.57.

About Kanzhun

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.