Mackenzie Financial Corp Acquires Shares of 877,737 Kanzhun Limited (NASDAQ:BZ)

Mackenzie Financial Corp bought a new position in shares of Kanzhun Limited (NASDAQ:BZ) in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund bought 877,737 shares of the company’s stock, valued at approximately $14,579,000.

Other institutional investors have also made changes to their positions in the company. Norges Bank bought a new position in Kanzhun in the 4th quarter valued at about $76,089,000. BlackRock Inc. lifted its holdings in Kanzhun by 57.6% during the 3rd quarter. BlackRock Inc. now owns 8,927,652 shares of the company’s stock worth $150,698,000 after purchasing an additional 3,263,310 shares during the last quarter. JPMorgan Chase & Co. lifted its holdings in Kanzhun by 14.9% during the 1st quarter. JPMorgan Chase & Co. now owns 13,097,337 shares of the company’s stock worth $249,242,000 after purchasing an additional 1,702,922 shares during the last quarter. State Street Corp boosted its stake in Kanzhun by 114.8% in the 3rd quarter. State Street Corp now owns 2,930,741 shares of the company’s stock valued at $49,471,000 after purchasing an additional 1,566,551 shares during the period. Finally, Goldman Sachs Group Inc. grew its holdings in Kanzhun by 40.7% in the 2nd quarter. Goldman Sachs Group Inc. now owns 5,144,794 shares of the company’s stock valued at $135,205,000 after buying an additional 1,487,391 shares in the last quarter. 60.67% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research firms have recently weighed in on BZ. Macquarie raised Kanzhun from a “neutral” rating to an “outperform” rating in a report on Tuesday, March 12th. Barclays boosted their price objective on shares of Kanzhun from $22.00 to $27.00 and gave the company an “overweight” rating in a report on Wednesday, March 13th. New Street Research raised shares of Kanzhun from a “neutral” rating to a “buy” rating and raised their target price for the stock from $17.00 to $25.00 in a report on Wednesday, March 13th. Finally, TheStreet raised Kanzhun from a “d+” rating to a “c-” rating in a research report on Wednesday, March 13th. One research analyst has rated the stock with a hold rating and seven have issued a buy rating to the stock. According to MarketBeat.com, Kanzhun currently has an average rating of “Moderate Buy” and a consensus target price of $20.38.

Kanzhun Price Performance

Shares of NASDAQ:BZ opened at $17.84 on Friday. Kanzhun Limited has a 1 year low of $12.57 and a 1 year high of $21.32. The stock has a market capitalization of $6.70 billion, a price-to-earnings ratio of 54.06 and a beta of 0.59. The company’s 50 day simple moving average is $17.31 and its 200 day simple moving average is $16.04.

Kanzhun (NASDAQ:BZ) last issued its quarterly earnings results on Tuesday, March 12th. The company reported $0.10 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.09 by $0.01. Kanzhun had a return on equity of 8.44% and a net margin of 18.28%. The company had revenue of $222.57 million for the quarter, compared to analyst estimates of $215.66 million. As a group, analysts anticipate that Kanzhun Limited will post 0.42 EPS for the current fiscal year.

About Kanzhun

Kanzhun Limited engages in the provision of online recruitment solutions in the People's Republic of China. The company offers its recruitment solutions through a mobile app under the BOSS Zhipin brand name. Its recruitment platform assists the recruitment process between job seekers and employers for enterprises, and corporations.