abrdn plc Acquires 9,520 Shares of Kanzhun Limited (NASDAQ:BZ)

abrdn plc boosted its stake in shares of Kanzhun Limited (NASDAQ:BZ) by 19.6% in the fourth quarter, Holdings Channel reports. The institutional investor owned 58,056 shares of the company’s stock after acquiring an additional 9,520 shares during the period. abrdn plc’s holdings in Kanzhun were worth $964,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. Vanguard Group Inc. increased its holdings in Kanzhun by 1.7% in the third quarter. Vanguard Group Inc. now owns 12,615,432 shares of the company’s stock valued at $191,376,000 after buying an additional 216,558 shares in the last quarter. Wellington Management Group LLP boosted its stake in shares of Kanzhun by 7.9% in the 3rd quarter. Wellington Management Group LLP now owns 5,728,132 shares of the company’s stock valued at $86,896,000 after buying an additional 421,441 shares during the period. Bamco Inc. NY increased its position in shares of Kanzhun by 23.5% in the 3rd quarter. Bamco Inc. NY now owns 3,050,770 shares of the company’s stock valued at $46,280,000 after purchasing an additional 581,094 shares during the last quarter. Canada Pension Plan Investment Board raised its stake in Kanzhun by 7.9% in the third quarter. Canada Pension Plan Investment Board now owns 3,047,912 shares of the company’s stock valued at $46,237,000 after buying an additional 222,649 shares in the last quarter. Finally, E Fund Management Co. Ltd. raised its position in shares of Kanzhun by 1.3% during the 3rd quarter. E Fund Management Co. Ltd. now owns 2,367,641 shares of the company’s stock worth $35,917,000 after acquiring an additional 30,771 shares in the last quarter. 60.67% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

BZ has been the subject of several research analyst reports. Barclays upped their target price on shares of Kanzhun from $22.00 to $27.00 and gave the company an “overweight” rating in a report on Wednesday, March 13th. TheStreet upgraded Kanzhun from a “d+” rating to a “c-” rating in a research report on Wednesday, March 13th. Macquarie raised Kanzhun from a “neutral” rating to an “outperform” rating in a research report on Tuesday, March 12th. Finally, New Street Research raised Kanzhun from a “neutral” rating to a “buy” rating and increased their price objective for the company from $17.00 to $25.00 in a report on Wednesday, March 13th. One analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $20.38.

Kanzhun Stock Up 0.5 %

Kanzhun stock opened at $20.20 on Tuesday. The firm has a market capitalization of $7.58 billion, a P/E ratio of 61.21 and a beta of 0.59. The firm has a fifty day moving average of $18.00 and a 200-day moving average of $16.22. Kanzhun Limited has a 52-week low of $12.57 and a 52-week high of $21.32.

Kanzhun (NASDAQ:BZ) last released its quarterly earnings data on Tuesday, March 12th. The company reported $0.10 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. On average, research analysts expect 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.