E Fund Management Hong Kong Co. Ltd. Has $3.38 Million Position in Kanzhun Limited (NASDAQ:BZ)

E Fund Management Hong Kong Co. Ltd. lowered its holdings in shares of Kanzhun Limited (NASDAQ:BZ) by 7.6% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 194,879 shares of the company’s stock after selling 16,119 shares during the quarter. Kanzhun accounts for about 2.0% of E Fund Management Hong Kong Co. Ltd.’s portfolio, making the stock its 11th biggest position. E Fund Management Hong Kong Co. Ltd. owned about 0.05% of Kanzhun worth $3,383,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of BZ. Vanguard Group Inc. raised its position in Kanzhun by 1.6% in the 1st quarter. Vanguard Group Inc. now owns 12,875,675 shares of the company’s stock valued at $225,711,000 after buying an additional 203,594 shares during the last quarter. RWC Asset Advisors US LLC raised its position in Kanzhun by 79.8% in the 2nd quarter. RWC Asset Advisors US LLC now owns 5,700,186 shares of the company’s stock valued at $107,220,000 after buying an additional 2,529,725 shares during the last quarter. Federated Hermes Inc. raised its position in Kanzhun by 10.4% in the 2nd quarter. Federated Hermes Inc. now owns 5,368,870 shares of the company’s stock valued at $100,988,000 after buying an additional 507,337 shares during the last quarter. Assenagon Asset Management S.A. acquired a new stake in Kanzhun in the 3rd quarter valued at approximately $64,220,000. Finally, Canada Pension Plan Investment Board raised its position in Kanzhun by 3.6% in the 2nd quarter. Canada Pension Plan Investment Board now owns 2,896,010 shares of the company’s stock valued at $54,474,000 after buying an additional 100,000 shares during the last quarter. Institutional investors and hedge funds own 60.67% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages recently issued reports on BZ. Daiwa Capital Markets lowered Kanzhun from a “buy” rating to a “neutral” rating in a research report on Thursday, July 25th. Barclays cut their price objective on Kanzhun from $27.00 to $14.00 and set an “overweight” rating for the company in a report on Friday, August 30th. Finally, Daiwa America raised Kanzhun to a “hold” rating in a report on Thursday, July 25th. Three equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $23.40.

Kanzhun Trading Down 2.9 %

BZ opened at $14.95 on Thursday. Kanzhun Limited has a 1-year low of $10.57 and a 1-year high of $22.74. The stock’s fifty day simple moving average is $14.54 and its 200 day simple moving average is $17.06. The stock has a market cap of $5.69 billion, a PE ratio of 34.77 and a beta of 0.52.

Kanzhun (NASDAQ:BZ) last issued its quarterly earnings data on Wednesday, August 28th. The company reported $0.13 earnings per share for the quarter, beating the consensus estimate 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%. Equities analysts forecast that Kanzhun Limited will post 0.47 earnings per share for the current year.

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.