The Manufacturers Life Insurance Company Has $40.63 Million Stake in Kanzhun Limited (NASDAQ:BZ)

The Manufacturers Life Insurance Company trimmed its stake in shares of Kanzhun Limited (NASDAQ:BZ) by 9.3% during the third quarter, HoldingsChannel reports. The fund owned 2,340,207 shares of the company’s stock after selling 239,220 shares during the period. The Manufacturers Life Insurance Company’s holdings in Kanzhun were worth $40,626,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Atlas Capital Advisors LLC acquired a new stake in shares of Kanzhun during the second quarter worth $25,000. Summit Securities Group LLC acquired a new stake in Kanzhun in the 2nd quarter valued at $44,000. UMB Bank n.a. acquired a new stake in Kanzhun in the 3rd quarter valued at $42,000. Van ECK Associates Corp acquired a new stake in Kanzhun in the 3rd quarter valued at $61,000. Finally, Blue Trust Inc. increased its stake in Kanzhun by 21.4% in the 2nd quarter. Blue Trust Inc. now owns 7,638 shares of the company’s stock valued at $134,000 after buying an additional 1,347 shares during the last quarter. 60.67% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on the stock. CLSA assumed coverage on shares of Kanzhun in a research note on Monday, November 18th. They issued an “outperform” rating and a $18.00 price target on the stock. Barclays lowered their price target on shares of Kanzhun from $27.00 to $14.00 and set an “overweight” rating on the stock in a research note on Friday, August 30th. Three analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $22.50.

Kanzhun Price Performance

Kanzhun stock opened at $12.58 on Friday. The firm has a market capitalization of $4.77 billion, a PE ratio of 29.26 and a beta of 0.55. The company’s 50-day moving average is $15.05 and its 200-day moving average is $16.26. Kanzhun Limited has a fifty-two week low of $10.57 and a fifty-two week high of $22.74.

Kanzhun (NASDAQ:BZ) last released its quarterly earnings data on Wednesday, August 28th. The company reported $0.13 earnings per share for the quarter, topping 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%. As a group, analysts expect that Kanzhun Limited will post 0.47 EPS 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.