Nan Fung Trinity HK Ltd. Buys Shares of 1,776,900 Kanzhun Limited (NASDAQ:BZ)

Nan Fung Trinity HK Ltd. purchased a new position in shares of Kanzhun Limited (NASDAQ:BZ) in the fourth quarter, Holdings Channel.com reports. The institutional investor purchased 1,776,900 shares of the company’s stock, valued at approximately $24,521,000. Kanzhun makes up approximately 5.0% of Nan Fung Trinity HK Ltd.’s holdings, making the stock its 6th biggest position.

A number of other hedge funds and other institutional investors have also made changes to their positions in BZ. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in Kanzhun by 812.5% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 7,120,232 shares of the company’s stock valued at $123,607,000 after buying an additional 6,339,911 shares in the last quarter. National Bank of Canada FI bought a new stake in shares of Kanzhun in the 3rd quarter valued at approximately $45,482,000. Nomura Asset Management Co. Ltd. raised its position in shares of Kanzhun by 7,012.9% during the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 2,325,929 shares of the company’s stock valued at $40,378,000 after acquiring an additional 2,293,229 shares in the last quarter. WCM Investment Management LLC lifted its stake in Kanzhun by 109.3% during the third quarter. WCM Investment Management LLC now owns 3,157,794 shares of the company’s stock worth $54,251,000 after purchasing an additional 1,649,411 shares during the last quarter. Finally, Jennison Associates LLC boosted its holdings in Kanzhun by 79.7% in the fourth quarter. Jennison Associates LLC now owns 3,329,853 shares of the company’s stock worth $45,952,000 after purchasing an additional 1,476,693 shares during the period. Institutional investors own 60.67% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on BZ shares. Sanford C. Bernstein cut shares of Kanzhun from an “outperform” rating to a “market perform” rating and dropped their target price for the stock from $19.00 to $15.00 in a report on Monday, December 9th. Citigroup dropped their price objective on shares of Kanzhun from $17.00 to $16.00 and set a “buy” rating on the stock in a research note on Friday, November 29th. Barclays lifted their target price on Kanzhun from $14.00 to $16.00 and gave the company an “overweight” rating in a research note on Monday, December 9th. Finally, CLSA initiated coverage on Kanzhun in a report on Monday, November 18th. They set an “outperform” rating and a $18.00 target price for the company. Four analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $21.00.

Kanzhun Trading Up 2.3 %

Shares of NASDAQ:BZ opened at $16.00 on Friday. The firm’s 50 day moving average is $14.47 and its two-hundred day moving average is $14.34. The firm has a market capitalization of $6.09 billion, a P/E ratio of 35.56 and a beta of 0.49. Kanzhun Limited has a 52 week low of $10.57 and a 52 week high of $22.74.

Kanzhun (NASDAQ:BZ) last posted its earnings results on Wednesday, December 11th. The company reported $0.15 EPS for the quarter, beating the consensus estimate of $0.13 by $0.02. Kanzhun had a return on equity of 10.31% and a net margin of 20.65%. Analysts predict that Kanzhun Limited will post 0.46 EPS for the current year.

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.