WCM Investment Management LLC Has $32.11 Million Stock Position in Kanzhun Limited (NASDAQ:BZ)

WCM Investment Management LLC trimmed its stake in Kanzhun Limited (NASDAQ:BZ) by 25.8% during the fourth quarter, Holdings Channel reports. The fund owned 2,343,630 shares of the company’s stock after selling 814,164 shares during the quarter. WCM Investment Management LLC’s holdings in Kanzhun were worth $32,108,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also modified their holdings of BZ. 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 shares of Kanzhun in the 3rd quarter valued at $61,000. China Universal Asset Management Co. Ltd. bought a new position in Kanzhun in the fourth quarter valued at about $63,000. Premier Fund Managers Ltd lifted its position in Kanzhun by 38.0% during the 3rd quarter. Premier Fund Managers Ltd now owns 10,470 shares of the company’s stock valued at $180,000 after purchasing an additional 2,884 shares during the period. Finally, DRW Securities LLC acquired a new stake in shares of Kanzhun during the 3rd quarter worth approximately $203,000. 60.67% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities analysts have issued reports on BZ shares. Barclays raised their price objective on shares of Kanzhun from $14.00 to $16.00 and gave the company an “overweight” rating in a research note on Monday, December 9th. Citigroup decreased their target price on Kanzhun from $17.00 to $16.00 and set a “buy” rating for the company in a research report on Friday, November 29th. Sanford C. Bernstein downgraded shares of Kanzhun from an “outperform” rating to a “market perform” rating and cut their price target for the company from $19.00 to $15.00 in a research report on Monday, December 9th. Finally, CLSA initiated coverage on shares of Kanzhun in a research note on Monday, November 18th. They issued 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 an average rating of “Moderate Buy” and an average price target of $21.00.

Kanzhun Trading Up 4.4 %

Kanzhun stock opened at $15.41 on Friday. The company has a fifty day simple moving average of $14.16 and a 200 day simple moving average of $14.20. Kanzhun Limited has a 1-year low of $10.57 and a 1-year high of $22.74. The company has a market cap of $5.87 billion, a P/E ratio of 34.25 and a beta of 0.49.

Kanzhun (NASDAQ:BZ) last posted its quarterly earnings results on Wednesday, December 11th. The company reported $0.15 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.13 by $0.02. Kanzhun had a net margin of 20.65% and a return on equity of 10.31%. On average, equities research analysts forecast that Kanzhun Limited will post 0.46 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.