Ground Swell Capital LLC Makes New Investment in Kanzhun Limited (NASDAQ:BZ)

Ground Swell Capital LLC acquired a new stake in Kanzhun Limited (NASDAQ:BZ) during the 3rd quarter, HoldingsChannel.com reports. The institutional investor acquired 14,797 shares of the company’s stock, valued at approximately $257,000.

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

Kanzhun Stock Up 0.8 %

Shares of NASDAQ BZ opened at $14.66 on Monday. Kanzhun Limited has a twelve month low of $10.57 and a twelve month high of $22.74. The company has a market cap of $5.58 billion, a PE ratio of 34.09 and a beta of 0.55. The business’s 50 day moving average price is $14.55 and its two-hundred day moving average price is $17.00.

Kanzhun (NASDAQ:BZ) last announced its earnings results on Wednesday, August 28th. The company reported $0.13 earnings per share for the quarter, topping analysts’ consensus estimates 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 return on equity of 10.19% and a net margin of 20.90%. As a group, research analysts anticipate that Kanzhun Limited will post 0.47 EPS for the current fiscal year.

Analyst Ratings Changes

A number of analysts have commented on the stock. Barclays lowered their target price on shares of Kanzhun from $27.00 to $14.00 and set an “overweight” rating for the company in a report on Friday, August 30th. Daiwa America upgraded shares of Kanzhun to a “hold” rating in a report on Thursday, July 25th. Finally, Daiwa Capital Markets cut Kanzhun from a “buy” rating to a “neutral” rating in a report on Thursday, July 25th. Three research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $23.40.

Kanzhun 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.