Connor Clark & Lunn Investment Management Ltd. Trims Holdings in Kanzhun Limited (NASDAQ:BZ)

Connor Clark & Lunn Investment Management Ltd. cut its stake in Kanzhun Limited (NASDAQ:BZ) by 53.5% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 173,977 shares of the company’s stock after selling 199,772 shares during the quarter. Connor Clark & Lunn Investment Management Ltd.’s holdings in Kanzhun were worth $2,401,000 at the end of the most recent quarter.

Several other hedge funds also recently made changes to their positions in BZ. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted 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 during the period. National Bank of Canada FI bought a new stake in Kanzhun during the third quarter valued at $45,482,000. Nomura Asset Management Co. Ltd. boosted its stake in Kanzhun by 7,012.9% during the third quarter. Nomura Asset Management Co. Ltd. now owns 2,325,929 shares of the company’s stock valued at $40,378,000 after buying an additional 2,293,229 shares during the period. Nan Fung Trinity HK Ltd. bought a new stake in Kanzhun during the fourth quarter valued at $24,521,000. Finally, Jennison Associates LLC boosted its stake in Kanzhun by 79.7% during the fourth quarter. Jennison Associates LLC now owns 3,329,853 shares of the company’s stock valued at $45,952,000 after buying an additional 1,476,693 shares during the period. 60.67% of the stock is currently owned by hedge funds and other institutional investors.

Kanzhun Trading Up 0.4 %

NASDAQ BZ opened at $20.56 on Wednesday. Kanzhun Limited has a 1-year low of $10.57 and a 1-year high of $22.74. The stock has a 50-day moving average of $15.74 and a 200-day moving average of $14.80. The firm has a market cap of $7.83 billion, a PE ratio of 45.69 and a beta of 0.46.

Wall Street Analysts Forecast Growth

BZ has been the subject of several research analyst reports. Sanford C. Bernstein reissued a “market perform” rating and set a $18.00 price objective on shares of Kanzhun in a research note on Wednesday, March 12th. Barclays lifted their price target on Kanzhun from $16.00 to $22.00 and gave the stock an “overweight” rating in a research note on Thursday, March 13th. Finally, Citigroup dropped their price target on Kanzhun from $17.00 to $16.00 and set a “buy” rating for the company in a research note on Friday, November 29th. Four equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $21.71.

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.