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

The Manufacturers Life Insurance Company decreased its position in shares of Kanzhun Limited (NASDAQ:BZ) by 9.3% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 2,340,207 shares of the company’s stock after selling 239,220 shares during the period. The Manufacturers Life Insurance Company owned about 0.61% of Kanzhun worth $40,626,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently modified their holdings of the company. Crossmark Global Holdings Inc. increased its holdings in shares of Kanzhun by 5.8% during the third quarter. Crossmark Global Holdings Inc. now owns 13,911 shares of the company’s stock worth $241,000 after buying an additional 759 shares in the last quarter. Atlas Capital Advisors LLC bought a new stake in shares of Kanzhun during the second quarter valued at approximately $25,000. Blue Trust Inc. grew its stake in shares of Kanzhun by 21.4% during the second quarter. Blue Trust Inc. now owns 7,638 shares of the company’s stock valued at $134,000 after purchasing an additional 1,347 shares during the last quarter. DekaBank Deutsche Girozentrale grew its stake in shares of Kanzhun by 6.6% during the first quarter. DekaBank Deutsche Girozentrale now owns 32,066 shares of the company’s stock valued at $565,000 after purchasing an additional 1,977 shares during the last quarter. Finally, Summit Securities Group LLC bought a new stake in shares of Kanzhun during the second quarter valued at approximately $44,000. Institutional investors and hedge funds own 60.67% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on BZ. Barclays decreased 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. CLSA began coverage on shares of Kanzhun in a research note on Monday, November 18th. They set an “outperform” rating and a $18.00 price target on the stock. Three research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $22.50.

Kanzhun Stock Performance

Shares of BZ stock opened at $12.58 on Friday. Kanzhun Limited has a 52-week low of $10.57 and a 52-week high of $22.74. The stock has a market cap of $4.77 billion, a PE ratio of 29.26 and a beta of 0.55. The firm’s 50 day moving average price is $15.05 and its two-hundred day moving average price is $16.26.

Kanzhun (NASDAQ:BZ) last announced its quarterly 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 analysts’ expectations of $264.38 million. Kanzhun had a net margin of 20.90% and a return on equity of 10.19%. As a group, sell-side analysts predict that Kanzhun Limited will post 0.47 earnings per share for the current fiscal 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.