Harvest Fund Management Co. Ltd Sells 97,324 Shares of Kanzhun Limited (NASDAQ:BZ)

Harvest Fund Management Co. Ltd reduced its stake in shares of Kanzhun Limited (NASDAQ:BZ) by 28.3% in the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 246,061 shares of the company’s stock after selling 97,324 shares during the quarter. Harvest Fund Management Co. Ltd’s holdings in Kanzhun were worth $4,269,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of the company. Assenagon Asset Management S.A. acquired a new position in Kanzhun in the third quarter valued at about $64,220,000. RWC Asset Advisors US LLC increased its stake in Kanzhun by 79.8% during the 2nd 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. WCM Investment Management LLC raised its holdings in Kanzhun by 109.3% during the 3rd quarter. WCM Investment Management LLC now owns 3,157,794 shares of the company’s stock worth $54,251,000 after buying an additional 1,649,411 shares during the period. Allspring Global Investments Holdings LLC lifted its stake in Kanzhun by 3,918.5% in the third quarter. Allspring Global Investments Holdings LLC now owns 1,648,976 shares of the company’s stock valued at $28,626,000 after buying an additional 1,607,941 shares in the last quarter. Finally, AQR Capital Management LLC acquired a new position in shares of Kanzhun in the second quarter valued at approximately $28,705,000. 60.67% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of brokerages recently commented on BZ. CLSA initiated coverage on shares of Kanzhun in a report on Monday, November 18th. They set an “outperform” rating and a $18.00 price objective on the stock. Barclays dropped their price target on Kanzhun from $27.00 to $14.00 and set an “overweight” rating on the stock in a research note on Friday, August 30th. Three investment analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $22.50.

Kanzhun Price Performance

Shares of NASDAQ BZ opened at $12.76 on Monday. The business has a 50-day moving average of $15.04 and a 200-day moving average of $16.45. The stock has a market capitalization of $4.84 billion, a price-to-earnings ratio of 29.68 and a beta of 0.55. Kanzhun Limited has a fifty-two week low of $10.57 and a fifty-two week high of $22.74.

Kanzhun (NASDAQ:BZ) last posted its quarterly earnings results on Wednesday, August 28th. The company reported $0.13 earnings per share for the quarter, topping the consensus estimate of $0.12 by $0.01. The firm 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%. On average, sell-side analysts expect that Kanzhun Limited will post 0.47 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.