Seven Eight Capital LP Takes Position in Kanzhun Limited (NASDAQ:BZ)

Seven Eight Capital LP acquired a new position in Kanzhun Limited (NASDAQ:BZ) in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 151,027 shares of the company’s stock, valued at approximately $2,841,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in BZ. Atlas Capital Advisors LLC bought a new stake in Kanzhun during the second quarter valued at about $25,000. Summit Securities Group LLC bought a new stake in shares of Kanzhun in the 2nd quarter valued at about $44,000. Blue Trust Inc. grew its position in shares of Kanzhun by 21.4% in the 2nd quarter. Blue Trust Inc. now owns 7,638 shares of the company’s stock worth $134,000 after buying an additional 1,347 shares during the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd bought a new position in shares of Kanzhun during the 2nd quarter worth approximately $204,000. Finally, DNB Asset Management AS lifted its position in Kanzhun by 21.7% during the second quarter. DNB Asset Management AS now owns 17,544 shares of the company’s stock valued at $330,000 after acquiring an additional 3,123 shares during the last quarter. 60.67% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

BZ has been the topic of a number of recent analyst reports. Daiwa Capital Markets downgraded Kanzhun from a “buy” rating to a “neutral” rating in a research report on Thursday, July 25th. Barclays lowered their price target on Kanzhun from $27.00 to $14.00 and set an “overweight” rating for the company in a report on Friday, August 30th. UBS Group upped their price objective on shares of Kanzhun from $22.00 to $23.50 and gave the company a “neutral” rating in a report on Wednesday, May 22nd. HSBC assumed coverage on shares of Kanzhun in a research report on Friday, May 24th. They set a “buy” rating and a $30.00 target price on the stock. Finally, JPMorgan Chase & Co. raised their price target on shares of Kanzhun from $23.00 to $24.50 and gave the stock an “overweight” rating in a report on Wednesday, May 22nd. Three 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 presently has a consensus rating of “Moderate Buy” and an average price target of $23.40.

Kanzhun Stock Up 1.6 %

Kanzhun stock opened at $12.44 on Wednesday. Kanzhun Limited has a 52 week low of $10.57 and a 52 week high of $22.74. The firm has a market cap of $4.73 billion, a price-to-earnings ratio of 31.90 and a beta of 0.47. The business’s 50-day moving average price is $14.06 and its 200 day moving average price is $17.66.

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.