E Fund Management Hong Kong Co. Ltd. Decreases Stock Holdings in Kanzhun Limited (NASDAQ:BZ)

E Fund Management Hong Kong Co. Ltd. cut its stake in Kanzhun Limited (NASDAQ:BZ) by 20.4% in the fourth quarter, Holdings Channel.com reports. The firm owned 155,112 shares of the company’s stock after selling 39,767 shares during the quarter. Kanzhun makes up approximately 1.7% of E Fund Management Hong Kong Co. Ltd.’s investment portfolio, making the stock its 12th biggest position. E Fund Management Hong Kong Co. Ltd.’s holdings in Kanzhun were worth $2,141,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently made changes to their positions in BZ. UMB Bank n.a. acquired a new position in Kanzhun in the 3rd quarter valued at about $42,000. Van ECK Associates Corp purchased a new stake in shares of Kanzhun during the 3rd quarter valued at approximately $61,000. Premier Fund Managers Ltd lifted its holdings in Kanzhun by 38.0% in the third quarter. Premier Fund Managers Ltd now owns 10,470 shares of the company’s stock valued at $180,000 after acquiring an additional 2,884 shares during the last quarter. DRW Securities LLC purchased a new position in Kanzhun in the third quarter worth approximately $203,000. Finally, Hancock Whitney Corp acquired a new stake in Kanzhun during the third quarter worth $228,000. Institutional investors and hedge funds own 60.67% of the company’s stock.

Kanzhun Stock Performance

Shares of BZ stock opened at $14.84 on Monday. Kanzhun Limited has a fifty-two week low of $10.57 and a fifty-two week high of $22.74. The company has a 50 day moving average price of $13.77 and a 200 day moving average price of $14.32. The stock has a market capitalization of $5.65 billion, a P/E ratio of 32.98 and a beta of 0.49.

Kanzhun (NASDAQ:BZ) last posted its quarterly earnings results on Wednesday, December 11th. The company reported $0.15 EPS for the quarter, topping the consensus estimate of $0.13 by $0.02. Kanzhun had a net margin of 20.65% and a return on equity of 10.31%. On average, research analysts forecast that Kanzhun Limited will post 0.46 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on BZ shares. CLSA initiated coverage on Kanzhun in a report on Monday, November 18th. They set an “outperform” rating and a $18.00 price target for the company. Citigroup lowered their target price on shares of Kanzhun from $17.00 to $16.00 and set a “buy” rating for the company in a research note on Friday, November 29th. Barclays boosted their price target on shares of Kanzhun from $14.00 to $16.00 and gave the company an “overweight” rating in a research note on Monday, December 9th. Finally, Sanford C. Bernstein cut shares of Kanzhun from an “outperform” rating to a “market perform” rating and lowered their price objective for the stock from $19.00 to $15.00 in a research report on Monday, December 9th. Four equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $21.00.

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.