OVERSEA CHINESE BANKING Corp Ltd Cuts Stake in Kanzhun Limited (NASDAQ:BZ)

OVERSEA CHINESE BANKING Corp Ltd reduced its stake in Kanzhun Limited (NASDAQ:BZ) by 23.8% during the fourth quarter, HoldingsChannel reports. The fund owned 26,165 shares of the company’s stock after selling 8,174 shares during the period. OVERSEA CHINESE BANKING Corp Ltd’s holdings in Kanzhun were worth $361,000 as of its most recent SEC filing.

Other institutional investors have also recently modified their holdings of the company. PNC Financial Services Group Inc. grew its stake in shares of Kanzhun by 107.5% in the fourth quarter. PNC Financial Services Group Inc. now owns 2,976 shares of the company’s stock worth $41,000 after acquiring an additional 1,542 shares during the last quarter. China Universal Asset Management Co. Ltd. purchased a new stake in shares of Kanzhun during the fourth quarter valued at $63,000. Premier Fund Managers Ltd boosted its position in shares of Kanzhun by 38.0% during the third quarter. Premier Fund Managers Ltd now owns 10,470 shares of the company’s stock valued at $180,000 after buying an additional 2,884 shares during the last quarter. DRW Securities LLC purchased a new stake in shares of Kanzhun during the third quarter valued at $203,000. Finally, Hancock Whitney Corp purchased a new stake in shares of Kanzhun during the third quarter valued at $228,000. 60.67% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research firms recently commented on BZ. Sanford C. Bernstein reaffirmed a “market perform” rating and set a $18.00 price objective on shares of Kanzhun in a research report on Wednesday, March 12th. Citigroup dropped their price objective on Kanzhun from $17.00 to $16.00 and set a “buy” rating on the stock in a research report on Friday, November 29th. Finally, Barclays increased their price objective on Kanzhun from $16.00 to $22.00 and gave the company an “overweight” rating in a research report on Thursday, March 13th. Four equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $21.71.

Kanzhun Stock Performance

Shares of NASDAQ:BZ opened at $20.29 on Friday. The stock has a market capitalization of $7.73 billion, a price-to-earnings ratio of 45.09 and a beta of 0.46. The stock’s 50-day simple moving average is $16.03 and its two-hundred day simple moving average is $14.88. Kanzhun Limited has a 52-week low of $10.57 and a 52-week high of $22.74.

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.